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Reducing Exposure to 401(k) Plan Class Action Litigation
Pillsbury Winthrop Shaw Pittman LLP 
Sept. 5, 2019 "If the board of directors adopts a 401(k) plan, the plan document does not name the company plan sponsor as a named fiduciary but instead names, for example, a benefits committee (comprising subject matter expert employees), and the board exercises no discretion regarding the membership of the committee, the administration of the plan or its investments, then the board has best positioned itself to argue that it is not a plan fiduciary subject to a claim of a breach of fiduciary duties. Not only that, but it has prudently set into motion the best governance practices for the plan." MORE >> |
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