Best Practice #8: Adopting a Fiduciary Governance Program
December 21, 2016—Welcome to the Alliant Best Practices Series for 401(k) Plan Sponsors, in which we offer 10 best-practice essentials for helping plan participants achieve retirement plan success. Here’s the eighth best practice in our series.
"If you fail to plan, you are planning to fail!”
- Benjamin Franklin
In our last post we discussed the importance of establishing a regular fee comparison and review process to protect employers and plan participants from overcharging by service providers, and to preventatively ward off Department of Labor (DOL) investigations or fines, as well as potential lawsuits by employees.
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A landmark Supreme Court case every employer should be aware of
September 27, 2016—Last year the Supreme Court of the United States (SCOTUS) convened to decide a landmark case: Tibble v. Edison. According to InvestmentNews,1 this was “the first 401(k) fee case to be heard by the U.S. Supreme Court.”
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Best Practice #7: Establishing a Regular Fee Comparison and Review Process
September 5, 2016—Welcome to the Alliant Best Practices Series for 401(k) Plan Sponsors, in which we offer 10 best-practice essentials for helping plan participants achieve retirement plan success. Here’s the seventh best practice in our series.
“This witch's brew of hidden fees, conflicts of interest and complexity in applications is at odds with investors' best interests.”
- SEC Chairman Christopher Cox
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