Blog Archives: 2015

What Are an Employer’s Fiduciary Responsibilities Regarding Retirement Plans?

I recently read a couple of articles that caught my attention because they highlighted the important responsibility employers have in management oversight of their sponsored retirement plans.

One lawsuit was recently settled for $62 million, in which the employees accused the employer of mismanaging their 401(k) plan. The lawsuit stated that the employer hid excessive fees and invested in conservative investments that resulted in diminished investment returns for plan participants. In another case, the U.S. Supreme Court will soon hear arguments where participants in a 401(k) plan argued that they were being charged excessive fees.

These cases raise the question: what are the employer’s fiduciary responsibilities with respect to retirement plans they sponsor?

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Lessons Learned in Obtaining CMBS Financing

Hotel development is on an upswing in the Seattle area  ̶  more than 1,200 rooms are currently under construction with many more planned. There are several factors contributing to the development: tourism growth, increase in hotel room demand and the improved lending environment.

To capitalize on this growth, one of our firm clients recently obtained a commercial mortgage backed security (CMBS) financing package for the refinance of their hotel property to develop another hotel. This was their first time entering into the CMBS financing world and much was learned along the way. They were kind enough to share some of their lessons learned.

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Nip fraud in the bud: announcing the Clark Nuber Fraud Reporting Center

Tips are by far the most common way that fraud is discovered—more than twice as often as any other method. On average, companies that have a fraud reporting hotline cut the cost of fraud by 41% and the time to detection by 50%. But setting up or subscribing to a fraud hotline can be prohibitively expensive.

Now there’s an easy-to-use fraud reporting tool available from Clark Nuber where employees of registered companies can anonymously report fraud in just a few clicks. It’s called the Clark Nuber Fraud Reporting Center, and it’s available today. You don’t even have to be a Clark Nuber client to use it.

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Fraud prevention – five simple things you can do to get started

I recently watched a short video published by the Association of Certified Fraud Examiners (ACFE), and I wanted to share two big lessons I pulled away from it. The video is a brief five minutes, but it is loaded with valuable information and some simple and highly effective fraud prevention techniques that I will summarize.

First of all, have you ever wondered how to get started on a fraud prevention program? Have you ever found yourself saying, “Fraud prevention seems complex and expensive, and as a small business I don’t think we have the resources?” How about, “I’ve heard about so many different fraud prevention measures,

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When it comes to cybercrime, the separation is in the preparation

Cybercrime is a growing concern for businesses and individuals alike. Breaches like those experienced at Target and Home Depot are wide spread and very costly. However, the costs go well beyond the onset of bad publicity and often include significant costs to:

  • Identify the affected customers
  • Communicate the breach to affected customers
  • Monitor the credit report for affected individuals
  • Remedy the breach and prevent future incidents, and so on.

You may have a number in your head for what you think it may cost to recover from an incident like this. What if you had to add a 0 to it?

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Melissa Takade
Director of Marketing
Clark Nuber
Phone: 425-454-4919
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