With a wave of class action lawsuits sweeping the retirement plan industry, many plan sponsors and fiduciaries are looking at solutions that can help protect themselves and their companies from costly liability. Protection for plan sponsors and fiduciaries generally comes either from ERISA fidelity bonding or fiduciary liability insurance. Both…
Help Participants Live Happily Ever After—Follow Your IPS. What good is an investment policy statement (IPS) if the plan sponsor doesn’t follow it? That question is at the center of a class action lawsuit filed against the fiduciaries of The Walt Disney Company’s defined benefit and deferred compensation plans for employees,…
ERISA code can be a dry read, but it is essential for plan sponsors to understand what the code says and how to stay compliant with the law. Our ERISA whitepaper breaks down relevant sections of the code for plan sponsors to show how the law applies to their fiduciary…
The marketing of “fiduciary warranties” has increased in recent years, in response to a wave of lawsuits against retirement plan sponsors charging breach of fiduciary duty. But the fine print found in many of these “warranty” agreements does not offer as much protection as many plan fiduciaries may believe. Plan…
Last year was a busy one for class action lawsuits and settlements against plan fiduciaries and it looks like 2016 is shaping up to be more of the same. Three new and notable class action lawsuits against retirement plan sponsors were filed within the past couple of months. The complaints…