Understand your risks as a retirement plan fiduciary

August 1, 2003

Q I am currently acting as the trustee of my urology practice's retirementplan. How do I avoid potential liability issues as my plan's fiduciary?A As more physicians become aware of their need to limit theirliability exposure both personally as well as professionally, it's importantto understand the risks of acting as a fiduciary of a qualified retirementplan. Qualified retirement plans are defined as those that are congressionallyapproved and have the following major tax benefits: