Appointing retirement plan fiduciaries has proven to be difficult for C-suites of American companies.  The role of a plan fiduciary is complex and comes with a tremendous amount of personal and corporate responsibility. Lately, there have been many lawsuits from large well-respected companies and organizations focusing on litigation and fees, which has raised the stakes for plan sponsors, and finding good fiduciaries.

A few important aspects to remember regarding choosing the right fiduciary include interviewing potential committee members, finding staff members with competencies in Finance, HR, Payroll Communications, Securities, Legal, and Accounting, and Identifying individuals with the ability to learn versus just being able to act.  To learn more about the “do’s” and “don’ts” when it comes to hiring the right fiduciaries, check out the blog below.

https://401ktv.com/401k-lawsuits-can-avoided-right-fiduciaries/