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Displaying 10 results for: fiduciary liability
ERISA 08.17.2020

Omnicom Slammed with Fiduciary Breach

A former worker of Omnicom Group, Inc. is suing the company and plan fiduciaries, accusing them of ERISA violations while managing the firm’s employee benefit plan. The complaint, filed on July 31 in a U.S. District…
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Omnicom Slammed with Fiduciary Breach
ERISA 08.10.2020

What is a Fiduciary Duty?

A fiduciary is an organization or individual that holds the critical power and responsibility of acting on behalf of others. A fiduciary pledges to carry out their daily duties honestly and through good faith. A fiduciary…
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What is a Fiduciary Duty?
ERISA 07.14.2020

House Passes PPP Deadline Extension

On July 1st, the House of Representatives gave their stamp of approval to the Senate-backed legislation to prolong the deadline for small businesses impacted by the pandemic to apply for loans under the Paycheck Protection…
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House Passes PPP Deadline Extension
ERISA 05.22.2020

Eleventh Circuit Releases Long-Awaited Decision on ERISA Sanctions

The Eleventh Circuit just confirmed their outlook on the Employee Retirement Income Security Act of 1974, or ERISA. The new decision in Williamson v. Travelport, LP 953 F. 3d 1278 (11th Cir. 2020), illuminated the latitude…
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Eleventh Circuit Releases Long-Awaited Decision on ERISA Sanctions
ERISA 05.20.2020

ARA Endorses Interim Amendment Process Improvements for Pre-Approved Plans

In a May 11th letter to the Director of the IRS Office of Employee Plans, the American Retirement Association suggested enhancements in the interim amendment process for pre-approved plan documents. The ARA indicates that the…
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ARA Endorses Interim Amendment Process Improvements for Pre-Approved Plans
ERISA 05.18.2020

How Errors & Omissions Coverage Protects Pension Professionals from Costly Mistakes

It can be difficult for pension professionals to juggle servicing multiple employee benefit plans at once. With Errors and Omissions protection, pension professionals safeguards against covered losses from any actual or alleged negligent act, error, or…
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How Errors & Omissions Coverage Protects Pension Professionals from Costly Mistakes
ERISA 04.22.2020

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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Record Keeper, Plan Sponsor Sued for Fiduciary Breach in 401(k) Account Hack
ERISA 04.22.2020

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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Putnam Settles for $12.5 Million in ERISA Case
ERISA 04.22.2020

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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California and New Jersey Extend COVID-19-Related Deadlines