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...

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...

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...

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...

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...

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...

Every organization should take cybersecurity seriously, from the mom and pop shop down the street to Amazon. Equifax CEO Mark Begor testified to the United States Senate that the company took cybersecurity seriously prior to the 2017 hack that breached...

New Jersey recently passed a law requiring businesses to notify consumers of online breaches. This, theoretically, would allow consumers to change information to limit attackers’ access to their accounts, such as passwords or usernames. It also would give consumers a...

The three main elements of a fiduciary breach case are: 1) a breach, 2) a loss, and 3) that the loss was caused by the breach. Unfortunately for breaching fiduciaries, they’re often the ones who have to prove that there...