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Understand and Manage Your Fiduciary Risk
Proper investment oversight is essential to the success of your retirement program yet many companies don’t fully understand the subtleties of investment fees and commissions and are often unaware that they may have significant fiduciary exposure.
The pressure to manage costs and compliance while supporting employees has never been greater. Explore how the pandemic has amplified fiduciary risks for employee retirement plan sponsors and committees.
Your 401(k) plan is a critical benefit for attracting and keeping employees in a competitive environment. But effective retirement plan management is a complex business, all the more so given the fiduciary responsibilities involved. It’s important to be aware of exposures that could lead to big problems.
Sponsoring an employee retirement plan requires you to demonstrate adequate prudence in overseeing its investments and day-to-day administration. Sharing the fiduciary risk with a qualified partner is a smart way to go but, first, here are the issues you need to consider.