These service providers bring in expertise and can engage the worker directly. Once set in place, the plan sponsor can step aside and let the system run on its own.
Tag "Eliza Arnold"
The root of these broader fiduciary concerns lies within the domain of compliance. Everything derives from what the regulators require, what any DOL audit might look at, and what might pique the interest of class-action attorneys.
This dilemma isn’t new. Trust officers have had to face it for generations. It’s called a “split-interest” trust. Multiply this split interest problem by the number of beneficiaries in a typical retirement plan and you can see how this conflict grows more complex.
. As we head towards our year-end hiatus, are you ready to take the dive into raw, unedited comments from those who serve or are served by the retirement industry?
Will These Be The Biggest 401k Fiduciary Stories In 2024?
If you have any experience in the retirement plan business, some predictions just write themselves. As in “an incredible feeling of déjà vu.”