Be More Than A Fiduciary

In this episode, Eric discusses:Reinforcing process over predictionFormalizing the six-factor evaluation frameworkStrengthening benchmarking practicesEnsuring governance through documentation and monitoringKey Takeaways:The proposed guidance emphasizes that prudence under ERISA is about having a sound, defensible process, not choosing perfect investments. The focus remains on consistency and documentation to reduce litigation risk.Performance, fees, liquidity, valuation, benchmarking, and complexity are now structured into a clearer framework. These factors guide decisions but still require judgment, not checklist thinking.Poor benchmarking, especially over-relying on custom or self-referential indexes, can hide weak decisions. Fiduciaries should use independent benchmarks that allow for meaningful comparison.Prudence extends beyond selection into ongoing oversight. A clear Investment Policy Statement, regular monitoring, and the use of qualified advisors help demonstrate a strong fiduciary process.“If you don't have the expertise to accomplish what you'd like, you should hire it... best practice is for just about all plans to hire an advisor.” - Eric DysonConnect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor and Employee Benefits Security Administration’s proposed rule on fiduciary duties in selecting investment options for participant-directed plans like 401(k)s, emphasizing prudence, documentation, and due diligence while exploring expanded fiduciary discretion.  He expresses his own feedback, raising concerns about the lack of some specificity on required benchmarks and questions the lack of guidance on the use of formal investment policy statements.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor's (DOL) proposed rule on private assets like private equity, credit, and real estate in defined contribution plans. The rule, expected for public comment very soon, will likely emphasize the fiduciary process for selecting and monitoring investments rather than setting specific asset allocation caps. Dyson highlights the importance of liquidity, valuation, and fee transparency in managing private assets. He suggests that committees and advisors should develop a clear evaluation framework, document decision-making processes, and align these with appropriate experts. Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

George Fraser is Founder and Chief Revenue Officer at GigMatch. This new “APP” will address the 96% of Americans who are currently feeling financial stress daily. Developed with his partner Tom Kmak, GigMatch will provide “HOPE” through opportunities to enhance income and lifestyle both today and in retirement. Before GigMatch, Fraser spent 34 years partnering with employers to craft exemplary retirement plans, execute their fiduciary responsibilities, and change the dynamic for retirement plan participants with a simple and easy-to-understand model.  Shlomo Benartzi and his team at UCLA, Carnegie Mellon, and Cornell conducted extensive research based on his “Pennies on the Dollar®” educational concept. In 2017, Fraser was named the inaugural recipient of 401 (k) Specialist Magazine's “TAPO”, Top Advisor for Participant Outcomes. In 2022, Fraser was named PLAN ADVISER Retirement Plan Adviser of the Year in the Community Impact and Giving Back category. He is a Chartered Retirement Plans Specialist (CRPS), Accredited Investment Fiduciary (AIF), Professional Plan Consultant (PPC), and Certified Behavioral Financial Analyst (CBFA).In this episode, Eric and George Fraser discuss:Shifting retirement messagingVisualizing financial progressLeveraging side gigsEmpathizing with real-life challengesKey Takeaways:Focusing on hope and empathy instead of fear or shame helps participants feel capable of saving and encourages proactive financial behavior.Concrete, relatable examples like pennies or props make abstract concepts such as compounding and long-term savings easier to grasp and remember.Connecting personal skills, passions, or unused assets to curated income opportunities allows people to increase earnings while maintaining lifestyle and meaning.Acknowledging individual circumstances and offering practical, achievable solutions builds trust, reduces shame, and motivates consistent financial action.“How have we been making people feel in this country about saving for retirement? It’s time to stop shaming them to save. It’s time to stop creating fear. We can have hope and optimism, and that is key. We need to have empathy.” - George FraserConnect with George Fraser:LinkedIn:  https://www.linkedin.com/in/drgeorgecfraser/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about ERISA 404(c) protection. He emphasizes the importance of this regulatory Safe Harbor, which shields fiduciaries from liability for participant-directed investment outcomes if certain conditions are met. Key requirements include offering a broad range of investment options, daily liquidity (although not explicitly stated in 404(c) - the norm for these days),  and sufficient information for informed decisions. Also required disclosures to participants that the plan intends to comply with ERISA 404(c).  Eric notes that many plans may not fully comply, especially with explicit 404(c) disclosures. He advises plan fiduciaries to revisit their compliance, confirm distribution of 404(c) notices, and document their processes to ensure they meet all requirements.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

