fiduciary

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 →
Content & Frequency of Retirement Plan Committee Meetings
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Most committees wonder, “How frequently should we meet?” Larger or more complex plans usually decide that quarterly meetings are more than sufficient. However, smaller plans and those with minimal activity may be satisfied with only one or two meetings per year, so long as meetings occur with adequate frequency to handle items critical to properly  Read More →
Plan Protection: Fidelity Bond vs. Fiduciary Insurance
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Plan sponsors often ask, “Is an ERISA fidelity bond the same thing as fiduciary liability insurance?” The answer is no, they are not the same. The two insure different people and have different requirements under the terms of ERISA. Purchasing a Fidelity Bond Generally, every fiduciary and anyone who handles funds or other property of  Read More →

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