Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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AimPoint Pension
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Bates & Company, Inc.
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Regional Vice President of Sales The Retirement Plan Company
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Compass
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Reducing Your Personal Liability in 401(k) Plan Administration
Masuda Funai Oct. 28, 2020 "If you are a plan fiduciary, [here are] personal liability risk reduction strategies: ... [1] Establish a plan committee and charter to allocate authority and responsibilities.... [2] Ask the company to agree to indemnify all fiduciaries for a breach of fiduciary duties.... [3] Consider purchasing insurance to cover liability or losses under ERISA.... [4] Use the DOL's Voluntary Fiduciary Correction Program to correct errors, if applicable.... [5] Ensure appropriate employees understand ERISA's fiduciary standards and the plan." |
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