New Year’s Resolutions That Plan Sponsors Should Make and Keep

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A New Year's resolution is a promise that a person makes to achieve one or more personal goals, projects, or the reforming of a habit. The big deal about a New Year's Resolution is that it is made in anticipation of the New Year and new beginnings. Aside from losing 42 pounds on Slim-Fast in my senior year of high school, I have never kept a New Year’s resolution and the only harm is to myself for not keeping a promise. Plan sponsors who intend to make New Year’s resolutions aren’t so lucky; their broken promises can get themselves in a whole lot of hot water and financial liability. So this article is about what New Year’s resolutions plan sponsors should make and keep in helping them minimize their fiduciary liability.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ary Rosenbaum, The Rosenbaum Law Firm P.C. | Attorney Advertising

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