House Approves Bill to Help Pay Retirement Benefits
On April 23, the House of Representatives approved a $484 billion COVID-19 stimulus bill which incorporates funding that can be utilized to help pay retirement benefits. The novel legislation, titled the Paycheck Protection Program and…
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Record Keeper, Plan Sponsor Sued for Fiduciary Breach in 401(k) Account Hack
A suit has been filed, alleging “actions in allowing an unknown individual to prey on and steal hundreds of thousands of dollars form the retirement savings of the Plaintiff.” The case was filed on behalf…
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Putnam Settles for $12.5 Million in ERISA Case
In recent ERISA litigation headlines, there was a monumental divide between the nation’s courts in determining who exactly bears the burden of proof in a lawsuit. The original case, Brotherston v. Putnam Investments, LLC was…
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California and New Jersey Extend COVID-19-Related Deadlines
Citing the magnitude of the current pandemic, New Jersey has prolonged the deadline for contemplating its suggested fiduciary rule. The Garden State’s novel uniform fiduciary standard was declared on April 15, 2019; nonetheless, under the…
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Plan Sponsor Cybersecurity Responsibilities
If you are a plan sponsor, you set up retirement plans for your employees. Retirement benefit plan administrators harbor personal information of employees, like social security numbers and email addresses, in myriad electronic records. Plan…
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What Types of Insurances Cover COVID-19 Losses?
In light of the recent coronavirus outbreak, more and more people are dealing with insurance-related problems handling the outbreak of the disease. What types of losses are you covered under insurance that could possibly stem…
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The Basics of Fiduciary Liability Insurance
When it comes to the management of retirement plans, a fiduciary’s liability is often misunderstood. Fiduciary liability stems from the strict obligations set in place by the Employee Retirement Income Security Act of 1974, or…
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43% of Data Breaches Victims Are Small Businesses
The 2019 Verizon Data Breach Investigation Report, which tracked 41,686 security incidents from 86 countries and 73 different data sources, including 2013 total data breaches, has been released and states that small businesses were the…
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Cyber Attackers Won’t Stop At One Data Breach
If you’ve already been the victim of a data breach, you may be wondering if you should still obtain cyber liability insurance. Is there a chance cyber-terrorists could attack again? The answer is a strong…
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