Prove It: Defense Is a Must
Litigation related to employee benefits is a growing area of risk for businesses, and, when allegations are made, sound defense is a must. Consider, for example, that in cases brought against retirement plan sponsors,…
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SECURE 2.0: Understanding The Impact
Given the massive breadth of the SECURE 2.0 Act of 2022, analysis has taken some time, but experts are starting to predict that the greatest potential impact on retirement outcomes will be derived by…
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Retirement Plans and Emergency Savings?
Pension Linked Emergency Savings Accounts, aka PLESAs, were made possible by a provision in the SECURE 2.0 Act, which became effective at the start of 2024. To help plan sponsors understand and correctly implement…
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Increased Penalty Fees
Fees, litigation and even criminal indictments are all possibilities for plan fiduciaries when the Department of Labor uncovers ERISA violations. Since civil penalty amounts are adjusted for inflation, the stakes are going up. Read…
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A New Job for Plan Sponsors: Cybersecurity
The more every business (and person in it) uses technology, the bigger the “attack surface” for cybercrime becomes. Last year’s massive MOVEit data breach, compromising data at over 600 businesses, sounded an alarm: whether…
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Reducing PBGC Plan Premiums?
All employer sponsored defined benefit plans pay insurance, with premiums set by Congress to the Pension Benefit Guaranty Corporation, which is an agency of the U.S. Government. Read on for insights about how PBGC…
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Plan Outcomes vs Business As Usual
Set it and forget it is not a best practice for retirement plan sponsors. If it’s been a while since you have given the plan some real attention, chances are strong that much has…
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DOL: See You In Court
The U.S. Department of Labor got off to a running start this year, bringing allegations of fiduciary breaches against two different plan sponsors in federal court in Maryland. It’s worth taking notice that these…
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A Win for Plan Sponsors?
It’s been two decades since a torrent of lawsuits began alleging that fiduciary failures were resulting in high fees for participants, and attorneys say the copycat claims are unlikely to stop anytime soon. There…
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