Updated Cybersecurity Guidance
The Department of Labor has issued updated cybersecurity guidance, and confirmed that the protocols are applicable to all plans covered by the Employee Retirement Income Security Act (ERISA). Attorneys are advising fiduciaries to implement…
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Stormy Weather: Zip Up
This year’s hurricane season has already been noteworthy, and weather projections indicate that “above the norm” levels of stormy weather will continue through the fall. Business owners, especially plan sponsors, are wise to take…
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Forfeiture Claims: Copycats?
Claims focused on “failed fiduciary process” related to the use of plan forfeitures continue to bubble up. With the lawsuits winding through federal courts, it’s too early to know if they will trigger the…
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Celebrating ERISA At 50?
When the Employee Retirement Income Security Act makes headlines, it’s usually something for plan sponsors to worry about, such as lawsuits, increased regulatory measures or cybersecurity concerns. But here’s celebratory ERISA news: the 50th…
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Beneficiary Designations: Essential Practices
The fiduciary duties of retirement plan sponsors apply to both the interests of participants and beneficiaries. Accordingly, it is essential for plan sponsors to make sure the processes for designating, reviewing and updating beneficiaries…
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Assessing New Products?
As plan sponsors across the country wander into the swirl of lifetime income options becoming available, ERISA experts remind them to stay focused on the essence of their fiduciary duties–prudence and loyalty–whenever assessing plan…
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Plan Sponsor: What Not To Do
Examples of “don’ts” offer a crystal clear picture of the diligence expected of retirement plan sponsors. At the Department of Labor (DOL), the Employee Benefits Security Administration (EBSA), provides a snapshot of civil violations,…
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Clean Data?
Although retirement plan sponsors typically outsource plan administration, they remain ultimately responsible for the plan’s success, and that means plan data must be accurate and up-to-date. Of course, plan data must also be protected…
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Back To School: Fiduciary Reading List
For retirement plan sponsors, a great way to head into the fall is with a brush up on fulfilling fiduciary obligations. Fortunately, it’s easy and free to pull a reading list together: the Employee Benefits…
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