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Many 401(k) plans rely on an administrative routine that entails periodic meetings with plan advisors; review of advisor reports on fees, participant usage and investment performance; and preparation of minutes of any decisions made at advisor meetings. But this procedure, by itself, may be insufficient to satisfy applicable ERISA fiduciary standards. Active input is required […]

Cyber-attacks on Section 401(k) plans and their participant accounts are not only increasing in number but, with the use of AI, they are increasing in sophistication. Plan fiduciaries, including employers which sponsor 401(k) plans, need to take steps to protect plan assts from these risks by implementing appropriate cybersecurity measures. All employees (not just HR […]