Admit it: Your company, as a 401(k) sponsor, and company-decision makers who direct plan operations (including in-house trustees), are ERISA fiduciaries. Dont quibble about this, but take a step back and figure out what to do about it.
Youve read about investment advisers who can assist in performing investment duties and fiduciary insurance for protection (not to be confused with the required ERISA fidelity bond that does not protect fiduciaries). Those options may make sense for you, and maybe not. But, whether or not you use an investment adviser or purchase fiduciary insurance, there are other more basic steps to take.
