PlanSponsor.com has posted an article by Stephen M. Saxon on the importance of fiduciary liability policies for plan sponsors in the context of the country's current financial challenges. According to the
article, "A small investment of time and research now could pay you back...if you find yourself in the middle of a lawsuit or Labor Department investigation...Keep in mind that ERISA imposes personal liability on those who exercise discretionary authority over the plan's management, administration or assets." The article includes a list of helpful features to look for when researching fiduciary liability coverage.