The Partnership Account® for Professional Fiduciaries

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Estate Planning: Fiduciaries?

Among the many reasons why it is critical to create an estate plan, anchored by a will and or trust, is the designation of one or more fiduciaries who understand and are committed to carrying out the plan. Far from...

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Back Up Plan: Fiduciaries!

One of the most important aspects of estate planning is the designation of fiduciaries: the people entrusted to manage our affairs, in accordance with our intentions. Because life takes twists and turns, attorneys advise naming both fiduciaries and successor fiduciaries...

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Failure To Monitor Other Fiduciaries

Retirement plan sponsors are not only responsible for their own actions—they are obligated to monitor the other fiduciaries of the plan. Failure to monitor can result in being named personally liable in a lawsuit, which puts personal assets in jeopardy....

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Fiduciaries and Committees

  With more then half of all federal district courts now presiding over ERISA class-action cases, plan sponsors and other fiduciaries must be prepared to defend themselves against allegations of retirement plan mismanagement and other fiduciary breaches.   Properly Functioning...

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Are Trustees Fiduciaries?

Yes! When a trust is created, the trustor (or grantor) names a trustee to administer the assets in accordance with their wishes. Trustees are fiduciaries—held to the highest duty of care in executing their responsibilities. Legal experts provide examples of...

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Action Steps for Fiduciaries: Cybersecurity

  Observing that the cybersecurity guidance provided this year by the Department of Labor (DOL) is very high level, leaving details somewhat fuzzy, legal experts suggest specific actions for plan fiduciaries. Beware that the DOL has not delayed the effective...

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Fiduciaries Accused of Breaching Duties

  As the swell of ERISA lawsuits continues, court rulings serve as reminders to all plan fiduciaries to actively and continuously monitor and control investment costs.  The  precedents set in large settlements are opening the doors to more cases and...

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Challenging Plan Fiduciaries: Examining A New Class Action Case

  Were better investment options available? Why were the record-keeping fees so high? These are among the questions behind a new 401(k) class-action case challenging a Coca-Cola Bottlers’ Association—and the plan fiduciaries. Alleged ERISA Violations in 401(K) Retirement Plan Management...

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Prudence and Loyalty: New Regulations for Plan Fiduciaries

As anticipated, the U.S. Department of Labor (DOL) has released a final rule updating and detailing the fiduciary duties of prudence and loyalty under ERISA. Plan Sponsors: Pay Attention—Even When Voting By Proxy! The new DOL regulations emphasize the critical...

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