The Cost of Cybercrime
$6 trillion dollars! That’s how much money experts estimate cybercrime will cost the global economy in 2021! Get prepared. Secure practical solutions and support now. A Ubiquitous Problem The more we all work, relate and…
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Final Rule on Financial Factors in Selecting Plan Investments
Plan sponsors: take note! The U.S. Department of Labor has established new regulatory guidelines related to your fiduciary duties when selecting investments for 401(k) and other defined-contribution plans. Select Investments Based On Financial Returns and…
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Year End Communications About Retirement Savings
The IRS has announced that the elective deferral limit for employee contributions to 401(k) plans for 2021 will remain at $19,500. However, it’s still an important time of year for plan sponsors to communicate with…
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ERISA Pre-dates Modern Computing But Cybersecurity Counts!
As retirement plan sponsors juggle compliance with ERISA—and the evolving landscape of cybersecurity threats—legal experts advise increased diligence. Stay Current The first known use of the word cybersecurity was in 1989—nearly fifteen years after…
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401(k) Class Action Suits on The Rise: Protect Yourself and Your Plan
Benefits lawyers are currently experiencing a flood of lawsuits related to 401(k) plans. Plan sponsors need to closely follow ERISA regulations and ensure protection for retirement plans—and themselves. Challenging 401(k) Plan Fees An analysis by…
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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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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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