Mike is the founder (in 1982) and CEO of Brandywine Asset Management, a featured subject of three books, numerous interviews and articles, and the author of a best-selling investment book. Brandywine has invested significant amounts over the past four decades in research to develop proprietary investment strategies and manage client assets pursuant to several successful investment programs. All of Brandywine’s investment programs are characterized by their ability to provide always-on downside protection while maintaining unconstrained upside exposure.In this episode, Eric and Mike Dever discuss:Maintaining upside exposure while limiting lossesCombining protection with additional return sourcesTaking advantage of market dips through disciplineControlling risk beyond traditional diversificationKey Takeaways:Focus on participating fully in growth opportunities while implementing strategies that actively reduce the impact of market declines. This approach allows you to capture most of the upside while protecting against large losses, ultimately supporting stronger long-term performance.Integrate downside protection with small, diversified return-driving strategies that work systematically. This combination helps cover the cost of protection while still generating incremental gains, ensuring that safety measures don’t come at the expense of growth.Use structured, rules-based approaches to respond to temporary market declines. By reinvesting strategically during these dips, you can take advantage of lower prices and improve compounded long-term results, turning volatility into opportunity rather than risk.Embed risk management directly into your investment approach rather than relying solely on shifting asset allocations. This method provides a more consistent, predictable way to manage volatility, ensuring that downside protection is built into the strategy itself instead of left to chance.“If we can stop a loss from being down 20% but it's only down 13, now we're recovering from a higher level.” - Mike DeverConnect with Mike Dever:Website: www.brandywine.com LinkedIn: https://www.linkedin.com/in/mikedever/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ Brandywine Asset Management Inc. is a Registered Investment Adviser with the United States Securities and Exchange Commission (SEC). Brandywine's Form CRS and other disclosure documents can be found on the SEC's website at www.adviserinfo.sec.gov, using CRD#307564. Registration does not imply a certain level of skill or training. BRANDYWINE'S PRODUCTS ARE NOT FDIC INSURED. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THERE IS THE RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN WHEN INVESTING WITH BRANDYWINE. NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. FOR FINANCIAL PROFESSIONALS.The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

For a demo of the Behavioral Governance Special Purpose Avatar - contact Eric Dyson at edyson@90northllc.com Don Trone, GFS™, is the CEO of the Behavioral Governance Institute (BGI), where he leads the development of Special Purpose Avatars (SPAs) designed to accelerate the professional development of leaders, stewards, and fiduciaries with governance responsibility. Widely known as the “Father of Fiduciary,” he has spent decades shaping fiduciary standards and governance practices. He was the founding CEO of fi360, the Center for Board Certified Fiduciaries, and the Foundation for Fiduciary Studies, and previously directed the Institute for Leadership at the U.S. Coast Guard Academy.A former U.S. Coast Guard helicopter rescue pilot, Don brings real-world experience from high-stakes environments to his focus on clarity, foresight, and accountability in governance. He has also testified before the U.S. Senate Finance Committee and the Department of Labor on fiduciary best practices.In this episode, Eric and Don Trone discuss:The origins of the Behavioral Governance Institute and why fiduciary standards alone are not enoughHow leadership behaviors and decision-making frameworks influence retirement outcomesThe development of “Special Purpose Avatars” is designed to support governance professionalsHow AI-powered avatars can deliver personalized professional development and trainingKey Takeaways:Behavioral governance expands the traditional fiduciary framework. Instead of focusing only on procedural prudence, it integrates leadership, judgment, ethics, and decision-making into governance