The latest review of 403(b) plan sponsors shows many non-profits could be unintentionally be shirking fiduciary best practices.
Only 60 percent of sponsors are reviewing investment options in plans, according to the Plan Sponsor Council of America's annual review of 403(b) plans.
And only 40 percent of smaller plans (1 to 49 participants) are reviewing investments, an action considered by ERISA experts to be fundamental to fiduciary responsibilities.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
