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Tag "Department of Labor"
Ongoing forfeiture lawsuits involving major plans are reshaping how courts evaluate fiduciary oversight. Sponsors who rely on routine processes may discover that governance gaps create legal exposure for committees and financial harm for participants.
Fiduciary litigation did not let up in 2025, and 2026 is seeing even more refined theories targeting 401k plans. Plan sponsors must look beyond procedural checklists to avoid the top governance pitfalls that trigger personal liability and erode participant savings.
Plan sponsors are more likely to stay with—and recommend—a provider that demonstrates a clear commitment to safeguarding accounts against evolving threats.
Fiduciaries can no longer afford to treat cybersecurity as an IT department concern alone. In a world where digital breaches can wipe out savings, destroy trust, and invite costly lawsuits, cybersecurity has become inseparable from prudent plan management—and at least an implied fiduciary duty under ERISA.
Documenting the evaluation process helps protect against potential legal challenges. By proactively managing these red flags, fiduciaries can responsibly integrate private equity into 401k plans and reduce ERISA compliance concerns.
Enter 401k AI fee benchmarking—a fiduciary lifeline that cuts through the haze with surgical precision. Why aren’t sponsors demanding this tool from their service providers?
The blend of traditional and modern retirement plan types could evolve further with SECURE 3.0.
The relative quickness of this one-two shot from the District Courts suggests an obvious flaw in the new Rule.
Summary of 2024: Navigating the Evolved Fiduciary Landscape for Retirement Plan Fiduciaries
2024 was a year of adaptation for retirement plan fiduciaries who navigated through regulatory changes, legal landscapes, and participant needs with a renewed focus on governance, liability management, and the holistic management of retirement plans.