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 meaures to mitigate fiduciary risk where practicable. Read more.

Department of Labor has issued guidance in the form of “Tips” and “Best Practices” for cybersecurity. Plan Sponsors should be prepared to establish on audit that they have done their due diligence regarding cybersecurity. Read more.

Employees fail to enroll in their retirement plan for a variety of reasons. They may be intimidated if it’s their first time around or they might not fully understand and appreciate the benefits (or the downside of not participating). Some could be concerned about “locking up” their money — and others might worry so much about making the “wrong” investment decision that they procrastinate making any decision at all.  Read more.

Plan Sponsors should understand that terminated

employees who 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. Read more.