One-third of sponsors of plans with 50 to 200 participants admitted to not knowing if revenue-sharing agreements were in force, and more than 25 percent of sponsors of plans with 200 to 1,000 participants said they were unaware. (Photo: Shutterstock)
Many sponsors of 403(b) defined contribution plans remain in the dark on how retirement plans are administered and paid for, in spite of a bevy of high profile fiduciary lawsuits against elite universities.
According to a Plan Sponsor Council of America survey, more than 30 percent of non-profit sponsors don't know if they use revenue sharing to pay for plan administration.
The confusion occurs relative to plan size. Among plans with fewer than 50 participants, nearly half don't know if plan investments include revenue-sharing fees.
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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.
