While just over half of employers in a recent survey said it was very important for a private exchange to accept ERISA fiduciary responsibilities for the plans purchased on the exchange, the reality is employers cannot offload their fiduciary responsibility by moving to a private exchange, say legal experts.
Youre still talking about group benefits and youre still talking about the employer being the primary plan sponsor, says Glenn Dill, a consultant with herronpalmer LLC.
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