Strategy Sponsor and Strategy Administrator Escape 401(k) System Cybertheft Go well with, But Recordkeeper Continues to be | Faegre Drinker Biddle & Reath LLP

Enika Vania

An Illinois district court issued a split decision in a circumstance involving the cybertheft of retirement prepare assets, making it possible for the approach administrator and approach sponsor to be dismissed, but requiring the recordkeeper to protect allegations that it breached its fiduciary responsibilities underneath the Worker Retirement Money Security […]

7th Circuit Court Issues Final decision on Cybertheft of Retirement Strategies

Enika Vania

Wednesday, October 21, 2020 An Illinois district court issued a break up selection in a scenario involving the cybertheft of retirement prepare assets, making it possible for the approach administrator and prepare sponsor to be dismissed, but requiring the recordkeeper to defend allegations that it breached its fiduciary obligations underneath […]