Excessive Fee Suits Target CIT Choice Issues
Filed in the U.S. District Court for the Northern District of Illinois, eight former workers of Astella US LLC, a drug company, are suing plan fiduciaries of the company, criticizing the plan’s size and how…
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Is It a Fiduciary Breach not to Have Cyber Liability Insurance?
Under ERISA, fiduciaries are subject to the prudent expert standard of care, in which they have to act with diligence, care, and skill in their field. They also owe a duty of loyalty to plan…
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DOL Releases New Fiduciary Rule
The Labor Department has revealed its long-awaited fiduciary rule, along with some novel implications for record-keepers, rollover and Pooled Employer Plans advice. Titled “Improving Investment Advice for Workers & Retirees“, the proposal offers a new…
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Plan Sponsors Specifically Threatened by Cyber Attacks
Retirement plans and, specifically, their plan sponsors are being threatened more and more by cyber attacks. Recordkeepers, custodians, and third party administrators are being attacked due to all the valuable personal data they harbor and…
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Why Small and medium-sized enterprises are Expanding Cyber Insurance Budgets
During this time of uncertainty, industries are particularly vulnerable to cyber breaches. Last year alone, ransomware targets forfeited over $1.3 billion to hackers, including high-profile victims like hospitals, airlines and retailers. However, small businesses are…
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Massachusetts Recognizes ERISA in Novel Fiduciary Conduct Standard
On February 21st, 2020, the Massachusetts Secretary of the Commonwealth filed the final rule of a fiduciary conduct standard for investment advisers, their representatives, broker-dealer, and their agents operating in the commonwealth, hired by plan…
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Why Should You Bond Your Cleaning Business?
When cultivating a new business, your reputation is but a mere seed sown in luscious soil. One way to help nourish your company’s social standing is by taking steps to ensure customer protection and satisfaction….
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6 Cyber Security Tips for Small Businesses
In this digital province where everyone’s information is found online, it’s a no brainer to make cyber security a priority. When protecting your business and its valuable data, it’s never a smart idea to cut…
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The Benefits of the Partnership Account for Pension Professionals
If you are a pension professional, you understand how taxing it can be overseeing employee benefit plans. As retirement benefits and plans transform over time, fiduciary duties remain obscure and ever-changing. This process can be…
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