VA Benefit Fund Protection

According to 38 CFR § 13.230, within 60 days of the appointment as a Veterans Affairs fiduciary, the fiduciary must purchase a surety bond conditioned upon faithfully performing the fiduciary’s duties according to Section 13.140 if the total VA benefit...

Article

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...

Article

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...

Article

Invest in Your Retirement Plan to Gain Financial Success

Even with the United States economy booming and consistently expanding, more than two thirds of earners would be unable to cover an unexpected $1,000 expense. According to Barron’s, Americans simply seem to be having a hard time saving money. So...

Article

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...

Article

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...

Article

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...

Article

Equifax Took Cybersecurity Seriously, Was Still Hacked

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...

Article

New Jersey Expands Data Breach Laws

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...

Article

The Fiduciary Duty of Protecting Against Cyber Attacks

Under ERISA, fiduciaries are subject to the prudent expert standard of care, in which they have to act with diligence, care, and skill an expert under the circumstances in their field would. They also owe a duty of loyalty to...

Article