As a result of the significant rise in revenue sharing litigation it behooves plan fiduciaries to confirm and document the prudence and appropriateness of any revenue sharing arrangement.
Just how important is a 401(k) match to your employees? It appears to be top of mind, according to Principal’s 2021 Retirement Security Survey. The study’s results show that the match matters most. Learn more.
The question before the court in Hughes v. Northwestern University was the plausibility of a breach of fiduciary duty claim stated by current and former participants in two university retirement plans. SCOTUS ruled that the petitioners in the case, originally dismissed by a district court and upheld by the U.S. Court of Appeals for the Seventh Circuit, did in fact plausibly state their claim. Essentially, the court asserted that the provision of sufficient investment choices to participants does not automatically exculpate fiduciaries from imprudent actions.
This article highlights a case whereby the plaintiffs have asserted claims for breach of the fiduciary duties of prudence and failure to monitor fiduciaries. The lawsuit also targets members of the board of directors, as well as other officers of the firm who serve on the retirement plan’s fiduciary investment committee. Learn about the simple way of to offset such liability.
This article speaks of IRS/DOL Audits and provides a laundry list of items for potential review during an audit. Quite a long list – How would your plan fare in being able to check off these items? Learn more.
This article discusses a national accounting and consulting firm who was sued for excess fees. The bottom line: It behooves the prudent fiduciary to explore every avenue to protect themselves whilst acting in the best interests of their participants.
How do you help your employees resist the “urge to splurge” and prioritize saving for retirement instead? It certainly seems like a tall order, given that it runs counter to tenets of fundamental human psychology. But what if the answer could be as simple as a little well-timed gratitude? Find out more.