New Court Ruling INCREASES the Risk of Financial Liability for Employers Who Fail to Comply
On May 21, 2015, the US Supreme Court ruled that participants in employer-sponsored qualified retirements plans including 401(k) plans are afforded numerous protections.
ERISA requires that employers:
- provide participants with plan information, important facts, plan features, and funding.
This establishes fiduciary responsibilities with those who manage and control the plan assets.
Request a Complementary 401(k) Plan Review to ensure your plan is compliant.
For more information about meeting your Fiduciary Responsibilities through ERISA, click here.