Fiduciary Liability
If your firm sponsors a 401(k), a health plan or an ESOP, the people who manage it have legal duties to the participants.
Fiduciary liability is designed for claims that those duties were not met, such as high fees, poor investment choices or late deposits.
Where exposure tends to arise
Where Fiduciary Claims Come From
Retirement plan fees
Claims that plan fees were too high or investment options were poorly chosen.
Administrative mistakes
Late contributions, enrollment errors and missed notices.
Employee owned firms
ESOPs add valuation and transaction questions that can lead to claims.
Worth reviewing
Not the Same as an ERISA Bond
Federal law requires a fidelity bond for most retirement plans.
That bond addresses theft from the plan. It does not address claims against the people running it.
We check both, and whether they fit together.
Firms we work with
Architects Landscape Architects Interior Designers Civil Engineers Structural Engineers MEP Engineers Geotechnical Engineers 3D Laser Scanning & LiDAR BIM Modeling & Coordination CAD & Drafting Services Land Surveyors Environmental Consultants Special Inspection & Construction Monitoring Owner’s Representatives Construction Managers Forensic Engineers Expert Witnesses & Litigation Support Mining & Heavy Machinery Engineers Energy & LNG Engineers
Talk to a specialist
Tell Us About Your Firm. We’ll Tell You What We See.
Starting out or renewing, with a policy in hand or not. If something is worth discussing, we’ll call. If not, we’ll say so.