Defining a Standard of Care

In the context of retirement readiness, how do we identify the circumstances under which reasonable caution and prudence must be exercised? The standard of care stems from the 1837 case of Vaughan v Menlove. This case established that the standard of care is dependent...

Employee Investment Outcomes and the New Fiduciary Standard

When Section 401(k) became a permanent provision of the Internal Revenue Code in 1980, a seismic shift occurred in American workers’ preparation for retirement. The responsibility for contribution and investment decisions shifted from employers to employees. Before...