Fiduciary Liability

If you are an owner or officer who makes decision about your company’s 401(k) plans or other employee benefit plans, your assets may be at risk. Under the Employee Retirement Income Security Act of 1974, fiduciaries can be held liable for losses to a benefit plan incurred as a result of alleged errors, omissions, or breach of duty.

This level of insurance was developed to provide fiduciaries coverage against lawsuits that are targeted by employees, legal estates, the Department of Labor, and the Pension Benefit Guaranty Corporation. It is important to note that employment liability insurance does not cover all situations of fiduciary responsibility. This specific offering enhances that glaring hole in coverage.

If employees entrust their financial future with your direction, make the best decision now and contact us for all the pertinent information on fiduciary liability. Understanding the full reach of the subject will allow you to successfully move forward with your job duties.