Case Study

Strengthening ERISA Oversight for Utility Company

A prominent U.S. utility company had historically run its ERISA plans with a high degree of consistency and institutional knowledge. Long-tenured internal teams managed complex health, pension, and 401(k) programs with steady execution. Over time, however, the day-to-day demands of administering large, regulated plans had taken precedence over formal documentation. Critical know-how often resided with experienced employees rather than in written policies or procedures.

To preserve that institutional knowledge—and to strengthen formal oversight—company leadership sought to establish clear governance structures across all ERISA plans. The goal was not just to ensure compliance, but to reinforce accountability, continuity, and long-term plan readiness.

SBA began by conducting an enterprise-wide inventory of all ERISA-governed health, pension, and 401(k) plans. Each element of plan administration—including documentation, financial management, vendor relationships, trust and recordkeeping arrangements—was reviewed to identify protocols, expectations, and any existing gaps.

From this baseline, SBA developed a prioritization framework that balanced fiduciary, operational, and compliance considerations. Areas with the greatest exposure were addressed first. Roles and responsibilities were clarified across internal departments and external vendors, creating visibility into how day-to-day tasks aligned with broader governance objectives.

To support ongoing oversight, SBA helped establish a formal committee reporting cadence. A structured meeting calendar ensured that all plan areas received regular attention, with clear documentation and follow-up on progress. SBA also supported the development of action plans to guide incremental improvements and track accountability over time.

The initiative strengthened governance across all ERISA plans, transforming institutional knowledge into documented, repeatable processes. Clear role definitions and process mapping have reduced operational risk, improved continuity, and prepared the organization for leadership transitions.

Structured reporting and communication practices now foster transparency across departments and committees, reinforcing shared ownership of plan oversight. With a complete inventory of responsibilities, documented protocols, and aligned leadership, the company is well positioned to maintain regulatory compliance while continuously raising its standard of excellence.