Surety Matters

Our blog covering the latest in bonds and insurance
ERISA 08.23.2019

Excessive Fee Suits Against Plan Fiduciaries Becoming More Popular

An increasing number of 401(k) sponsors and providers of retirement products are seeing lawsuits against them alleging, among other things, excessive plan fees in violation of ERISA and therefore, a breach of the plan fiduciary’s fiduciary duty….
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Excessive Fee Suits Against Plan Fiduciaries Becoming More Popular
ERISA 08.21.2019

The Fiduciary Duty to Only Pay Reasonable Fees from ERISA Plan Assets

Plan sponsors may not realize this, but one of their numerous fiduciary duties is that they have a fiduciary duty to only pay reasonable and necessary fees from plan assets. The reason for this is that while…
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The Fiduciary Duty to Only Pay Reasonable Fees from ERISA Plan Assets
Cyber 08.21.2019

Texas Retirement Plan Uses Third Party Experts to Detect Data Breach

The Employees Retirement System of Texas (ERS) recently fell victim to a cyber attack resulting in a data breach and the exposure of 1.25 million retirement plan records. A flaw in its online portal was…
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Texas Retirement Plan Uses Third Party Experts to Detect Data Breach
Cyber 08.21.2019

60% of Hacked Small to Medium Businesses Fail Within 6 Months

Small and medium businesses often (incorrectly) think they’re too small for cyber attackers to attempt to hack. Only 31% of small businesses take active measures to protect against cyber attacks and breaches. But more than…
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60% of Hacked Small to Medium Businesses Fail Within 6 Months
ERISA 08.13.2019

Small Retirement Plans Seeing Increasing Fiduciary Breach Lawsuits

An excessive fee suit against a retirement plan holding $9 million in assets for 114 participants is being seen as the dawning of a new era in retirement plan fiduciary breach lawsuits. The suit, Damberg…
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Small Retirement Plans Seeing Increasing Fiduciary Breach Lawsuits
ERISA 08.12.2019

Plan Fiduciaries Must Make “Prudent” Investments to Avoid Liability

Employee benefit plan fiduciaries have an obligation to make prudent investments to avoid a breach of fiduciary duty. Fiduciaries are personally liable for those damages the imprudent investments caused to plan participants. This is one of the…
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Plan Fiduciaries Must Make “Prudent” Investments to Avoid Liability
ERISA 08.12.2019

Plan Fiduciaries Must Evaluate Plan Fees

Plan fiduciaries have a lot of obstacles to avoid during plan administration to avoid fiduciary breaches, but the most common breach of fiduciary duty is for a plan that has unreasonable fees and expenses. This…
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Plan Fiduciaries Must Evaluate Plan Fees
Cyber 08.12.2019

Phishing Attacks Trick Your Employees Into Giving Hackers Access

How could there be a danger in clicking a link in an email that appears to be from your coworker down the hall? Clicking that link can provide a hacker access to your company’s system,…
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Phishing Attacks Trick Your Employees Into Giving Hackers Access
Cyber 07.26.2019

Many Small Businesses Can’t Afford Data Breaches

Equifax recently came to a settlement agreement regarding its 2017 data breach that affected nearly 150 million Americans. Those who had their personal information exposed in the breach are eligible to file a claim, with…
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Many Small Businesses Can’t Afford Data Breaches