Please note: This is a transcription so there may be slight grammatical errors.
Dawn McPherson: As retirement plan sponsors know well, the responsibilities and requirements of complying with laws, standards and best practices are significant and evolving. At CAPTRUST, we find that most organizations, regardless of size, choose to rely on a plan committee to oversee and make critical decisions related to their retirement plan. Because of this, a plan committee and its members can shoulder a heavy load as they continuously monitor and make decisions regarding the plan’s investments, operations, administration, fees, and more.
If you sponsor a retirement plan, one of the best things you can do for your committee members and your organization is to provide these individuals appropriate training. Plan fiduciary responsibilities are outlined in the Employee Retirement Income Security Act of 1974, more commonly referred to as ERISA. Formal fiduciary training is an effective way to ensure your committee members understand not only these ERISA-specific responsibilities, but also understand that they must act exclusively in the best interest of plan participants and their beneficiaries.
ERISA, like most other laws, has evolved over time through legislative changes and updated regulatory guidance, so unfortunately plan fiduciaries can’t just set it and forget it. Rather, they must stay up to date on the shifting requirements of their role. Ongoing training builds a deeper level of understanding by helping committee members stay informed of current industry trends, updated regulations, and outcomes from plan-related litigation. In fact, while not a requirement, the Department of Labor views fiduciary training as such a critical component of prudent oversight that it frequently looks for evidence of training during plan investigations.
As part of our ongoing service and commitment to our clients, CAPTRUST offers comprehensive fiduciary training to meet committee members’ needs. In our experience, a well-educated committee is also a highly functioning committee, and a highly functioning committee is your best tool for minimizing fiduciary risks.
We invite you and your committee members to join us for an hour each quarter as we cover topics ranging from fiduciary fundamentals to ever evolving best practices. If you need more information on fiduciary best practices, don’t hesitate to reach out to your CAPTRUST advisor, and be on the lookout for invites to our quarterly webinars.
Disclosure: CapFinancial Partners, LLC (doing business as “CAPTRUST” or “CAPTRUST Financial Advisors”) is an Investment Adviser registered under the Investment Advisers Act of 1940. However, CAPTRUST video presentations are designed to be educational and do not include individual investment advice. Opinions expressed in this video are subject to change without notice. Statistics and data have come from sources believed to be reliable but are not guaranteed to be accurate or complete. This is not a solicitation to invest in any legal, medical, tax or accounting advice. If you require such advice, you should contact the appropriate legal, accounting, or tax advisor. All publication rights reserved. None of the material in this publication may be reproduced in any form without the express written permission of CAPTRUST:
Best-selling author and minimalist advocate Joshua Becker shares two decisive moments that redirected his life from consumer-driven clutter to purpose-driven impact—and ultimately to founding the nonprofit The Hope Effect.
The Garage Epiphany
While spring-cleaning his Vermont garage, Becker realized that endless piles of possessions were costing him precious Saturday hours with his five-year-old son swinging alone in the yard. That flash of clarity sparked a household experiment: donate, sell, or recycle anything that didn’t add lasting value. The more items he removed, the more time, money, and mental bandwidth he gained for family and community.
Minimalism Meets a Book Deal
Publishers soon noticed Becker’s popular blog, Becoming Minimalist, and nine out of ten houses bid on his first manuscript. Confronted with a sizable advance, he and his wife faced a credibility test: Would they use “anti-consumerism” dollars on a bigger house and car, or channel them toward something meaningful? They chose the latter—seeding The Hope Effect to transform orphan care overseas.
The Hope Effect’s Mission
In many developing nations, orphaned children grow up in large, impersonal institutions. Becker’s organization works with local governments to shift from warehouse-style orphanages to family-based foster care—mirroring the U.S. model so kids receive individualized attention, affection, and stability. Funds from speaking engagements and book royalties help finance policy advocacy, caregiver training, and pilot homes in Mexico and Honduras.
Takeaways on Intentional Living
Time is the rarest asset. Possessions demand maintenance; experiences and relationships generate memories.
Define success by service, not stuff. For Becker, life felt richer once he judged prosperity by “how many people we picked up along the road.”
Align windfalls with values. His advance became seed capital for social impact—a tangible reminder that money is a tool, not a trophy.
Minimalism scales. Whether clearing a closet or rewriting orphan-care policy, the discipline of asking “Does this matter?” yields outsized results.
Watch the full VESTED Voices episode to see how decluttering led Becker to a mission that outlives any big-screen TV—and read his deeper reflections in the companion VESTED article “Retirement on Purpose.”
Video Synopsis – “VESTED Voices: Major General Angie Salinas”
In this inspiring episode of VESTED Voices, retired U.S. Marine Corps Major General Angie Salinas shares how humble beginnings, hard work, and early lessons in financial independence helped shape a trailblazing career—and now fuel her passion for empowering the next generation through education and service.
1. Early Lessons in Earning and Saving
Raised by working-class parents in Texas, Salinas recalls her first major financial milestone: saving $15 for a used bike by selling TV Guides door-to-door. That moment sparked a lifelong understanding of the value of earning your own money and the freedom it brings. She later carried that mindset into the Marines, saving nearly all of her first paychecks to build a foundation for the future.
2. Financial Literacy as a Lifelong Priority
Today, Salinas serves as CEO of the Girl Scouts of Southwest Texas, where she champions financial literacy programs that teach young girls how to manage money, balance a checkbook, and use credit wisely. For Salinas, financial confidence is not just about dollars—it’s about creating choices and opportunities down the line.
3. Investing in the Next Generation
Whether mentoring a young Latina Girl Scout or speaking to high school students, Salinas emphasizes the power of belief and early investment. She sees herself in the eyes of the girls she serves and encourages all adults to invest in programs that lift up future leaders.
Key Takeaway:
From TV Guide sales to military service to nonprofit leadership, Salinas proves that discipline, savings, and service can change a life—and ripple outward to change many more. Watch the full video and read her full profile in the Fall 2022 issue of VESTED magazine to see how her story exemplifies financial resilience and purposeful second acts.