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beneco Select: Beneco is on the hook with you!
Until recently, fiduciary liability was largely a theoretical issue. Now, there are lawsuits against companies of all sizes. The liability risk is a reality for all plan fiduciaries.
The DOL made it clear in a recent filing that :
- Plan Sponsors are responsible for the selection and monitoring of investment alternatives.
- Only plans that fully comply with ERISA 404 (c) will have protection against liability for the results of participant investment allocation decisions.
Otherwise, the employer is responsible for the investment returns in participant-directed accounts.
Beneco Select with protection provides you, the fiduciary, the maximum personal asset protection afforded by ERISA law by providing a 404(a) compliant plan.
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