This article explores the growing challenge retirement plan sponsors face as more participants retain their assets in-plan into older age, when cognitive decline becomes more common. With dementia cases projected to rise significantly, fiduciaries must navigate how to protect participants from financial fraud while fulfilling their legal obligations under ERISA. Although the law doesn’t specify actions for dealing with cognitive impairment, fiduciaries are still required to act in participants’ best interests.
Original article written by Remy Samuels and published in PlanSponsor magazine.
