With expanded 401(k) fee disclosures to employees this summer likely to focus even more attention on retirement plans, plan sponsors may want to review their service providers and the burden of fiduciary liability.

While the Employee Retirement Income Security Act (ERISA), which governs workplace retirement plans, mandates that plan sponsors get outside expert help when they don't have enough expertise in-house, that doesn't relieve companies of their fiduciary responsibility. Outsourcing requires vigilance, too.

Consider the cautionary tale of several small plans that entrusted fiduciary responsibility to someone once considered a stalwart in the field.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.