insurance

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 →
Life Insurance: Whole, Term, and Universal
Team SummitEmployee Financial Resource Center, Financial Planning, Retirement PlanningComments are off for this post
Buying life insurance is a way for an individual to protect their dependents from unpaid liabilities and uncovered expenses in the event of their own death. The benefits of a life insurance policy can be unclear and may lead to challenges when trying to determine which policy is the best for different situations. In this  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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