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.
Tag "Michelle Capezza"
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.
Applying these duties to volatile cryptocurrencies requires careful thought and documentation. How, then, is the industry interpreting this “neutral stance” from the DOL?
AI fiduciary traps refer to compliance risks arising from inaccurate, biased, or undocumented AI outputs in 401k plan administration. Do you think the tort bar is salivating over this, waiting for that inevitable misstep?
By proactively addressing these critical 401k plan sponsor questions, sponsors can enhance their plans, protect participants, and shield themselves from unnecessary fiduciary exposure.
Advisors do more than plot portfolios. They calm nerves, making them frontline warriors against volatility panic, turning “what if” into “we’ve got this.”
Ironically, while some see lowering the savings limit as politically palatable because it impacts only a small segment of the population, that same fact reduces the effect of such a policy shift.
The fact Social Security was already collecting this information, albeit not in a database, raises the question of whether this new lost and found database will add any real value.
What’s one way 401k plan sponsors can ensure they establish a due diligence framework that can best reduce their fiduciary liability?
Making matters worse is the changing regulatory environment once the new SECURE Act 2.0 rules become effective. The good news is the dust settles after that.
