PLANSPONSOR - July - August 2023 - 16
CONFERENCE COVERAGE
If a participant's personal email gets
hacked, for example, the breach could
snowball, Massa said, noting that while
the plan sponsor may not be at fault, the
plan could get sued anyway.
" When I think of fiduciary insurance,
it's malpractice insurance, " Aronowitz
said, comparing the fiduciary form to
doctors' and lawyers' malpractice insurance.
Fiduciary insurance protects the
sponsor against claims that it was negliPLANSPONSOR
20
NATIONAL CONFER
gent or committed " malpractice, " he said.
" Essentially, a breach of fiduciary duty
claim is a claim that you messed up. "
While many plan sponsors are
paying high premiums for insurance,
if a sponsor has its fiduciary process in
place and does the proper documentation
and due diligence, it will likely see those
premiums become more reasonable,
Massa added. " Insurance companies are
asking a lot about how you do your business, "
Massa said. " They want to know
if you've been benchmarking, meeting
regularly, [and what] your average fund
expenses [are]. " -Remy Samuels
'A Unique 403(b) Issue'
Backlash against sustainable investments
in retirement plans is causing nonprofit
plan sponsors to remove or reconsider
incorporating environmental, social and
governance investments on their plans'
investment menus, according to 403(b)
retirement plan experts in the " A Unique
Issue for 403(b) Plan Sponsors " panel.
Historically, nonprofits were relaall
from left. top: Joseph Topp, Francis LLC; Brea Dantin, ProCourse Fiduciary Advisors; Monica
De Agostino, MRIGlobal; and Nick Maynard, Commonwealth. middle: Kristi Baker, CSi Advisory
Services; Kellie Desrosiers, Voya Financial; and Rosie Zaklad, Groom Law Group. bottom: Adelia
Soremekun and Malini Kizhatil, The Jackson Laboratory.
tively open to ESG investments, said
Kellie Desrosiers, head of retention
strategy at Voya Financial in West Hartford,
Connecticut. However, given the
intense responses and emotions that the
topic of sustainable investment increasingly
provokes, some retirement plan
managers are having second thoughts,
she said. " I feel like we've gone from one
side of the spectrum to the other. "
Plan sponsors must always account
for the fiduciary liability and litigation
risk; therefore, they are questioning,
16 PLANSPONSOR.COM July - August 2023
http://www.PLANSPONSOR.COM
PLANSPONSOR - July - August 2023
Table of Contents for the Digital Edition of PLANSPONSOR - July - August 2023
INSIGHTS
PARTICIPANT ANALYSIS
RULES & REGULATIONS
UPFRONT
2023 PLANSPONSOR National Conference
2023 Plan Sponsor of the Year Winners
23 Recordkeeping Survey
Will ‘2.0’ Plug the Leaks?
The Way to Go
Use It or Use It
Stable Value in Focus
Auto-Enrollment Is Still Key
PLANSPONSOR - July - August 2023 - Cover1
PLANSPONSOR - July - August 2023 - Cover2
PLANSPONSOR - July - August 2023 - 1
PLANSPONSOR - July - August 2023 - INSIGHTS
PLANSPONSOR - July - August 2023 - 3
PLANSPONSOR - July - August 2023 - 4
PLANSPONSOR - July - August 2023 - 5
PLANSPONSOR - July - August 2023 - RULES & REGULATIONS
PLANSPONSOR - July - August 2023 - 7
PLANSPONSOR - July - August 2023 - UPFRONT
PLANSPONSOR - July - August 2023 - 9
PLANSPONSOR - July - August 2023 - 10
PLANSPONSOR - July - August 2023 - 11
PLANSPONSOR - July - August 2023 - 12
PLANSPONSOR - July - August 2023 - 13
PLANSPONSOR - July - August 2023 - 2023 PLANSPONSOR National Conference
PLANSPONSOR - July - August 2023 - 15
PLANSPONSOR - July - August 2023 - 16
PLANSPONSOR - July - August 2023 - 17
PLANSPONSOR - July - August 2023 - 2023 Plan Sponsor of the Year Winners
PLANSPONSOR - July - August 2023 - 19
PLANSPONSOR - July - August 2023 - 20
PLANSPONSOR - July - August 2023 - 21
PLANSPONSOR - July - August 2023 - 22
PLANSPONSOR - July - August 2023 - 23
PLANSPONSOR - July - August 2023 - 24
PLANSPONSOR - July - August 2023 - 25
PLANSPONSOR - July - August 2023 - 26
PLANSPONSOR - July - August 2023 - 27
PLANSPONSOR - July - August 2023 - 28
PLANSPONSOR - July - August 2023 - 29
PLANSPONSOR - July - August 2023 - 23 Recordkeeping Survey
PLANSPONSOR - July - August 2023 - 31
PLANSPONSOR - July - August 2023 - 32
PLANSPONSOR - July - August 2023 - 33
PLANSPONSOR - July - August 2023 - Will ‘2.0’ Plug the Leaks?
PLANSPONSOR - July - August 2023 - 35
PLANSPONSOR - July - August 2023 - The Way to Go
PLANSPONSOR - July - August 2023 - 37
PLANSPONSOR - July - August 2023 - Use It or Use It
PLANSPONSOR - July - August 2023 - Stable Value in Focus
PLANSPONSOR - July - August 2023 - Auto-Enrollment Is Still Key
PLANSPONSOR - July - August 2023 - Cover3
PLANSPONSOR - July - August 2023 - Cover4
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