Trend Report

What Type of Fiduciary Should Your Retirement Plan Have?

The retirement plan industry has a problem – jargon. While speaking the language is second nature to those who live every day in retirement plan consulting, it’s important that we act as ambassadors and translate the convoluted acronyms and industry slang, so our partners and retirement committee members have the knowledge they need to manage their plan with confidence.

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Register Today for Our Employee Benefits Symposium!

Alex Assaley, AIF®

Alex Assaley, AIF®

Blog Post

 

Register for our Employee Benefits Symposium! Throughout the day, you'll gain access to expert speakers, engaging presentations, and motivating breakout sessions with peers from a variety of industries. We are excited for you to experience what we have planned! Official registration coming soon. Register Now

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Be Careful What You Tell Employees About Their Benefits

This content was originally published  by Theodore P. Stein, Esq.

On March 13, 2018, the U.S. District Court in Greenbelt, Maryland, issued a Memorandum Opinion in one of my cases granting summary judgment to my client, a defendant, and dismissing a claim that my client had breached its fiduciary duty under ERISA, the federal statute governing employee benefit plans.  The case is Damiano v. Institute for In Vitro Sciences, et al.  Although the Court ruled in favor of the defendant, the decision should be a wake-up call to employers about the danger of misrepresenting the benefits under a welfare or pension plan—even if the misrepresentation is accidental.

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