ERISA Advisory Council Provides Guidance to DOL
The ERISA Advisory Council has provided guidance to the U.S. Department of Labor (DOL) on ERISA fidelity bonds and what the requirements should be in order for a fidelity bond to be DOL compliant. The…
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Best Cyber Defense Practices May Not Stop Data Breaches
You can read guides on how to best protect sensitive data stored by a 401(k) plan related to its participants and funds. Monitoring and securing accounts on a regular schedule can help make sure that only the…
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What is a Retirement Plan Breach of Fiduciary Duty?
Typically, when you think of a breach of fiduciary duty involving a retirement plan, you think of a plan sponsor acting in their own self-interest. They use their position with the plan for their own…
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Data Breach Sends Equifax Executive to Jail
Former Equifax CIO Jun Ying has been sentenced to four months in prison for insider trading. Ying was found to have sold Equifax stock after the famed data breach was discovered but before the public was aware…
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Plan Fiduciary Breach Complaints Rise as Markets Fall
The biggest thing that plan fiduciaries can do to prevent claims of fiduciary breach is to implement and follow prudent fiduciary policies, procedures, and practices. This would theoretically cover issues involving costs, conflicts, and due…
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Recovering from a Data Breach Requires the Professionals
Managing and containing a data breach is not something a normal business person knows how to do. Cyber attackers are more sophisticated than ever and are going to stay a step ahead of a layman…
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ERISA Ambiguities Lead to Confusion Over Fiduciary Duties
More and more cases related to ERISA duties are winding their way through the courts and could have a large impact on plan sponsors and how they will be able to manage their employee benefit…
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Half of Manufacturers Have Had a Data Breach in the Last Year
Manufacturing is one of the biggest blue collar industries in the United States, but with technology making manufacturing processes more and more efficient and processes having to be expertly and exactly tracked by computer systems…
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Pension Professionals: Simplify the ERISA Bonding Process
Managing employee benefit plans seems to keep getting more and more complicated every year. Fiduciary duties remain opaque and retirement plans and benefits have morphed over time. One of the more confusing processes for the…
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