Process Is No Longer Enough
Why Employers Are Facing New 401(k) Legal Risks
Most employers believe their 401(k) plan is protected if they follow a documented fiduciary process. Meetings are held. Investments are reviewed. Decisions are documented. But today, that may no longer be enough. Regulators, courts, and lawsuits are increasingly focused on a deeper question: Were the decisions themselves reasonable, well-informed, and in employees' best interests? That shift is changing the legal and fiduciary risks facing 401(k) plan sponsors.
PHILLIPS & COMPANY WEALTH STRATEGIES | LIQUIDITY EVENTS
The Liquidity Event Playbook
A liquidity event can be the most consequential financial moment in a business owner's life. Most of the important decisions are made before the deal closes, and this paper explains what to get right before, during, and after the transaction so you can protect what you have built and position the outcome for the long term.