Jania Stout on the Rising Tide of 401(k) Litigation

In a recent article on PLANADVISER titled “Top Advisers: Diligence in 401(k) Plan Litigation More Crucial Than Ever,” Jania Stout, Senior Vice President, Retirement Services at OneDigital, shared her insights on the increasing complexities of managing 401(k) plans amidst a surge in litigation.

The article underscores the critical importance of diligence in managing 401(k) plans amidst a significant rise in litigation cases. With a 50% increase in 401(k) litigation in 2024, plan advisers are facing unprecedented challenges. Stout highlights that both large and small plans are now vulnerable to lawsuits. The evolving complexities of retirement plan designs and expanding fiduciary responsibilities make compliance with ERISA more challenging than ever. Stout emphasizes the necessity for robust risk management and vigilance to navigate this intricate landscape.

Litigation is no longer just a concern for large plans; smaller plans are equally at risk. The evolving retirement plan designs and expanding fiduciary responsibilities make compliance with ERISA increasingly complex.
 
— Jania Stout, Senior Vice President, Retirement Servicess, OneDigital

OneDigital offers comprehensive services to help plan sponsors and advisers mitigate these risks. Our team of experts provides fiduciary risk management to ensure compliance with ERISA and other regulatory requirements, plan design consulting to tailor retirement plans to meet the unique needs of each organization while minimizing litigation risks, ongoing education and training to keep plan sponsors and advisers informed about the latest legal developments and best practices, and litigation support to offer expert guidance and support in the event of a lawsuit. By partnering with OneDigital, plan sponsors can confidently navigate the complexities of 401(k) plan management and protect their plans from potential litigation.

Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.