Legal Experts Implore Plan Sponsors: Protect The Data!
Because retirement plans contain sensitive participant data, plan sponsors must step up efforts to protect it from cybersecurity threats. Legal experts urge more precautions. An Explosion of Data Breach Lawsuits As reported by PlanSponsor:…
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The Importance of Documenting Retirement Plan Investment Decisions
Sponsors of retirement plans increasingly face claims for breach of fiduciary duties. Examples include cases concerning “excessive” 401(k) plan fees. The National Law Review offers some practical advice. The Heavy Weight of Claims According…
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The 401(k) Partial Termination Rule: Have You Invoked It?
Navigating the pandemic continues to force companies to make tough choices, including temporarily or permanently reducing the workforce. Plan sponsors need to assess the ramifications for 401(k) plans. Understanding the IRS Partial Termination Rule…
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Important Reminders About ERISA Bond Compliance
With class action suits related to 401(k) plans rising sharply, now is a critical time to check that you are in compliance with ERISA regulations. Importantly, this includes ensuring an ERISA bond that properly…
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