Tag: Fiduciary Liability

What You Don’t Know Can Hurt You: Many Business Owners Offering 401(k) Plans Fail to Meet Fiduciary Duties

Business owners and financial advisors have become increasingly wary of the responsibilities they take on when offering 401(k) and 403(b) retirement plans. That’s thanks to the Department of Labor shining a light on what “fiduciary duties” means and the liability those duties create. It’s understandable. These changes caused giants in the industry — among them […]

Your Payroll Provider and 401(k) Provider Should NOT Be The Same!

Convenience shouldn’t be the reason why a 401(k) plan is administered by your payroll provider. Some payroll companies have created 401(k) departments as a way to increase revenue. However, it’s never a good idea for the plan sponsor to combine these services. Why? Hidden costs, lack of flexibility, and compliance. There are some great payroll […]

Staying Out of Court: A Plan Sponsor’s Guide to Protecting Yourself from Fiduciary Lawsuits

By now, most business owners understand that offering a company retirement plan creates some liability, but are you really clear on exactly what you’re responsible for? The defendants involved in the fiduciary lawsuits of Tibble v. Edison International and Sacerdote v. New York University found out the hard way. A close look at the details […]