To kick off Season 8, host Dorothy Cociu welcomes Marilyn Monahan of Monahan Law Office, to discuss ERISA Fiduciary Responsibilities and Liabilities. In this week’s podcast, we discuss what it means to be a Plan Fiduciary, how Fiduciaries can delegate certain functions to a Service Provider, but still remain responsible because they hired that service provider. We also discuss how a defined process is required by fiduciaries for service provider selection and monitoring, ERISA prohibited transactions, DOL/EBSA auditing of health plans, and CAA 2021 and 2026 requirements. Lastly, we discuss the DOL Cybersecurity requirements for Plan Fiduciaries, and how Fiduciaries are required to confirm that their service providers/vendors have solid cybersecurity practices, which again, requires a defined process. Join us for this informative podcast, and stay tuned for Part 2 of this series on fiduciary responsibilities and liability next week in Episode 2!