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.