FF5 #59 - Supreme Court Lessons Learned - Cunningham v Cornell

In this episode of Friday Fiduciary Five, Eric Dyson talks about lessons learned from the Supreme Court case Cunningham v Cornell, focusing on the distinction between prohibited transactions and exempt prohibited transactions under ERISA. He emphasizes the importance of proper disclosures, such as ERISA 408(b)(2) disclosures, to ensure arrangements are reasonable and not prohibited. Eric highlights the need for committee members and advisors to understand their legal fiduciary duties and to manage plan expenses WHEN POSSIBLE by writing checks for services rather than using plan assets. He also notes concerns about the potential for increased litigation and fiduciary liability insurance costs due to an implied lower pleading standard from this case.Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: [email protected] LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes.It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.