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Notifications: Plan Sponsor Responsibilities When you sponsor a retirement plan, like a 401k, you are ultimately responsible for ensuring that participants receive all required information in a timely manner. This is true even if you outsource administration, including notifications to a third party: you... Article
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Why Are ERISA Bonds Required? When you sponsor a retirement plan for your employees, they are trusting you with their money. A single act of fraud or dishonesty related to the plan funds can have a devastating impact. That’s why, for the protection of the... Article
Cyber Failure Plus Fiduciary Breach? Yes. When you sponsor a retirement plan, like a 401k, you are automatically a fiduciary, so in the event cybersecurity failures impact the data or savings of participants, you can face fiduciary breach allegations and be held personally liable. Even... Article
Red Flags for 84% of Retirement Plan Sponsors? Analysis of nearly 800,000 Form 5500 filings reveals that the majority of retirement plan sponsors have at least one “red flag violation.” Since both regulatory compliance and fiduciary shortcomings are a very big deal under ERISA, plan sponsors will want... Article
Red Flags: Financial Distress? No one wants to enter into a business contract with a project owner that is in bad financial shape. Sometimes, the red flags are obvious: like a media headline or industry report. More typically, signs of distress are more subtle.... Article
Arbitration vs Litigation? In construction, successfully fulfilling all contractual obligations is often way easier said than done. Before disputes over errors and omissions turn into costly and time consuming court battles, try arbitration. In addition to saving time and money, arbitration can... Article