ERISA Advisory Council Provides Guidance to DOL
The ERISA Advisory Council has provided guidance to the U.S. Department of Labor (DOL) on ERISA fidelity bonds and what the requirements should be in order for a fidelity bond to be DOL compliant. The…
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What is a Retirement Plan Breach of Fiduciary Duty?
Typically, when you think of a breach of fiduciary duty involving a retirement plan, you think of a plan sponsor acting in their own self-interest. They use their position with the plan for their own…
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Plan Fiduciary Breach Complaints Rise as Markets Fall
The biggest thing that plan fiduciaries can do to prevent claims of fiduciary breach is to implement and follow prudent fiduciary policies, procedures, and practices. This would theoretically cover issues involving costs, conflicts, and due…
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ERISA Ambiguities Lead to Confusion Over Fiduciary Duties
More and more cases related to ERISA duties are winding their way through the courts and could have a large impact on plan sponsors and how they will be able to manage their employee benefit…
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Pension Professionals: Simplify the ERISA Bonding Process
Managing employee benefit plans seems to keep getting more and more complicated every year. Fiduciary duties remain opaque and retirement plans and benefits have morphed over time. One of the more confusing processes for the…
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NYC Law Firm Releases 2019 Fiduciary Guide
It is hard for a fiduciary to determine what exactly would be a breach of their fiduciary duty to a retirement plan. That is where New York based law firm Cohen & Buckmann, P.C.’s 2019…
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Microsoft Emails Hacked in Breach
Some of Microsoft’s email services, which include Outlook, MSN, and Hotmail, were breached by hackers with users’ email addresses, folder names, email subject lines, and names of email addresses users communicated with between January and…
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The Fiduciary Duty of Protecting Against Cyber Attacks
Under ERISA, fiduciaries are subject to the prudent expert standard of care, in which they have to act with diligence, care, and skill under the circumstances as professionals their field would. They also owe a…
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Protections Against Cyber Attacks & Data Breaches
Cyber attacks seem to happen every week these days. As those bigger companies beef up their cybersecurity to prevent hacks, cyber attackers are increasingly likely to go after the less protected companies which ends up…
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