(The following is the third part of a three part series on benchmarking 401k plans.)
It’s evident all 401k plan sponsors ought to periodically benchmark their plans. Benchmarking provides a clear vista from which to survey the 401k plan. This helps identify weaknesses that can be corrected and addresses important fiduciary liability issues. 
We’ve established the concept of creating a Fiduciary Report Card to facilitate this process. Now comes the question of exactly what kinds of structures and procedures should a 401k plan sponsor invoke to benchmark their plans.
For some plans, the best solution means, ideally, hiring dedicated, full-time professionals to monitor the plan and keep it updated. Large companies can afford a staff devoted to this work. But, in the age of lean and mean, with constant pressure on the bottom line, is this really the best solution for them? In this sense, Continue reading…
