FreeERISA creates opportunities to demonstrate your services to plan decision-makers. One such service, which we'll call the "2F Opportunity," can help many plan decision-makers sleep ...
By Staff Writer|December 01, 2002 at 07:00 PM
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FreeERISA creates opportunities to demonstrate your services to plan decision-makers. One such service, which we’ll call the “2F Opportunity,” can help many plan decision-makers sleep better at night, because it addresses what may be their deepest fear in today’s climate: litigation-minded lawyers.
Under ERISA, plan fiduciaries can be held personally liable, to the full extent of their personal wealth, if they violate duties of loyalty, prudence, diversification or adherence to documents governing the plan. They enjoy no corporate shield of limited liability, and any manager or vendor who exercises discretion in regard to plan assets can become a fiduciary and lawsuit target. In the wake of a deep bear market, lawsuits brought by plan participants always rise. In this particular bear market, publicity regarding 401(k) losses at Enron, WorldCom and other high profile companies have increased fears of ERISA litigation.
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