Photo: Shutterstock
ERISA requires retirement plan fiduciaries to do what a like fiduciary would do under the circumstances then prevailing. There is no debate that the COVID-19 pandemic has presented a particularly unique set of circumstances in this country. The stock market took the largest downturn since the 2008 financial crisis. That downturn – coupled with the rapid change in societal behavior and stay-at-home orders – has caused a ripple effect resulting in an unprecedented number of company shutdowns and bankruptcies, mass layoffs and furloughs nationwide.
While there is nothing inherent in the health crisis itself that affects retirement plans, fiduciaries might nevertheless be wondering what they should be doing – in the wake of, or in spite of – the unique circumstances presented by the COVID-19 pandemic and its effect on the market.
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
