To defend themselves against ERISA violations, plan sponsors need to understand their fiduciary obligations. As the parties generally responsible for plan oversight, benefits committees play a central role in minimizing compliance risk.
How to help 401(k) plan sponsors avoid excessive fee lawsuits
To avoid class-action settlements and regulatory penalties that can cost millions, plan sponsors must ensure 401(k) fees are cost-conscious for participants. Here are best practices to consider.
Governance basics every plan sponsor should know
How do plan sponsors operate and administer employee benefit plans in a manner that is both effective and compliant with applicable regulatory and fiduciary obligations?
6 things your pension administrator may not be doing
Are you getting the most from your defined benefit pension plan outsourcer? Here are six things to check the next time you look under the hood of your relationship.
Preventive maintenance is key to retirement plan health
Periodic checkups can keep plans running smoothly and help plan sponsors identify issues early, before those become difficult and expensive to correct. Such audits come in two varieties—transactional audits and operational audits.
A background on retirement plan cyber crimes and how to mitigate them
The onus of safeguarding plan participants from fraud does not fall solely on the recordkeeper. Both DC plan sponsors and recordkeepers need to agree on fraud-resistant processes that are clearly documented, rigorously implemented and consistently followed. Here are a few tips.
Where plan sponsors and recordkeepers stand on multi-factor authentication
We surveyed plan sponsors and 401(k) recordkeepers to determine how they are using multi-factor authentication (MFA) as a tactic for mitigating defined-contribution plan fraud and protecting sensitive participant and plan information. Here’s what we found.