by Lisa Van Fleet
No matter how highly educated your employees are, they’re probably not professional investment experts. Yet it’s likely your organization has shifted responsibility for retirement savings to those employees, leaving them to figure out which investments are right and which are too risky.
Perhaps you’ve wanted to steer them toward the best investments, but have been reluctant to do so because it might expose your organization to lawsuits if that advice leads to the purchase of a stock that tanks. So you’ve settled for handing out generic literature about smart investing that doesn’t consider an individual’s situation.
The Pension Protection Act of 2006 makes it safe for employers to arrange for employees to receive personalized, specific advice on investments.
As long as your organization follows three rules, it can hand off its liability for that advice to the person or organization giving the advice...(register to read more)