Fiduciary Advisor Blog
Tuesday, 10 April 2012 15:03
An RSPS may be the most important document in your Fiduciary Arsenal. If you are a Fiduciary to an ERISA qualified retirement plan and you don't have a documented process in how fees are allocated to the plan participants and the employer-sponsor, you could find yourself at the wrong end of an excessive fee dispute.
Monday, 09 April 2012 12:36
As a Plan Fiduciary, you cannot rely on a non-fiduciary service provider with a conflict in interest to accept responsibility for their recommendations.
In a recent court decision (Tussey vs. ABB, Inc., U.S. District Court, Western District of Missouri Central Division), a Company sponsoring a retirement plan (ABB, Inc.) along with the head of the Benefits committee, named individually, and the entire committee, were ordered to pay a judgment of $35.2 million.
Friday, 27 January 2012 15:06
As a business owner or shareholder, does this question ever run through your head when you are forced to comply with the myriad of regulations related to providing employee benefits to your employees. No successful business owner will deny the importance of loyal, trustworthy and competent employees as a significant component of a company’s success. Although every employee is important to the business (or they wouldn’t still be employed), there is no argument that some are deemed more important than others. Importance to the business is not always measured by the salary that is required to retain and reward these employees.
Published in Fiduciary Advisor Blog