ERISA

Q1 Fiduciary Hot Topics
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
As we move into the new year, we are sure to see many new developments in the retirement plan landscape. Read on for a snapshot of current and significant litigation and regulatory updates. New Guidance from the Department of Labor Eases Restrictions for Compensating Investment Professionals Who Advise Plan Participants and IRA Holders A Prohibited  Read More →
What Does It Mean To Be a Fiduciary? [Video]
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
As a plan fiduciary, you are tasked with the critical duty of operating your organization’s retirement plan in the highest standard of care. Fiduciaries must act in good faith and with the best interest of plan participants in mind. But, who exactly classifies as a fiduciary, and for what functions are fiduciaries responsible? Tune into  Read More →
Former Employees with Plan Assets are Still Plan Participants
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Plan Sponsors should understand that terminated employees who have left their account balance in your plan, are still considered participants under ERISA. As such, they have the same rights as current employees. They cannot contribute to their account under the plan, but otherwise, they have the same ERISA protected rights as plan participants. One protected  Read More →

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