responsibilities.AI-powered avatars are emerging as powerful tools for professional development. By curating expert knowledge in closed systems, these avatars help professionals strengthen their understanding of complex governance and fiduciary responsibilities.The future of professional education is shifting from traditional classroom-style programs to on-demand learning experiences. AI avatars enable a “Netflix-style” training model where professionals control when, how, and what they learn.Mastery-based learning loops represent a major advancement in professional education. Instead of allowing professionals to pass certification tests with partial understanding, avatars keep users in a training loop until they demonstrate full mastery of the subject.“If we had a better understanding of how certain leadership behaviors impact the quality of decision-making outcomes, we could have a material positive impact on the management of investment decisions.” - Don TroneConnect with Don Trone:Website: https://www.3ethos.com/ LinkedIn: https://www.linkedin.com/in/don-trone-89873013/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of understanding different fiduciary roles, particularly for ERISA plan committee members. He emphasizes the duty of loyalty, which requires acting exclusively in the best interest of plan participants, and the duty of prudence, which involves conducting oneself like an expert. Eric shares an example of a CFO recognizing the need to put the plan's interests above personal preferences. He also stresses that all committee members, regardless of their position, should have equal weight in fiduciary decisions and that personal interests should be set aside for the benefit of the plan participants.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

For over 30 years, Robin has helped Investment Consultants, Retirement Plan Advisors, and recordkeepers better understand their competition, improve efficiency, elevate client service, and win new business. She began her career as a retirement plan sponsor in healthcare and manufacturing before moving into consulting roles with Deloitte and North Highland, and later serving as Head of Research at Ann Schleck & Co. Following its sale to fi360, she became a Senior Vice President overseeing the Fiduciary Score.In 2018, Robin founded WinMore Plans and relaunched the Practice Management Benchmarking Study for retirement plan advisors. Today, she partners with hundreds of advisory firms nationwide, providing benchmarking, coaching, win/loss analysis, and valuation services to help advisors implement practical growth strategies.In this episode, Eric and Robin Green discuss:Positioning the advisor as a true business partnerCapturing a history of plan accomplishmentsDelivering meaningful financial wellness supportClarifying contracts, data use, and rising expectationsKey Takeaways:Advisors should be treated as strategic partners, not just investment technicians. Committees can formalize this by adding a recurring Strategic Business Discussion as the first agenda item each year. This ensures the retirement plan aligns with the company’s broader goals and workforce strategy.An important and very useful deliverable to consider; a concise document that tracks major milestones like fee reductions, vendor changes, and plan design improvements. This goes beyond an annual report by highlighting long-term strategic progress. It strengthens continuity during leadership turnover and supports the advisor’s value in RFP situations.In many cases, employers now expect help for participants beyond the retirement plan itself. Advisors should support broader financial wellness, including debt, budgeting, and outside assets. For many participants, this may be their only access to professional financial guidance.Sponsors should review recordkeeper contracts to understand participant outreach and data usage. Decisions about who can contact participants must be intentional and documented. Advisors who provide strategic insight and participant-level impact will stand out in today’s higher-expectation environment.“The plan sponsor, I want you to focus on your advisor as your business partner. Ask them, What am I missing? What else should we be doing here? And will you be my strategic business partner, not just tactical investment information?” - Robin GreenConnect with Robin Green:Website: https://winmoreplans.com/ LinkedIn: https://www.linkedin.com/in/robingreen/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about the pride and privilege of fiduciary duty, drawing parallels to Team USA's Olympic gold in hockey. He highlights the significance of the USA's gold medal win, emphasizing the team's unity and Coach Mike Sullivan's simple yet powerful message. Eric compares this to the fiduciary duty of ERISA professionals, urging them to see it as a privilege rather than a burden. Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

