Retirement Plans: Power of Attorney?
Among the many questions that retirement plan sponsors and their service providers confront is what to do when given a power of attorney (POA) for a plan participant. Indeed, designating a POA is an…
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What Did You Say?
Plan sponsors across the country are leaning in to employee interest in better understanding their retirement finances and plan options. Efforts to provide increased financial education and access to advisors are underway. Curbing financial jargon…
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Affordable Fiduciary and Cyber Liability Insurance?
Escalating lawsuits and costly settlements are driving up the price of critical insurance coverages for retirement plan sponsors and other fiduciaries. Nonetheless, ERISA law experts stress the importance of securing both fiduciary and cyber…
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Retirement Plans: Active Enforcement?
ERISA law experts remind us that the Department of Labor has robust investigatory resources dedicated to the pursuit and curtailment of fiduciary breaches and prohibited transaction rules. Amidst major enforcement priorities and projects, compliance basics…
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Income Projections: On Track?
Remember 2019? Way back then, the SECURE Act mandated retirement plans to provide lifetime income projections to help participants understand their savings. What’s expected now? How is the retirement industry gearing up—and how’s it…
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Investment Choices: Up To Participants?
Investment Choices: Up To Participants? No! The fiduciary responsibilities of retirement plan sponsors don’t stop with offering varied investment options and hoping participants get good results. Fiduciaries must exercise prudence with the options offered—and continuously…
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Choices, Fees and Allegations
When used together, these words spell bad news for retirement plan fiduciaries. Indeed, building on the precedents set over the past years, another “excessive fee” lawsuit has been filed, this time by lawyers from…
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Going the Extra Mile: Multilingual Materials
Increasingly, retirement plan sponsors are going beyond above and beyond ERISA’s requirements for the provision of plan communications that a wider diversity of employees can more readily understand. Industry experts share the latest on…
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Data Breach Notification Laws?
There are state, federal, and even international laws governing the notification processes that must be followed following a cyber incident that compromises data. Businesses of all sizes are obligated to adhere to the laws….
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