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 plans. Cases asking for clarity...

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NYC Law Firm Releases 2019 Fiduciary Guide

It is hard for a fiduciary to determine what exactly would be a breach of their fiduciary duty to a retirement plan. That is where New York based law firm Cohen & Buckmann, P.C.’s 2019 “Intelligent Fiduciary Guide” comes in...

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The Different Types of Data Breaches

The popular image of a data breach is a hacker in his mother’s basement breaking into the mainframe and stealing everything they want. But data breaches very rarely happen in that manner. Cyber criminals keep innovating but breaches may be...

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Nearly Half of New Jersey Accounts Hacked in 2017

New Jersey’s population is currently just under nine million. Over four million New Jersey accounts were affected by data and security breaches in 2017. How can you protect yourself? There are some simple steps a plan sponsor or individual can...

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New Jersey Excludes ERISA Plan Fiduciaries From New Fiduciary Standards

After letters and testimony from the American Retirement Association, New Jersey has excluded ERISA plan fiduciaries from the state’s upcoming new and expanded fiduciary standards. ERISA will preempt this regulation, allowing for the single nationwide standard under ERISA to remain...

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Moving a 401(k) Between Jobs is About to get Simpler

A proposed exemption by the U.S. Department of Labor to the Employee Retirement Income Security Act of 1974 (ERISA) designed to allow easier transfer of a 401(k) from one job to another is expected to be finalized this summer. The...

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House Passes New 401(k) Bill

The United States House of Representatives has passed a bill resulting in the most significant changes in years to 401(k) plans. With the Setting Every Community Up for Retirement Enhancement, or Secure, Act, it is now easier for employers to...

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Not Knowing Plan Documents Leads to Fiduciary Liability

One of the leading causes of fiduciary liability and fiduciary breach is retirement plan fiduciaries not being well versed in plan documents, terms, and conditions. Not following the written terms of a plan document may be a breach of a...

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Fiduciary and Cyber Liability Insurance Help You Plan For Tomorrow

It’s taken catastrophes to make people realize that insurance is not just a form of gambling; it helps people and businesses endure. Fiduciary liability insurance and cyber liability insurance may seem like gambling on a fiduciary breach or cyber attack...

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Small Plan Sponsors More Vulnerable to Data Breach Than Big Companies

You’ve probably heard a lot about data breaches at Equifax and Sony, but did you know that small businesses, including individual plan sponsors, are more vulnerable to cyber attack and data breach than those large companies? Small businesses and plan...

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