The lawsuit was brought by a former Twitter employee who oversaw the company's employee benefits program on behalf of thousands of employees who were laid off after Elon Musk acquired the company in 2019.

Most plan sponsors are monitoring regulatory changes, properly managing plan operations and have appropriate fund and investments offerings, but even with diligent effort, mistakes will happen.

The vital thing to do when a mistake happens is to first correct it and alert relevant employees and officials, and then to learn from it.

The article argues that, given the federal government's endorsement of RBP and its proven efficacy in reducing employer costs and expanding participant options, it is now virtually impossible for a plan fiduciary to lawfully discharge their duties in accordance with ERISA without at least considering the implementation of RBP.