Why Retirement Plan Sponsors are Always on the Hook for Liability

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Whoever said the road to hell is paved with good intentions might have been a retirement plan sponsor. While setting up a retirement plan is a good intention, a plan sponsor’s lack of diligence in reviewing what is going on with the plan has the unfortunate consequence of possibly resulting in potential liability for a breach of fiduciary duty. This article is about why plan sponsors are always on the hook for liability and what they need to avoid that hook at all costs.

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Topics:  Duty of Care, ERISA, Fiduciary Duty, Retirement Plan

Published In: Business Organization Updates, Finance & Banking Updates, Labor & Employment Updates, Tax Updates

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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