Shoppers often must confront the hidden costs of convenience. Sometimes it means paying a little extra for that convenience. Sometimes it’s accepting a little lesser quality for that convenience.
All 401(k) plan sponsors must act as fiduciaries for the sole benefit of their plan’s participants. When they make a decision based on personal or corporate convenience, 401(k) plan sponsors need to ask themselves if it’s worth it to sell their souls for one-stop shopping.