Insights

SPACs have become a popular investment strategy, raising substantial funds in 2020. But how do SPACs work? And should you be investing in them?

The fiduciary of a retirement plan is legally responsible for the plan’s financial and administrative decisions. Any mistakes, errors, or wrongdoing that occurs in the operation of the plan is the fiduciary’s responsibility. If the plan sponsor does not have the funds to fix the fiduciary breach the personal assets of the fiduciary are at risk. Actions of a fiduciary must be consistent with the Prudent Man Rule as defined in Title 29 of the U.S. Code §1104