You are the ESOP’s trustee or administrative committee member and an employee. What exactly are the risks you take as an internal plan fiduciary? What can you do to prepare for a DOL investigation and how do you handle one when it comes? What kinds of claims can participants and beneficiaries make in a lawsuit? Can you be insured against these risks? In this in-depth article, we answer these questions and more so you have a complete picture of what to expect when you agree to take on the responsibility of being a fiduciary.
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EDITOR’S NOTE: We did the best we could to make sure the information and advice in this article were current as of the date of posting to the web site. Because the laws and the government’s rules are changing all the time, you should check with us if you are unsure whether this material is still current. Of course, none of our articles are meant to serve as specific legal advice to you. If you would like that, please call us at (916) 357-5660.