Blame: How About The Plan Sponsor?
A rising market is no longer a sure bet—and that, of course, makes retirement plan participants uneasy. It’s human nature to look for someone to blame for losses. When retirement is not secure, who’s…
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401k Auto Portability Benefits Everyone
Making it easier for employees to bring their retirement savings along when they shift jobs obviously benefits them. Because it reduces the fiduciary risks associated with missing participants and auto cash-outs, facilitating portability also…
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Head’s Up: Amended ERISA Legislation?
As part of its intense focus on retirement security, Congress is considering new two-pronged legislation. If it passes, retirement industry experts anticipate that plan sponsors might face more trips to court stemming from fiduciary…
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Retirement Plans: Notice Failure?
Among the many requirements for 401(k) plans are the timely dissemination of a variety of standard notices to participants. ERISA experts remind us that adhering to notice requirements is critical: failure leaves participants without…
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A Rising Priority: Benefits!
Together, small businesses are the largest employer in the country—and they are increasingly prioritizing worker well being. For example, according to new research, one in four are responding to the disruption of the pandemic by…
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Motion To Dismiss?
Denied! That’s what’s happening in federal courts across the country as retirement plan sponsors struggle with defense against fiduciary breach allegations based on claims of excessive fees. An analysis by Bloomberg Law reveals that for…
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Retirement Plan Documents
Best practices related to company sponsored retirement plan documents include carefully saving all plan documents for the life of the plan, adhering to the terms described in the plan documents, and keeping records that…
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ERISA Penalties: Adjusted for Inflation
Issuing required notices and filing reports—within the mandated timeframes—are among the ongoing duties of plan sponsors. Tardiness and other oversights are damaging, with consequences ranging from lawsuits on behalf of participants, to regulatory audits,…
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Managing The Investment Menu: Layering
As the investment options offered to retirement plan participants continue to undergo intense examination in the face of a swell of lawsuits, experts encourage plan sponsors to consider “layering.” Effective layering on investment menus…
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