ERISA

Changing Plan Providers: Moving Participant Investments
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Once you’ve made the decision as plan sponsor and fiduciaries to move your organization’s retirement plan to a new recordkeeper, one of the following questions becomes what to do with participant investments. It’s very likely that the plan will have a new investment lineup when it moves to the new provider. As fiduciaries, you are  Read More →
Fiduciary Liabilities: What Are They? How Can They Be Mitigated?
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
“Risk comes from not knowing what you are doing.”-Warren Buffett Being an ERISA fiduciary may entail personal liability. In addition to making the plan whole for any losses resulting from a breach of fiduciary duty, a fiduciary may be required to disgorge any profits obtained in committing the breach, and be subject to “such other  Read More →
Fee Payment Methods in 401(k) Plans: Know Your Options
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
A plan sponsor (i.e. employer) can elect to pay or allocate plan fees in a number of different ways, and it is important to understand all available options, as this is a fiduciary decision. In fact, the DOL observed in Field Assistance Bulletin (FAB) 2003-03 that plan sponsors and fiduciaries have considerable discretion in determining,  Read More →

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