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My money doesn’t jiggle jiggle, it folds.
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Yes. I’m curious to see how many errors are made once this settles down.
Potential death is more pressing than a (k) plan. Erisa should be understanding about any errors made during this time.
I hope so!
FA1 - I agree but there will be a hungry den of wolves waiting at the end of all this: lawyers. Plan sponsors, fiduciaries, employers, doctors, hospitals - so many lawsuits will be filed. Scary part is knowing how much lobbying the lawyers do to ensure their lawsuits can move forward.
ERISA attorneys seem to think it’s better to act in participants’ best interests even if processes aren’t clear. They believe DOL will extend grace for plan sponsors acting with good intentions. I tend to think the same old fee and fiduciary lawsuits will be filed since investors lost so much in the market downturn. They’ll argue inappropriate share classes & glidepaths as well as fiduciary oversight failures as a means to recuperate as much as possible. Just my opinion.