Retirement Plans: Notice Failure?
Among the many requirements for 401(k) plans are the timely dissemination of a variety of standard notices to participants. ERISA experts remind us that adhering to notice requirements is critical: failure leaves participants without…
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A Rising Priority: Benefits!
Together, small businesses are the largest employer in the country—and they are increasingly prioritizing worker well being. For example, according to new research, one in four are responding to the disruption of the pandemic by…
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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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Employers Increasingly Concerned About Employee Finances
A growing number of employers are concerned about the financial well-being of employees—and employees want more financial guidance. Retirement plan sponsors have a bigger role to play! Overall Financial Well-Being Programs Bank of America’s…
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Help for Small Businesses: Employee Retirement Benefit
It’s going to be a busy fall for employee benefit administrators and retirement plan sponsors across the country, as the federal government rolls out guidance and standards related to the SECURE Act. Small business owners…
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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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