Fiduciary Liability

protect-employees

Protects individuals charged with the responsibility of creating, managing and administering employee benefit and retirement plans.

Allegations against those fiduciaries include:

  • ¬†providing poor or negligent investment practices
  • failure to offer appropriate investment options
  • charging unreasonable fees
  • inadequate communications and a lack of guidance and educational services
  • or any action or decision deemed not in the best interest of the plan participants
  • Affirmative coverage for Settlor capacity
  • Determination of eligibility or vesting of benefits included in definition of administration.

Civil and Tax penalties sublimits included:

  • Section 522(c) of ERISA
  • Privacy violations of HIPAa
  • Violation of Patient Protection and Affordable Care Act
  • Pension Protection Act of 2006
  • Imposed by the Pension Ombudsman pursuant to the Pension Scheme Act of 1993, the Pensions Act of 1995, and the Pensions Act of 2004
  • Imposed by Irelands Pensions Board or Pensions Ombudsman
  • IRS Section 4975
  • Broad definition of Sponsored Plan including any supplemental executive plan, top hat plan of fringe benefit plan.