fiduciary duty

Reducing Fiduciary Liability: Key Tips to Follow
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
In 2020, nearly 100 lawsuits alleging breach of fiduciary duty were filed. And with the number of 401(k) lawsuits on the rise targeting plans both large and small, sponsors are well-advised to consider taking additional measures to mitigate fiduciary risk where practicable. Here are a few to consider: Create and follow an IPS While not  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 →
Back to School for Fiduciaries
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Can you hear the bells ringing? (Or Zoom call dinging?) It’s that time of year to review your to-do list of fiduciary responsibilities. Fiduciary education is critical. Ask yourself the following questions to make sure you are on top of your responsibilities and liabilities. If not, it’s time to start studying! Are you practicing procedural  Read More →

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