Company representatives involved in managing pensions, savings, profit-sharing, employee benefits and welfare plans are liable if they breach their fiduciary duties. If this responsibility belongs to you, it is imperative that you understand your responsibilities to avoid potential liability. In fact, fiduciaries that do not follow the basic standards of conduct may be personally liable to restore any losses to the plan, or to restore any profits made through an improper use of the plan’s assets resulting from their actions. Consider Fiduciary Liability Insurance to protect you and your organization against losses associated with fiduciary error.
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