Did you know that your clients could be held liable for their employees' missed investment opportunities? Through a number of recent class-action lawsuits over the mismanagement of pension plans, corporate fiduciary responsibility has been brought to center stage.The fallout from these cases has put employers across the nation at risk by exposing their fiduciary responsibility.
Under the Employee Retirement Income Security Act, a fiduciary can be held personally responsible for a shortage in the benefit plan's assets, or even an "opportunity lost" resulting from a breach of fiduciary duty, such as offering imprudent investment choices.
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