What to look for in software for health plan fiduciary compliance — document management, committee governance, security, and audit readiness — and how to evaluate it like a fiduciary.
Look for coverage of the whole fiduciary process — committee governance, plan document management, compliance calendars for filings and CAA obligations, vendor oversight records, and audit-ready organization — plus credible security and an audit trail. A tool that only stores files digitizes the problem; the value is a managed, provable process.
Read the full answerThe features that matter are structure (documents organized by plan and category, not a shared-drive pile), version control with history, access permissions by role, distribution evidence for participant disclosures, retention aligned with ERISA's six-year-plus requirements, and fast retrieval — because the test of a document system is producing the right record on demand.
Read the full answerIt can be — and well-run cloud platforms typically exceed the spreadsheet-and-shared-drive status quo they replace. The DOL's cybersecurity guidance gives fiduciaries the yardstick, namely a documented security program, independent audits, encryption in transit and at rest, access controls, and breach-notification commitments. Vet the vendor like the fiduciary decision it is.
Read the full answerCAA obligations are recurring and evidence-heavy — annual gag clause attestations, RxDC reporting each June, machine-readable file postings, broker compensation disclosures, and the NQTL comparative analysis. Software helps by calendaring each obligation, assigning owners, and filing the completion evidence, turning scattered annual scrambles into a tracked program.
Read the full answerAudit readiness is the ability to produce an organized, complete response to a DOL document request quickly. Software supports it by keeping the fiduciary file assembled continuously — governance records, documents, filings, vendor files, and compliance evidence in one indexed system — so the audit response draws on files that already exist, current and findable.
Read the full answerPut these answers to work
Fiduciary In A Box was built against exactly these criteria — committee governance, document management, compliance tracking, and audit-ready fiduciary files for health & welfare and retirement plans in one platform.
See how FIAB works