A: Plan governance refers to the structure, processes, and oversight plan sponsors put in place to ensure the retirement plan runs smoothly, complies with ERISA, and supports participant outcomes. That includes defining fiduciary roles, monitoring service providers, maintaining plan documentation, and managing operations and compliance with care and consistency.

Strong governance isn’t just about avoiding litigation; it’s about fulfilling fiduciary responsibilities and building a foundation for long-term plan health. It involves:

• Delegating oversight to a benefits committee or other co-fiduciaries
• Maintaining accurate, accessible records of plan documents, decisions, and deadlines
• Monitoring plan operations, expenses, participant communications, and vendor performance
• Staying prepared for regulatory or organizational changes

SBA helps plan sponsors assess where their governance practices stand today and build frameworks that support continuity, accountability, and better outcomes for plan participants.

A: At SBA, our role is to be objective and data-driven at all times. We don’t sell financial or insurance products, receive commissions, or have ties to the vendors we evaluate on behalf of clients during RFP searches. That independence means our advice is guided solely by your goals. Our focus is on helping you optimize your benefits strategy, improve vendor performance, and reduce costs—all with an eye on ensuring you fulfill the required fiduciary duties to your participants.

It’s a common misconception to lump us in with brokers or investment advisors, but SBA plays a very different role. As an independent firm, we rely solely on data and our clients’ best interests, enabling us to design strategies rooted in fiduciary principles and focused on measurable outcomes. Our culture is centered on partnership, retention, and results.

In short: SBA is built to serve, not to sell. That’s why our clients get advice they can trust, grounded in data, transparency, and their best interests.

A: Voluntary benefits are often viewed as lower risk because they’re employee-paid and sit alongside core health and welfare plans rather than inside them. That perception can lead to lighter oversight of compensation structures, carrier arrangements, and administrative fees.

The exposure typically arises when compensation is indirect, embedded in premiums, or not clearly documented. As regulatory scrutiny and fee-related litigation continue to expand, voluntary programs are increasingly being examined through the same fiduciary lens applied to other ERISA-covered benefits. That includes how vendors are selected, how compensation is structured, and whether the sponsor has exercised appropriate oversight.

A disciplined review doesn’t mean something is wrong. It means ensuring that fee arrangements are transparent, reasonable, and well-documented. SBA helps plan sponsors evaluate voluntary benefit structures, understand how compensation flows, and confirm that governance practices are aligned with evolving expectations—reducing the likelihood of unpleasant surprises down the road.