Procedural Prudence: The Fiduciary’s Handbook for Management of Retirement Plan Assets

October 6, 2008

Procedural Prudence: The Fiduciary’s Handbook for Management of Retirement Plan Assets Customer Review: Procedural Prudence
Procedural prudence is a legal term that has evolved to describe the appropriate activities of a person (or persons) who is responsible for the retirement assets of others. Such person is a fiduciary because of his (her) discretionary authority or management responsibility for these retirement assets. State and federal bodies have legislated conceptual “procedures” that must be followed by persons responsible for the management of retirement assets. Since the enactment of the Employee Retirement and Income Security Act of 1974 (ERISA), the federal courts have issued numerous decisions that have slowly molded these procedures into a broad body of law governing fiduciary conduct. This handbook translates these conceptual procedures into practical guidelines that can be followed by the fiduciary.
— from book’s introduction