Episode
[Series 65] 56, ERISA and Plan Fiduciary Standards
- Podcast
- Open Exam Prep
- Published
- May 19, 2026
- Duration seconds
- 197
- Processing state
not_requested- Canonical source
- https://open-exam-prep.captivate.fm/episode/series-65-56-erisa-and-plan-fiduciary-standards
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Summary
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That ERISA governs private-sector retirement plans to protect employee assets. - The 'prudent man rule' requires fiduciaries to act with the skill and care of a knowledgeable expert. - Prohibited transactions, such as self-dealing or transacting with a party-in-interest, are strictly forbidden to avoid conflicts of interest. - Plan sponsors have a fiduciary duty of loyalty to act exclusively for the benefit of plan participants. - The Department of Labor enforces ERISA and can levy significant financial penalties for violations. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep