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These providers handle the intricate details of benefits administration, from negotiating with insurancecarriers to managing employee enrollments and claims. Their services include 401(k) plans, pension plans, and personalized financial planning.
Section 405 of the Employee Retirement Security Act of 1974 (ERISA) provides for joint liability for co-fiduciaries of a pension, health or welfare benefit plan. In this case, there was an enrollment error in signing up an employee for lifeinsurance coverage with his employer – Georgio Armani Corp.
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