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Being a retirement plan fiduciary is an honorable undertaking. Just thinking about the fact that others have put their trust in you to shepherd their hard-won savings into investments likely inspires many sponsors and advisors to high levels of mindful care and conscientious decisionmaking. On the flip side, of course, the increasing frequency of 401(k) and 403(b) litigation might also inspire some sleepless nights. Maybe many.

We’ve written about best practices and how to be aware of certain rules and regulations — preventive measures, so to speak. But only recently have we begun hearing about fiduciary insurance as an added measure. Curious to know more, we asked Wendy Von Wald, fiduciary product manager at Travelers for her perspective on this type of insurance.

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C.J. Marwitz

C.J. Marwitz is the editor for the retirement industry audience and a digital managing editor at BenefitsPRO. She is currently considering pitches for unpublished contributed content related to the employer-sponsored retirement plan arena. A former technology editor, advertising copywriter, and academic advisor, Marwitz is the mother of three and walker/stick-thrower/treat-giver to an orange-and-white Welsh Corgi named Leeloo Dallas Multipass.

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