February 2018 Archives

Fiduciaries under ERISA do not know their duties

For many who have benefit plans through employers, the results of a recent study may bring shock and fear, especially for those who are nearing retirement. It seems that, in more than half of the cases, no one is minding the store. In other words, those whose duties are to oversee and protect retirement plans and investments covered by the Employee Retirement Income Security Act of 1974 (ERISA) do not know they are fiduciaries. Tennessee participants may want to examine their benefits to see who is monitoring their plans.

Will Facebook see more mass torts for spam violations?

Many websites use a two-factor authentication as a form of security for a user's private information. This means that in addition to a password, a Tennessee social media user may be required to enter a second piece of information, such as a phone number. Recently, Facebook has come under fire for abusing that two-factor authentication and using people's phone numbers to send them spam notifications. If investigations show that Facebook is deliberately exploiting people's information, analysts say the company may face more mass torts in the future.

Tip sharing may stir many wage and hour disputes

A tip dropped on the table or added to a credit card payment can be a statement of dissatisfaction or a generous thank you for prompt and courteous service. For many in the service industry in Tennessee, tips often mean the difference between making a living and struggling to survive. However, a proposal currently circulating in the U.S. Department of Labor is considering a measure that may create a tense atmosphere between servers and employers, as well as opportunities for many wage and hour disputes.

If you worked with asbestos, know symptoms for mesothelioma

For decades, American workers in a variety of fields experienced dangerous levels of exposure to asbestos. As a naturally-occurring mineral compound, asbestos was a cost-effective solution to a host of manufacturing and product issues, until it became clear what a risk this compound posed. By the time the government actively started intervening, thousands of Americans had been exposed to dangerous and potentially fatal levels of the substance.

United of Omaha faces ERISA lawsuit

Many who retire with 401(k) plans or other Tennessee employer-established pension plans feel confident in the administration of those plans when they are under the protection of the Employee Retirement Income Security Act of 1974. This federal law, known as ERISA, requires employers who voluntarily offer retirement or health benefits to follow specific regulations regarding the fiduciary management of the plans. This is to ensure the participants' best interests are protected and there are no conflicts of interest that could jeopardize their potential profits.

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