Strengthen Fiduciary Governance and Avoid Costly Mistakes

April 14, 2026

With ERISA litigation escalating and new regulatory requirements, including SECURE 2.0, many employers are struggling to keep pace with what’s expected of plan fiduciaries. The stakes are high: failure to meet fiduciary obligations can expose organizations to costly litigation and may result in personal liability for those who oversee retirement plans.

Fiduciary training equips employers and retirement plan committees with the knowledge and processes needed to understand their responsibilities, make prudent decisions and protect plan participants — which ultimately helps mitigate risk for both the organization and individual fiduciaries.

Case Study: Training solutions save time and money

Fiduciary training proved advantageous for a USI client that had appointed a new investment committee to oversee its 403(b) plan. With limited experience in retirement plan governance — and an audit underway — the committee needed immediate support.

USI delivered targeted fiduciary training, covering essentials such as:

	Duty of loyalty — acting solely in participants’ best interests
	Duty of prudence — making well-informed, careful decisions
	Duty to follow plan documents — operating in accordance with plan rules
	Duty to diversify plan investments — reducing unnecessary risk through appropriate diversification1
Our fiduciary experts helped the client avoid significant fines tied to governance deficiencies identified during the DOL review. The training also saved the organization money and HR staff time by guiding the creation of key governance documents, including an investment policy statement.1

Expanded Support to Strengthen Your Fiduciary Governance

Beyond fiduciary training, USI provides a range of services designed to help employers reduce fiduciary risk, improve plan performance and support long‑term governance best practices.

Our additional support includes:

• Ongoing investment due diligence oversight — Regular monitoring of investment options, fees and performance to help ensure prudent decision‑making and alignment with your plan’s investment policy.
• Plan operations and management — Day‑to‑day administrative support to help streamline operations, maintain documentation and reduce the burden on internal HR teams.
• Plan design consulting and benchmarking — Data‑driven plan reviews to evaluate competitiveness, optimize outcomes for participants and ensure your plan aligns with industry norms.
• Regulatory and plan compliance support — Expert guidance on new developments and ongoing requirements of retirement plans from our compliance team, including in-house ERISA attorneys.
• Periodic service provider searches — Objective evaluations of recordkeepers, custodians and advisors to help employers secure the best combination of services, fees and capabilities.

Together, these services equip employers with the structure, oversight and insights necessary to maintain a well‑managed, compliant and participant‑focused retirement program.

It’s Time to Consider Fiduciary Liability Insurance

Fiduciary errors — such as imprudent investment decisions or insufficient oversight — can expose retirement plans to significant financial loss. Litigation continues to rise, with near-record-high number of ERISA fiduciary class‑action lawsuits filed in 2025, making fiduciary risk a growing concern for employers.

While excessive‑fee lawsuits still represent a large share of ERISA filings, the nature of these claims is evolving. Notably, 2025 saw heightened scrutiny of stable value funds, which historically has received far less attention than target date funds.²

In addition to following a prudent governance process, organizations can strengthen their protection by purchasing fiduciary liability insurance. This coverage protects both the organization and individual fiduciaries (including directors, officers, employees and plan administrators) if they are sued for alleged failures in managing employee benefit plans.

USI has a dedicated team of fiduciary liability insurance specialists who can help employers secure appropriate coverage levels and provide additional support, including:

• Preparing clients for underwriting questions
• Identifying emerging risk areas
• Benchmarking liability limits, retention (deductible) levels and premiums against peer organizations