Defined contribution plan sponsors have come under a lot of legal and regulatory fire in recent years, as have the warranties and fiduciary insurance policies that were supposed to protect them.
"If a plan sponsor is really concerned about their personal liability — and I meet few who are not — then they need to know the fine print of those warranties and fiduciary insurance policies they are paying good money for," said Jason Roberts, a Manhattan Beach, California-based ERISA attorney.
The good news is that sponsors and advisors are getting more sophisticated about it, and insurers are responding with more comprehensive policies. The problem, however, is far from resolved.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
