The Fiduciary Duties of 457(b) Plans and How to Mitigate Potential Risks

By Todd Solomon on May 19, 2022

Posted In Employee Benefits, Executive Compensation, Fiduciary and Investment Issues, Retirement Plans

Fiduciaries of 403(b), 401(a) and 457(b) retirement plans have come under increased scrutiny in recent years, in part due to participant lawsuits filed against plan sponsors and the resulting media attention. In this presentation with the 457 Consulting Group, McDermott Partner Todd Solomon discusses the fiduciary duties of plan sponsors and how to mitigate potential risks. The content in these slides applies to governmental 457(b) plans.

Access the slides.

Tags: 457(b), deferred compensation plans, DOL, Employee Retirement Income Security Act of 1974 (ERISA), fiduciary, Illinois Trust and Trustees Act, Internal Revenue Service, IRS, plan sponsor, US Department of Labor

Todd Solomon
Todd A. Solomon focuses his practice on designing, amending and administering pension, profit sharing, 401(k), employee stock ownership and 403(b) plans, as well as nonqualified deferred compensation arrangements. He also counsels privately and publicly held corporations and tax-exempt entities regarding fiduciary issues under the Employee Retirement Income Security Act (ERISA), employee benefits issues involved in corporate transactions, executive compensation matters and the implementation of benefit programs for domestic partners of employees.Read Todd A. Solomon's full bio.

The Fiduciary Duties of 457(b) Plans and How to Mitigate Potential Risks

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