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Participant Data: Plan Asset, or Fair Game for Recordkeeper Marketing of Non-Plan Products?
Trucker Huss 
Apr. 30, 2021 "So far, one district court in the Seventh Circuit and one district court in the Fifth Circuit have found that participant data is not a plan asset.... While this issue plays out further in the courts ... plan fiduciaries [should] review their own recordkeeping agreements and consider adding cross-selling restrictions if they want to preclude their recordkeepers from using participant data for cross-selling purposes in the future." |
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