Percy Lee Speaks at PLANSPONSOR National Conference 2021PDF
IPB associate Percy Lee was a featured speaker on the panel "Fiduciary Mistakes to Avoid," at the PLANSPONSOR National Conference 2021 (PSNC) on June 22.
“'Compliance issues are often interrelated,' said Percy Lee, an associate attorney with Ivins, Phillips & Barker.
Along those lines, plan sponsor fiduciaries need to follow more than just the Employee Retirement Income Security Act (ERISA) and guidance from the Department of Labor (DOL), he said. They also need to comply with IRS rules, Health Insurance Portability and Accountability Act (HIPPA) regulations and state laws, as well as the General Data Protection Regulation (GDPR) if the firm has a presence in the European Union.
He also said plan sponsors need to encourage their committees to document fiduciary discussions and integrate those key points into their requests for proposals (RFPs). "
Read more about the panel in "PSNC 2021: Fiduciary Mistakes to Avoid," from PLANSPONSOR.