Plan Fiduciaries Must Follow Plan Documents
This may sound like common sense but it does in fact need to be noted: according to IRS rules, a plan must operate according to its own plan document’s terms in order to maintain its…
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Hidden Fees Can Make Plan Investments Imprudent
As a fiduciary, you may do everything by the book in choosing what to invest plan assets in. The investment may be safe, provide proper amounts of returns and not be overly risky. But there’s…
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Excessive Fee Suits Against Plan Fiduciaries Becoming More Popular
An increasing number of 401(k) sponsors and providers of retirement products are seeing lawsuits against them alleging, among other things, excessive plan fees in violation of ERISA and therefore, a breach of the plan fiduciary’s fiduciary duty….
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Plan Fiduciaries Must Evaluate Plan Fees
Plan fiduciaries have a lot of obstacles to avoid during plan administration to avoid fiduciary breaches, but the most common breach of fiduciary duty is for a plan that has unreasonable fees and expenses. This…
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Slightly higher 401(k) Fees Make Plan Sponsors Liable
Paying 1% higher fees than the average rate for someone to administer a 401(k) plan does not sound like it would cause too many problems. But paying fees even 1% higher than average in 401(k)…
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