Pension Professionals: Find New Solutions, but Don’t Forget Fiduciary Duties
There are few virtues more valued in American business than innovation and new ways of thinking. Pension professionals have their own opportunity to unleash new ways of thinking when creating arrangements and plan features. But…
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The U.S. has Lost $1.6 Trillion Due to Data Breaches Since 2008
Since 2008, the United States has lost an overall amount of more than $1.6 trillion due to data breaches alone. Even these figures may be on the low end of the real number lost, however, as…
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Fiduciary Liability of Administrative Staff
You may not think communications with plan administrative staff could cause a fiduciary breach, but you would be wrong. Plan administrative staff members are functionally plan fiduciaries when they communicate with plan participants and their…
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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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