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Home / Expert Opinion / Keeping Your Balance: Diversification limits liability for benefit plan sponsors

Keeping Your Balance: Diversification limits liability for benefit plan sponsors

A plan sponsor has certain fiduciary responsibilities to plan participants. This includes acting solely in the interest of plan participants and their beneficiaries, with the exclusive purpose of providing benefits to them, carrying out their duties prudently, following the plan documents, diversifying plan investments and paying only reasonable plan expenses. Lack of diversification has generated lawsuits ...