David J. Witz is a nationally recognized fiduciary governance expert with more than 44 years of experience in retirement plan consulting, ERISA compliance, and fintech solutions. He is the CEO and founder of Fiduciary Risk Assessment LLC, CEO of PlanTools, LLC, and co-founder and COO of Catapult HQ, Inc., where he leads executive management, product design, SaaS development, and fiduciary consulting. Over his career, he has served as an expert witness in major ERISA litigation, advised national financial institutions, authored and presented extensively on fiduciary risk and governance, and helped shape industry best practices through technology, education, and thought leadership.In this episode, Eric and David discuss:Using scorecards to filter, not decidePreferring consistency over hero-to-zero performanceMaking fiduciary decisions visible and defensibleRisk must be understood, not assumedKey Takeaways:IPS scorecards narrow the universe, but they don’t tell you which “10 out of 10” is actually better. “Consistently Good Occasionally Great”  (CGOG)  steps in as an alternate but compatible filter to evaluate pattern, persistence, and risk consistency. Selection becomes intentional, not defaulting to the lowest cost or the best recent return.CGOG favors “singles and doubles” over volatile home runs and strikeouts. Rolling-period analysis reveals whether excess returns are repeatable or masked by boom-and-bust cycles. The goal is to minimize large losses and avoid unpleasant fiduciary surprises.Clear visuals and documented processes allow committees to understand risk and return without deep technical expertise. IPS, monitoring reports, and CGOG together create a repeatable decision framework. If challenged, the process—not hindsight—becomes the defense.Rolling data and deeper analysis reveal behavior that point-in-time returns can hide. Looking beyond recent performance leads to more intentional portfolio construction.“Your scorecard is great at whittling down, filtering the universe into a smaller group where you can go deeper, but utilizing the scorecard as a baseline for selecting your funds is not a good idea. It does not give you the ability to look under the hood and determine why one 10 is a better 10 than another 10.” - David WitzConnect with David Witz:Website: www.plantools.com LinkedIn: https://www.linkedin.com/in/david-witz/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about the Employee Benefit Security Administration's January 29, 2026, proposal to enhance transparency into pharmacy benefit manager (PBM) fee disclosures. The proposal aims to provide ERISA plan fiduciaries with clearer information on PBM compensation, including direct and indirect revenue streams. If finalized, PBMs and associated brokers must disclose detailed compensation at regular intervals for the benefit of plan sponsors. Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

Jamie Hayes is the Senior Vice President at Wealthspire Retirement. She specializes in employer retirement plan fiduciary management and investment consulting. With over 20 years of experience in the retirement industry, Jamie works directly with corporations and governments, providing progressive, unique ideas and solutions to enhance retirement plan success while maximizing the fiduciary protection of the committee members. Jamie is a University of Michigan graduate. She and her husband, Bobby, have two teenage daughters.In this episode, Eric and Jamie Hayes discuss:Understanding fiduciary models in practiceEvaluating pricing, access, and conflicts thoughtfullyChoosing a fiduciary structure as a risk and trust decisionDesigning smarter advisor searches and RFP processesKey Takeaways:The real difference between 3(21) and 3(38) shows up less in meetings and more in authority, liability, and documentation. Under 3(38), advisors direct changes and assume more responsibility, enabling faster action while committees remain informed and oversight-focused.Not all 3(38) offerings are created equal, with some firms limiting fund choices or charging materially different fees. An open architecture approach can preserve customization, reduce conflicts, and unlock lower-cost share classes that meaningfully cut expenses.Committees often begin with 3(21) and move to 3(38) as confidence grows in the advisor’s process and judgment. Even in a discretionary model, fiduciary duty remains active through monitoring, questioning, and ensuring the advisor never runs on autopilot.Well-run RFPs emphasize context, clarity, and fit rather than volume, secrecy, or recycled templates.Clear timelines, focused questions, right-sized finalist pools, and experienced search consultants lead to better decisions and cleaner outcomes.