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Group Retirement
Risk Management

Group Retirement - Private Equity Fund Sponsors

What is the risk or liability faced by plan sponsors?

Many of Ironview's services for PLAN SPONSORS surround risk mitigation at the plan sponsor level. So, what is the risk or liability faced by plan sponsors? It is likely that group retirement plans, at some point in time, will be audited by the U.S. Department of Labor (DOL). The DOL has the ability to levy monetary fines and/or taxes on the companies sponsoring group retirement plans AND the shareholders, personally, of said companies. 

In addition, another major risk for plan sponsors surrounds participant class action lawsuits. A list of some of the companies targeted in these lawsuits includes:

  • Boeing Co.

  • Caterpillar Inc.

  • Deere & Co.

  • Exelon Corp.

  • General Dynamics Corp.

  • Kraft Foods Inc.

  • International Paper Co.

  • Lockheed Martin Corp.

The typical complaint seeks to recover excessive fees and investment losses from the plan sponsor, or from the owners of the plan sponsor, personally. Individual corporate executives, board directors, and investment committee members can be (depending on the findings) personally liable for losses under ERISA.

Ironview, through their specialized 3(38) fiduciary engagement, enables each of the parties listed above to mitigate these risks (to the extent allowable) under ERISA (see PLAN SPONSORS).

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