With the Department of Labor’s release of its proposed conflicts of interest rule and recent court cases involving fiduciary duties, fiduciary responsibilities are getting a lot of attention. If you are a fiduciary for your company’s retirement plan, now is a good time to review what your role is and make sure you are meeting your obligations.
In our recent Employee Benefit Plan Benchmarking Survey, Aronson asked retirement plan sponsors about their governance practices, specifically whether they use an outside advisor and if they have a 401(k) committee. Not surprisingly, 80% of respondents indicated they did use an outside …read more
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