You Shouldn’t Hire Your Friends Or Family As Your Retirement Plan’s Provider

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Friends and family are a great campaign for discounts at a department store or through a phone bill. However thanks to something called fiduciary duty and prohibited transactions, it’s never a good idea for retirement plans to hire the friends and family of some of the plan’s decision makers as a retirement plan provider. This article is about why a plan sponsor shouldn’t hire friends and family as the retirement plan provider of their retirement plan.

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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.

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Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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