If you sponsor a 401(k) plan, you are certainly a fiduciary — whether you know it or not. That single fact carries significant legal weight. ERISA imposes strict personal liability on anyone who exercises discretion over a plan's management or assets, and the consequences of getting it wrong range from costly correction programs to personal
If you sponsor a 401(k) plan, you are almost certainly a fiduciary — whether you know it or not. That single fact carries significant legal weight. ERISA imposes strict personal liability on anyone who exercises discretion over a plan's management or assets, and the consequences of getting it wrong range from costly correction programs
If you sponsor a 401(k) plan, forfeitures are one of those topics that can quietly create significant legal exposure if they are not handled correctly. They arise routinely — whenever an employee leaves before becoming fully vested — but the rules around what you can do with them, and when, are more prescribed than