Spencer Fane attorney Greg Ash recently published an article with BenefitsPRO, a leading ALM publication on employee benefits and labor and employment law, on the need for ERISA fiduciaries to actively monitor market turbulence related to COVID-19.
“Individuals and committees who have investment authority over plan assets should reevaluate their portfolios in light of these developments,” Greg wrote. “Circumstances may not require a change in investment strategy, but ERISA’s prudence requirement requires fiduciaries to give immediate, thoughtful consideration to how those circumstances have changed.”
The full article can be read here. To learn more about best practices during the COVID-19 pandemic, please click here.