Meaningful benchmarks can make or break your fiduciary process—and even land you in litigation if you get them wrong. In this Friday Fiduciary Five, Eric breaks down how to choose benchmarks that truly align with your investment policy, target date funds, and fiduciary duty.

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

When does a benchmark actually become “meaningful” — and what does that have to do with your retirement committee meetings? In this episode, Eric and ERISA attorney Bonnie Treichel unpack retirement sketchbooks, DOL proposed regs, and how fiduciaries can align process, purpose, and benchmarks without getting lost in the legal weeds.

In this episode, Eric and Bonnie Treichel discuss:

• Purpose and design of Your Retirement Sketchbook
• Making money conversations a “dinner table” topic
• Benchmarks and “meaningful benchmarks” in retirement plans
• 3(21) vs. 3(38) fiduciary roles and investment policy statements
• DOL proposed regulations, litigation trends, and action items for committees

Key Takeaways:

• Retirement conversations don’t have to be intimidating; using accessible, bite-sized topics can turn money into a normal “dinner table” discussion across generations.
• An investment policy statement is only useful if it reflects reality; committees must periodically review it and ensure their actual practices match the documented process.
• Benchmarks are not just numbers on a report; selecting and understanding the right benchmark is central to evaluating performance and defending fiduciary decisions.
• Delegating to a discretionary investment manager does not eliminate responsibility; plan sponsors still “own” the policy and must prudently select, monitor, and understand their 3(38) relationship.
• Prudence is about process, and loyalty is about purpose; without both, even technically sound procedures can fail participants if they aren’t anchored to what’s right for that specific plan and its people.

“The big action item is to look at your investment policy statement and see if it says anything about what benchmark is being used. Number two, look at your actual investment report and see, okay, what are the benchmarks being used?” - Bonnie Treichel

Bonnie’s passion is sharing her knowledge with financial advisors. When she founded Endeavor Retirement, her goal was to make retirement legislation easy to understand. She keeps advisors up to date on the rules and regulations through her webinars, presentations, and consultations. The result — advisors and consultants help more people access their retirement savings.

Connect with Bonnie Treichel:

Website: https://endeavor-retirement.com/ 

LinkedIn: https://www.linkedin.com/in/bonnietreichel/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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 DOL and EBSA guidance for DC plan investment selection. Eric discusses the complexity factor in investment decisions, emphasizing the need for clear definitions in investment policy statements (IPS). He highlights the operational constraints and management issues associated with private assets in target date funds. 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

Learn how a seasoned Total Rewards leader evaluates advisors, builds strategic vendor relationships, and navigates innovation like AI and retirement income—while keeping benefits simple, human, and effective. This conversation pulls back the curtain on what plan sponsors really value and how benefit professionals can stand out.

In this episode, Eric and Ira Finn discuss:

• Career path into benefits and total rewards
• Networking, conferences, and professional associations (PSCA, NAPA, WorldatWork)
• How young benefit professionals can stand out
• What makes service providers indispensable vs. replaceable
• Future of total rewards, AI, integration, and retirement income innovation

Key Takeaways:

• Starting in the call center or “at the bottom of the ladder” can be a powerful foundation, because you learn plans directly through employee questions and real-world issues.
• Consistent networking through associations, conferences, and peer groups delivers long-term career leverage and insight that you simply can’t get inside your own company.
• The best service providers act as a seamless extension of the HR team: responsive, relationship-driven, and focused on solving problems quickly rather than sending long, dense emails.
• Committees need structured, staged education on emerging solutions like retirement income; HR must be the expert in the room and guide that process over multiple meetings.
• AI and better system integrations are reshaping total rewards, and those who learn how to harness these tools to save time and improve employee experience will be better positioned for the future.

“It's a people business, and having that personal relationship, being able to answer questions, knowing that I have someone that I could count on, that is critical to me." - Ira Finn

Ira Finn is a seasoned expert in Total Rewards with over 10 years as Head of the department. Ira started his career in a customer call center, answering questions about health, wellness, and retirement. Known for his adaptability, leadership, and strategic thinking, Ira has extensive global experience in total rewards, including compensation, equity plans, benefits, and HCM systems. He's managed global rewards through over 40 mergers and acquisitions in the past five years. Ira is also a past president of the Plan Sponsors Council of America, has served on the Empower Retirement client council, and was a member of the American Retirement Association's leadership committee. Outside of work, Ira is a proud dad to three incredible women and two goldens. Stay tuned for insights and stories from this industry leader.

Connect with Ira Finn:

LinkedIn: https://www.linkedin.com/in/benefitsofhr/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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 challenges of ERISA fiduciary training, emphasizing the need for meaningful education that moves beyond simple "box-checking" exercises. He highlights the Behavioral Governance Institute’s innovative approach to learning, which utilizes a Special Purpose Avatar (SPA) to facilitate interactive, high-retention training.

Eric describes a specific scenario in which he used the avatar to assess and sharpen his expertise regarding 408(b)(2) disclosures, benchmarking, and RFPs. By providing scenario-based quizzes and real-time feedback, the avatar ensures a practical, hands-on understanding of complex regulations. Eric encourages service providers and plan committee members to adopt these modernized training methods to better fulfill their fiduciary responsibilities.

