Managing a company retirement plan is complicated. Maintaining compliance with regulations, understanding fee arrangements, deciding whether the current plan design is most appropriate, choosing and monitoring the plan investment choices, gauging the success of participant education efforts, and knowing your role as plan sponsor or trustee can be challenging.
To properly navigate these issues, an unbiased periodic review can assist to avoiding costly mistakes. It is critical to an employer's operational and fiduciary success that a plan sponsor or trustee be thoroughly engaged.
1. Fiduciary responsibility
First, you must understand what it means to be a fiduciary, as well as who is and who specifically is not. You are a fiduciary if you are a plan sponsor, trustee, or investment committee member of an endowment or a retirement plan.
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
© 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.
