CPA Mutual Partnership Page

Fiduciary Liability

Welcome to the CPA Mutual Partnership Page with Rockwood Programs

The Employment Retirement Income Security Act (ERISA) mandates that a fiduciary of an employee benefit plan act solely in the best interest of participants and beneficiaries.  Individual plan administrators are held personally liable for any breach of their fiduciary responsibilities, jeopardizing both corporate and personal assets!
Some other things your clients should know:

* The ERISA-mandated fidelity bond does not cover a plan administrator's fiduciary liability exposure.   
* Delegating all aspects of plan administration to another party does not eliminate an employer's fiduciary responsibilities.  The employer must investigate the financial stability of the firm and periodically monitor its performance.
* ERISA-related legal actions have become so prevalent that plan fiduciaries now surpass the medical profession as a target for litigation.

CPA Mutual - in partnership with Rockwood Programs, Inc – offers a coverage designed to economically provide expert defense and insurance liability protection against any breach of duty allegations.  The plan is comprehensive, affordable, and can even be expanded to include the ERISA-mandated fidelity bond and/or Employee Dishonesty!  All coverages are underwritten by insurance companies rated “A” or better by A.M. Best. 

For more information contact:

William “Bill” W Thompson CPA RPLU
President COO
CPA Mutual RRG
11801 Research Dr
Alachua Fl 32615
800-543-3029     (fax) 386-418-4004
wthompson@cpamutual.com
www.cpamutual.com