“You don't want to just pick a template off the internet and go with that… The more information that you can give to the advisor in the beginning, the quicker and easier it's going to be for them to make a decision.” - Jamie HayesConnect with Jamie Hayes:Website: https://www.wealthspire.com/ LinkedIn: https://www.linkedin.com/in/jamiehayesqpfc/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson outlines three common process hiccups he believes need to stop. He emphasizes that an Investment Policy Statement (IPS) is a binding plan document under DOL guidance and warns against including language that suggests it does not have to be followed, while still allowing for reasonable flexibility. Eric also advises fiduciaries to stop keeping meeting minutes too brief, stressing that minutes should clearly document decisions, rationale, and demonstrate prudence and loyalty. Lastly, he discusses the cautious but potential value of retaining AI-generated meeting summaries, suggesting their benefits may outweigh discovery concerns. Overall, Eric encourages fiduciaries to review these practices with advisors and ERISA counsel to strengthen compliance and governance.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

Matthew Patrick is a senior manager on CAPTRUST’s Defined Contribution team. Matt joined CAPTRUST in 2014 and serves as a senior manager on the defined contribution team. His role encompasses the strategic planning and leadership of the team that manages CAPTRUST's discretionary services for defined contribution plans. He holds a Bachelor of Business Administration degree in finance from James Madison University and is a member of DCIIA. Matt holds the designation of Chartered Retirement Plans Specialist℠ (CRPS®).In this episode, Eric and Matthew Patrick discuss:Personalizing investing effectivelyMeasuring success by outcomes, not benchmarksApplying a documented fiduciary frameworkPrioritizing transparency in provider selectionKey Takeaways:Managed accounts tailor portfolios using plan and participant data, often combining core and non-core funds. Their true value comes from thoughtfully aligning the portfolio design with participant needs and plan demographics.Traditional benchmarking struggles when each participant has a unique portfolio. Committees should evaluate fees, engagement, and behavioral changes like savings rates and retirement readiness to gauge meaningful impact.DOL target-date guidance provides a practical model for evaluation. Committees should review methodology, underlying investments, fees versus value, fiduciary roles, and plan fit, while thoroughly documenting their rationale and process.Managed accounts can be offered by third parties, recordkeepers, or advisor-managed structures. Committees must clearly understand payments, fiduciary responsibilities, and ensure the sponsor actively engages and oversees participant outcomes.“You’ve got to start with best fit. You’ve got to start with appropriateness.” - Matthew PatrickConnect with Matthew Patrick:Website: https://www.captrust.com/ LinkedIn: www.linkedin.com/in/matthew-patrick-39759555 Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson discusses the concept of preparing for potential regulatory scrutiny, drawing a parallel between military readiness and fiduciary responsibilities. He suggests that fiduciaries should assume the Department of Labor (DOL) could audit a plan within six months, prompting them to focus on defensive and proactive measures like updating plan documents and ensuring due diligence. Eric emphasizes the importance of both defensive and offensive strategies, including proactive participant education. He advises fiduciaries to anticipate regulatory scrutiny and prepare accordingly to mitigate risks and ensure compliance.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

Kristen Deere is a Director in the Employee Benefit Plan Audit Services practice at Weaver & Tidwell, LLP. With over 20 years of experience in public accounting, she has specialized in auditing employee benefit plans throughout most of her career. Kristen leads audits for both private and public plan sponsors, covering a wide range of plan types, including defined contribution (401(k), 403(b), ESOP, 11-K), defined benefit, and health & welfare plans. Kristen has led audits for plans ranging from under $1 million to over $45 billion in assets, ensuring compliance with complex ERISA, DOL, and SEC compliance requirements. Her industry expertise spans not-for-profit organizations, government entities, financial services, energy, and a diverse portfolio of employee benefit plan administrators. She also champions technology innovation initiatives that enhance audit quality and efficiency.  