Johnson Quoted in PlanAdvisor
Employee Benefits Member Danny Johnson was quoted in PlanAdvisor on August 7, in the article “Plans Must Carefully Field ERISA Claims and Settlements.” The piece discusses the responsibility of the retirement plan adviser to help the plan administrator figure out how to award the funds to participants and the lack of regulations providing guidance.
“If the settlement was determined in a relatively short period of time, it could be easy for the administrator to allocate the funds, Johnson says. However, in most cases, lawsuits carry on for several years or longer. In that time some participants many have left a plan, making it challenging for the administrator to locate them and potentially causing delayed payments, Johnson says.”