Avoiding the Breach: Bringing Higher Education 403(b) Plans Up-to-Date with Current ERISA Fiduciary Best PracticesExecutive SummaryOne of the most crucial considerations for a 403(b) plan sponsor in light of the final regulations is the personal exposure they have to the Employee Retirement Income Security Act, or "ERISA." 403(b) plan sponsors and the plan's fiduciaries are quickly learning that failure to comply with ERISA can result in personal liability for any breach in compliance. This paper will assist employers, particularly those representing colleges and universities, in understanding when and how ERISA applies to 403(b) plans. |
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