Webinar: Does your 401(k) plan subject you to additional liability?

Last year, the U.S. Supreme Court handed down a decision in Tibble v. Edison where employees in a company sued their employer for selecting retirement plans whose fees were too expensive. The Court ruled in favor of the employees, saying, among other things, that "a trustee has a continuing duty — separate and apart from the duty to exercise prudence in selecting investments at the outset — to monitor, and remove, imprudent trust investments." This case opened up a whole set of legal risk and liability issues that you, as employers, may face unless you’re able to reduce your fiduciary liability for your 401k plan.

This topic will be covered in a webinar from CEMA associate member, Alpha Partners, on Feb. 23 from 8 – 9 AM, and again on Feb 25 from 11 AM – 12 PM, entitled “8 Steps to Reduce Your Fiduciary Liability.” You will learn about drafting plan policies and charters designed to reduce your liability; about fiduciary liability insurance; about indemnifying fiduciaries; about hiring 3(21), 3(38) and 3(16) fiduciary consultants; about practicing procedural prudence; about required distributions; about conducting audits; and education and documentation.

Alpha Partners are specialists who can offer retirement plan consulting services as well as ongoing fiduciary-focused webinars, seminars and important educational content to CEMA members. The Alpha team has the capacity to act as a 3(21) fiduciary (learn more about this at the webinar) under LPL RPCP Program, and offers client deliverables centered around current best practices for plan fiduciaries and their responsibilities under ERISA.

To sign up for this free, complimentary webinar, please contact Paul Salamon at paul.salamon@alpha401k.com or call 203-989-3880, indicating your preference for either Feb. 23 or Feb. 25.