The reversal of the excessive 401(k) fee case against Fidelity Management Trust Co. showed that the onus of fiduciary responsibility and vendor oversight rests with the plan sponsor.
Moreover, the outcome of the case underscored that investment advisors need to help keep plan sponsors accountable to their retirement plan document.
That's the word from global consulting firm Roland Criss following last week's big decision in the case.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
NOT FOR REPRINT
© 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.
