Acting as a fiduciary is a huge responsibility. It means you promise to act on behalf and in the best interest of another person or multiple people. The more people who have placed their trust in you, ...
The first thing advisers should do is determine their fiduciary role with the plan, says Ary Rosenbaum, principal of the Rosenbaum Law Firm. An attorney who specializes in the Employee Retirement ...
The U.S. Supreme Court’s recent unanimous decision in Cunningham v. Cornell University has altered the litigation landscape for benefit plan fiduciaries and their insurers. Understanding those changes ...
A fiduciary liability policy protects the personal assets of a plan due to allegations of breach of fiduciary duties. Specifically, it protects plan sponsors and trustees from defense cost and ...
“Fiduciary liability insurance: isn’t every plan required to have that?” Actually, fiduciary liability insurance isn’t required, but this question reflects an all too common misunderstanding. Every ...
The extreme pace of new 401(k) lawsuits this year is showing the legally precarious spot most plan fiduciaries occupy, and that position is only becoming more difficult. It is rare for a plan to have ...
Acting as a fiduciary is a huge responsibility. It means you promise to act on behalf and in the best interest of another person or multiple people. The more people who have placed their trust in you, ...
In a world of heightened fiduciary scrutiny, plan sponsors need to pay close attention to the language of fiduciary insurance policies. As defined contribution (DC) plans become the main drivers of ...
Fiduciary liability insurance protects companies from lawsuits if they makes errors or fails to act in employees’ best interests. For example, if beneficiaries of a 401 (k) plan accuse administrators ...
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