What Is the Difference Between a 401(k) Plan Sponsor and a Plan Administrator? Typically, the employer is considered the 401(k) “plan sponsor,” whereas the day-to-day running of the plan may be handled by a third-party “plan administrator.” Understanding the different responsibilities between the plan sponsor and plan administrator is essential to maintain compliance with all … Read more
On February 9, 2022, the SEC voted 3-1 to propose rules that would significantly expand the risk management and reporting requirements concerning cybersecurity and related matters for registered investment companies (RICs), business development companies (BDCs), and investment advisers registered or required to be registered with the SEC (RIAs) The proposed rules would require advisers and … Read more
In a lawsuit, he alleges the retirement plan service provider did not take steps to protect the personal information of participants in plans it serves. As the level of awareness of Cybersecurity protection of confidential data has increased, however, so has the size and complexity of the cybersecurity problem from the perspective of plan fiduciary. … Read more
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