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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 top five potential risks and considerations for ERISA plan fiduciaries in light of proposed guidance from the Department of Labor's Employee Benefits Security Administration (EBSA). He emphasizes that Safe Harbor is not a shield but a presumption, requiring ongoing monitoring and documentation.

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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 and EBSA's proposed rule on selecting investment alternatives for defined contribution plans, which is still in the proposed stage and open to public comment. He outlines five opportunities for fiduciaries: a clearer definition of prudence, a process-based Safe Harbor providing a presumption of prudence, expanded investment flexibility, reduced litigation friction, and improved portfolio diversification opportunities. 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

Discover how plan sponsors, HR, and benefits professionals can move from “figuring it out as they go” to confidently running sophisticated 401(k) and 403(b) plans—with free training, powerful credentials, and a national community behind them. This episode breaks down the CPSP credential, PSCA membership, and why better‑educated committees lead to better retirement outcomes.

In this episode, Eric and Will Hansen discuss:

• American Retirement Association and its five member organizations
• History and mission of the Plan Sponsor Council of America (PSCA)
• CPSP credential: who it’s for and how it works
• Free virtual classrooms sponsored by advisors and providers
• PSCA membership benefits, governance, and fiduciary training for committees

Key Takeaways:

• American Retirement Association and its five member organizations
• History and mission of the Plan Sponsor Council of America (PSCA)
• CPSP credential: who it’s for and how it works
• Free virtual classrooms sponsored by advisors and providers
• PSCA membership benefits, governance, and fiduciary training for committees

“An educated client is an engaged client.” - Will Hansen

Will Hansen joined the American Retirement Association (ARA) in January 2019 as Chief Government Affairs Officer.  Since January 2020, he has also served as Executive Director of the Plan Sponsor Council of America, which is a part of ARA. Previously, Will served as an employee benefits attorney at a multi-national law firm, legislative counsel to a United States Senator, staff director of the United States Congress’ Joint Economic Committee, global employee benefits manager for a Fortune 200 company, and SVP for Retirement & Compensation Policy at The ERISA Industry Committee (ERIC).

Connect with Will Hansen:

Website: https://araadvocacy.org/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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's (DOL) new enforcement priorities, as outlined in Field Assistance Bulletin 20-2601. The DOL will focus on egregious conduct, the duty of loyalty, timely investigations, and senior-level reviews. 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.

The Department of Labor’s new proposed safe harbor could fundamentally reshape how retirement plan fiduciaries think about prudence, litigation risk, and innovation. In this episode, you’ll hear a practical roadmap for committees and advisors to prepare now, before the rule is finalized.

In this episode, Eric and Joel Shapiro discuss:

• Scope and intent of the DOL’s proposed investment safe harbor
• Prudence as process and the shift from products to frameworks
• The six-factor test: performance, fees, liquidity, valuation, benchmarking, complexity
• Litigation risk, meaningful benchmarks, and documentation standards
• Practical guidance for plan committees, advisors, and the use of 3(21)/3(38) experts

Key Takeaways:

• The DOL’s proposed safe harbor is intentionally asset-class neutral and process-focused, offering fiduciaries a clearer roadmap rather than product-specific rules.
• Meeting the six factors—performance, fees, liquidity, valuation, benchmarking, and complexity—can create a presumption of prudence, but that presumption is still rebuttable.
• Proper documentation of analysis and decisions is just as critical as conducting a prudent process; “showing your work” is central to defending fiduciary actions.
• The proposal directly targets perceived abuses in litigation and encourages innovation (including alternatives) without sacrificing participant protections.
• Committees should honestly assess their internal expertise and strongly consider engaging a 3(21) or 3(38) fiduciary to help operationalize the safe harbor and ongoing monitoring responsibilities

“For you as fiduciaries, don't pursue innovation for innovation's sake, or don't just jump on whatever the train is for the current trend; you still have to take control of the fiduciary wheel.” - Joel Shapiro

Links referenced during the podcast recording:

• DOL Fact Sheet 
• DOL Proposed Rule
• Joel Shapiro Whitepaper
• 90 North Newsletter 

Joel Shapiro brings over 30 years of ERISA and fiduciary consulting experience to the firm’s retirement advisory platform. A former ERISA attorney and seasoned consultant, he focuses on translating complex regulations into practical strategies for Plan Sponsors and strengthening the firm’s ERISA framework. He has advised large Plan Sponsors on plan design, fiduciary governance, and compliance, and is widely recognized for developing ERISA playbooks and best-practice fiduciary models that balance rigor with efficiency. Joel holds degrees from Tufts University, American University’s Washington College of Law (J.D.), and Georgetown University Law Center (LL.M. Taxation), and is a frequent speaker at national retirement conferences.

Connect with Joel Shapiro:

Website: https://www.wealthspire.com/ 

LinkedIn: https://www.linkedin.com/in/joel-shapiro-wealthspire/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

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.