Changes Impacting ERISA Are Coming
Across the country, retirement plan sponsors are in “wait and see mode” as the U.S. Department of Labor (DOL) works to rapidly rolling out proposed new regulations. Many of the efforts are intended to respond…
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Hiring Outside Advisors Does Not Remove Plan Sponsor Fiduciary Liability
Plan sponsors have a lot of responsibility as fiduciaries when managing an employee benefit plan. They have to make sure that the plan assets are invested properly, employees are given adequate information about benefits, employees…
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IHeart Communications Slammed with ERISA Class Lawsuit
iHeart Communications Inc. is now battling a proposed class action in the Northern District of Texas captained by plan participants and beneficiaries of its 401(k) plan. The plaintiffs of the case claim plan sponsors did…
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What are Common Cyber-Threats?
A cyber-attack is a digital assault by cyber-criminals using a technical device to sneak through private records on a single computer, multiple computers, or computer networks. Cyber-attacks can swiftly disable computers, swipe essential data, or hijack a…
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Report: 4,000 Cyber-Attacks a Day Since COVID-19 Pandemic
Top cybersecurity establishments and law enforcement agencies are reporting a staggering 800% escalation in cyber-attacks since the birth of the COVID-19 cessation. Per MonsterCloud, cybercriminals are ramping up their hacking methods as more individuals are working remotely…
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Stressed? How COVID-19 is Causing More Stress than Ever for Risk Managers
Stressed? Although many businesses are succeeding with work from home strategies to survive the COVID-19 crisis, their risk managers are experiencing more stress than before. Based on a study in July 2020, The Global Association…
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Mercy Health 401(k) Plan Participants Sue for ERISA Violations
Former and current plan participants in 401(k) plans sponsored by Mercy Health Corporation are now suing the operators of hospitals/clinics and their fiduciaries for ERISA breaches under the Employee Retirement Income Security Act of 1974. The lawsuit…
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Omnicom Slammed with Fiduciary Breach
A former worker of Omnicom Group, Inc. is suing the company and plan fiduciaries, accusing them of ERISA violations while managing the firm’s employee benefit plan. The complaint, filed on July 31 in a U.S. District…
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What is ERISA’s Bonding Requirement for Our Employee Benefit Plan?
Suppose you’re a plan fiduciary that handles a 401(k) for your company. It can be tough to keep up with the prerequisites for the Employee Retirement Income Security Act of 1974, or ERISA. How do…
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