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 …
What does it really mean to “govern” a retirement plan?
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 …