Articles on Improving Your Plan
Many plan sponsors wrestle with the question of who is considered a fiduciary within their 401k plan. Under Section 402 of ERISA every plan must have a Named Fiduciary. This newsletter is dedicated to effectively inform our clients of current trends within the 401k marketplace.
This article was a bulletin written by Andy Williams of the Golan & Christie law firm. In the article he expresses the fiduciary duty of the employer, and the steps plan sponsors should take to help their plan fiduciaries.
During the past 3 years, 401k Plans have become more fee transparent. 401k Service Providers and Advisors are now benchmarking their fees to prove that their fees are reasonable for the services rendered. The issue of 401k fees being fair and reasonable is resolved now …. or is it?
Typically 401k Plans, receive Plan Design consultations only when they change providers. Additionally, the backgrounds of most Plan Advisors are investment related. Therefore they lack specific Plan Design…