In this episode, Eric and Kristen Deere discuss:Understanding why benefit plan audits existUsing technology to reduce audit burdenPreparing proactively for smooth auditsFollowing the plan document above all elseKey Takeaways:Department of Labor audits are required for large plans to confirm that operations follow the plan document. Their goal is to protect participants and ensure promised benefits are delivered accurately. Audits may surface issues or risks, but they are not designed as fraud detection guarantees.Employee benefit plan audits rely heavily on payroll, census, and record-keeper data. Audit software, structured spreadsheets, and direct system access improve accuracy and efficiency. When used well, technology makes audits less disruptive for plan sponsors.Successful plan sponsors stay organized throughout the year, not just during audit season. They maintain clear documentation, communicate changes early, and reconcile data regularly. This preparation prevents last-minute scrambles and repeated audit findings.Most audit issues trace back to operations drifting from the written plan document. Payroll, record keepers, and processes must all align with what the plan actually says. Reading, understanding, and following the document is the strongest safeguard against errors.“They can outsource the function, but they can’t outsource the responsibility.” - Kristen DeereConnect with Kristen Deere:Website: https://weaver.com/ LinkedIn: https://www.linkedin.com/in/kristen-derryberry/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about seeking more plan sponsors as podcast guests to provide valuable insights to other committee members and peers, service providers, advisors, and other professionals in the ERISA retirement and healthcare sectors. Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.The opinions expressed by guests are not necessarily agreed by, or the same opinions of 90 North Consulting or of Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson encourages plan fiduciaries and advisors to set structured, written goals for 401(k) plans in 2026, contrasting them with the low success rate of New Year's resolutions. He cites a Harvard MBA study showing that only 3% of the graduating class had written goals.  Their success far exceeded the remainder. Eric emphasizes the importance of specificity, measurability, and accountability in goal setting. He shares personal experiences with fitness apps and discusses key performance indicators (KPIs) for defined contribution plans, such as average projected income replacement ratios. Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

For over 20 years, Shannon and her team at Tristar Pension Consulting have acted as a secret weapon for financial advisors, CPAs, small businesses, and plan sponsors. They are the go-to resource for plan design, fixing broken retirement plans, client presentation support, and high-touch customer service.Since starting the firm over two decades ago, her goal has been to provide a deeper level of retirement plan knowledge and service for clients, as well as a flexible workplace for employees. Today, they are one of the leading providers of retirement plan administration for small businesses.Shannon is a credentialed member of the American Society of Pension Professionals and Actuaries (ASPPA) and the National Institute of Pension Administrators (NIPA). She currently serves on the ASPPA Leadership Council and as the current year’s President.  She has also served on several fundraising committees and supports many non-profits locally, such as Infant Crisis Services, Make a Wish Oklahoma, and Cleats for Kids.If you are a financial advisor, CPA, or business owner with retirement plan questions, please be sure to connect with Shannon on LinkedIn. You can also email her at shannon@tristarpension.com.The podcast mentions a resource on the Tristar Pension webpage. It is available at - https://www.tristarpension.com/tpa/compliance-administration-checklist In this episode, Eric and Shannon Edwards discuss:Understanding fiduciary roles clearlyEvaluating service providers carefullyComparing plan structures strategicallyBuilding knowledge and relationships proactivelyKey Takeaways:Different fiduciary types—3(16), 3(21), 3(38), and 402(a)—carry distinct responsibilities and authority levels. Plan sponsors must still monitor and fulfill their duties, even when delegating to these fiduciaries.Reading service agreements and using checklists clarifies who does what and prevents misunderstandings. Tools like the ARA TPA Checklist help sponsors ask better questions and assess compliance partners effectively.Pooled Employer Plans (PEPs) can expand access but may introduce higher costs, operational complexity, and exit challenges. Sponsors should weigh total cost, services, and fiduciary responsibilities when choosing between PEPs and standalone plans.New benefits managers and advisors benefit from targeted education and responsive compliance partners. Continuous learning and relationship-building ensure fiduciary effectiveness and confident plan management.“Your fiduciary duties are not gone. You are still submitting contributions, you are still supposed to be monitoring your 3(16) fiduciary, you’re still supposed to be checking to make sure things are done properly.” - Shannon EdwardsConnect with Shannon Edwards:Website: https://www.tristarpension.com/ LinkedIn: https://www.linkedin.com/in/shannonedwardsplanconsultant/ Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.