Legal

Under ERISA regulations, the fiduciary has 4 areas of duty: loyalty to the participants, prudence in running the plan, and the ongoing duties to diversify and minimize risk and to follow plan documents, unless they violate ERISA rules.

Litigation is on the rise around employer retirement plans, so an understanding of the most common mistakes made by others is a great way to avoid losses for both your employees and your organization.

Last week, an earlier lawsuit was amended to include another former employee and more details over claims that Twitter (now known as X) denied severance benefits promised to employees, in violation of ERISA.

Acting commissioner Kilolo Kijakazi testified at a congressional hearing on Wednesday at which House members faulted SSA for issuing billions of dollars of overpayments, then demanding that beneficiaries pay the funds back.

After 6 years of litigation, GE will settle the lawsuit - the largest ERISA case alleging retirement plan mismanagement - that claimed underperforming funds were the only actively managed options available to participants.

Small business owners now have a range of options depending on the number of employees, but it's essential to start early, leverage tax-advantaged retirement accounts, diversify investments and plan for an exit strategy.