Safeguard 401k Plans With Smart Liability Coverage Now
Safeguard your retirement future by exploring how smart liability coverage can protect your 401k plans, ensuring you can browse options that maximize your financial security and peace of mind.
Understanding the Importance of Liability Coverage for 401k Plans
As a plan sponsor, safeguarding your 401k plans with appropriate liability coverage is crucial to protecting both your employees' retirement savings and your business. The Employee Retirement Income Security Act (ERISA) mandates fiduciary responsibility, meaning you are legally required to act in the best interest of the plan participants1. Failure to comply can result in significant financial penalties and personal liability. By implementing smart liability coverage, you can mitigate these risks and ensure that your 401k plan is compliant and secure.