Anyone–and Everyone: ERISA Lawsuits

A recently filed ERISA lawsuit underscores a scary reality: essentially anyone, and everyone, involved in the management and administration of a retirement plan can be personally named in the allegations. In addition to sweeping the “named fiduciary” into costly and...

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Flawed And Reckless Provider Selection?

Although courts have dismissed some of the excessive fee allegations against retirement plan fiduciaries, claims show no sign of stopping. In fact, ERISA experts point out that lawyers for plaintiffs, having learned from the dismissals, are digging deeper. Failure To...

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Retirement Plan Loan Errors

What’s 12.5% of 60 million? A lot—and that’s the approximate number of retirement plan participants who have outstanding loans against their savings. ERISA experts point out that “a lot” also represents the administrative errors made related to loans. Here’s what...

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Where Do You Stand?

With workers reporting heightened fears about not having enough income to retire, plan sponsors are becoming increasingly active with retirement plan design. Specifically, a new survey by PGIM finds that plan sponsors are educating themselves on the possibilities of retirement...

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Ups and Downs?

So far, 2023 has not been a great ride for plan sponsors: litigation and compliance issues are up—and participant confidence in retirement is down. A first quarter analysis points to a variety of challenges sponsors will want to take seriously....

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Best Practices: #9 and #12

  While it is necessary for retirement plan sponsors to follow all of the cybersecurity best practices prescribed by the Department of Labor, numbers 9 and 12 on the list hold particular importance: following them can prevent incidents from sky-rocketing...

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Final Rule: The DOL and ESG

  The U.S. Department of Labor has released it’s final rule on ESG factors in retirement accounts: while plan fiduciaries may consider environmental, social and governance factors when selecting investments for the plan, they are not obligated to do so....

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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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Needs, Wants and Wishes Too

  How much do you need to save to achieve your monthly budget for retirement? This question exemplifies how traditionally, retirement planning tools rest on an assumption that somehow, magically, once we retire, our expenses will be static. Experts point...

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Recordkeepers and Their Providers: Diligence!

  The role of employers in helping workers plan and save for retirement is growing and recordkeeping service providers are responding with expanded offerings, often provided through third parties. Accordingly, when selecting and monitoring recordkeepers, plan sponsors need to understand...

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