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COVID-19 and Retirement Plan Fiduciary Obligations
Vandeventer Black LLP
Oct. 29, 2020 "Given the likelihood of continued market volatility, review the investment options to consider whether they remain prudent in the current financial environment.... In an environment of continuing market volatility, it may be prudent to increase the frequency of plan investment reviews and request more frequent input from plan investment advisors ... Continue to document all fiduciary decisions to continue or change the investment line-up and rationale for the decisions made.... [H]ave ongoing communication with plan participants.... [T]he risk of data breach and fraud activity is substantially increased." |
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