Jottings By An Employer's Lawyer

Wednesday, October 27, 2004

ERISA Fiduciary = Honor, Prestige? Nope, Defendant

At least more and more it seems according to yesterday's post by Janell Grenier at Benefits Blog. The bullet points she pulls from an article cleverly called "Lawyering Up" at
". . . more 401(k) litigation now than ever"
"[T]the trend has snowballed. . . "
"[T]he current spate of salacious scandals at major corporations has fanned the flames . . . "
"The law is in a state of flux" and "evolving."
The clear word of advice -- if you hold that lofty title of fiduciary for an ERISA plan(s), you make sure you know that the plan documents are up to date and up to snuff. It won't keep you from getting sued, but doing just that will go a long way in keep you from getting successfully sued.

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