Tis The Season: Allegations Are Costly
Allegations of ERISA law violations continue creating disruption and expense for retirement plan fiduciaries, including plan sponsors, across the country. Here’s a sampling of the kinds of claims that are winning cases for retirement…
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There’s Still Time: 2021’s Resolutions?
Heading into 2021, plan sponsors were encouraged to improve retirement outcomes for workers by making retirement account portability easier. With increased disruption and shift in the workforce, facilitating retirement portability can make a huge difference….
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Identity Protection: Using Video
Identity Protection: Using Video To protect retirement accounts from fraudulent withdrawals, at least one service provider, BPAS, is implementing the use of live video to validate participant identity on some transactions. How might stepped up…
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Audit Changes: Written Reports
Head’s up for plan sponsors: Enhanced audit requirements go into effect on December 15. Aimed at reducing the deficiencies of limited-scope audits, the new audit standard requires a written report from plan sponsors, attesting…
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ERISA Violations?
Alleging a variety of ERISA violations, the former participants of a KPMG 401(k) plan are suing the company—and the plan fiduciaries. The complaint has been filed in U.S. District Court in Newark, New Jersey,…
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Decisions, Decisions: Annuities?
Making guaranteed lifetime income options more readily available through 401(k) plans is a list topper for plan providers—and employers— these days. Here’s why—and an example of how Blackrock is proceeding. Guaranteed Lifetime Income?…
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Cybercriminals: Sophisticated Techniques
The Federal Bureau of Investigation reports a 69% spike in cybercrime complaints from 2019-2020. Financial losses totaled over $4 billion. As the techniques deployed by cybercriminals are becoming more sophisticated, retirement plan recordkeepers are…
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Committee Agenda?
Although ERISA does not require retirement plan committees, having the help of experts can contribute to decisions that are made prudently, in the best interests of participants and beneficiaries. Follow this expert guidance to ensure…
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Vigilance Against Cyber Crime
The Plan Sponsor Council of America (PSCA) urges continuous vigilance against cybercrime, Since criminals have retirement plans in their sights, efforts to prevent attacks are critical and must be ongoing. Having an expert response…
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