It’s too easy for plan sponsors to get lost in the weeds when dealing with plan minutia. Yes, “the buck stops here” reality can overwhelm many. Delegation is the key. It’s also the Achilles Heel. This is where the magic word emerges.
Tag "Jeff Coons"
![‘Fiduciary’ Is The Best Practice 401k Plan Sponsors Can No Longer Ignore](https://fiduciarynews.com/wp-content/uploads/2024/07/checklist-1956737_1920-660x395-1-505x306_c.png)
![Does The New Fiduciary Rule Really ‘Level The Playing Field’?](https://fiduciarynews.com/wp-content/uploads/2024/05/usc-football-1442352-660x395-1-505x306_c.jpg)
For all the good intentions, however, what will happen when the rubber finally meets the road? Will the new DOL Fiduciary Rule really level the playing field?
![The Impact Of New Fiduciary Rule On 401k Plan Sponsors](https://fiduciarynews.com/wp-content/uploads/2024/04/vulcano-1562300-660x395-1-505x306_c.jpg)
Here’s where the greatest controversy of the new Rule, as with its predecessors, comes to a head.
![A 401k Plan Sponsor Fiduciary Puzzle: Are Low Fees High Risk?](https://fiduciarynews.com/wp-content/uploads/2023/04/dangerous-1040641-660X395-scaled-505x306_c.jpg)
You cannot understate the fiduciary aspect of lower fees. Most 401k plan sponsors, and especially those in smaller plans, don’t have the time or expertise to administer their company’s retirement plan. If they skimp on fees, are they also skimping on the fiduciary protection those professionals are supposed to provide?
![Top Issues (And Their Solutions) 401k Plan Sponsors Have With Recordkeepers](https://fiduciarynews.com/wp-content/uploads/2022/09/mill-e-o-4-1483114-660x395-1-505x306_c.jpg)
Nobody’s perfect. It’s unfair to expect recordkeepers to be. Everyone makes mistakes—even recordkeepers. The problem is what happens when a mistake occurs.
![Top Issues (And Their Solutions) 401k Plan Sponsors Have With Payroll Processors](https://fiduciarynews.com/wp-content/uploads/2022/08/closeup-of-gears-and-cogs-clockwork-3099512-660x395-1-scaled-505x306_c.jpg)
How do you solve, for example, the problem of integration between the payroll software and the 401k recordkeeper’s website?
![5 Uncommon 401k Plan Sponsor Mistakes That Shouldn’t Ever Happen](https://fiduciarynews.com/wp-content/uploads/2022/08/four-leaved-clover-1-1310138-660x395-1-scaled-505x306_c.jpg)
A few years ago, this might have been classified as a common “mistake.” Again, “mistake” is in quotes because this is less an issue for certain plans (usually small firms or particular industries) than others.
![Common 401k Plan Sponsor Mistakes That Are Easy To Fix](https://fiduciarynews.com/wp-content/uploads/2022/08/baldwin-fix-it-shop-2031727-660x395-1-scaled-505x306_c.jpg)
But this rookie mistake doesn’t bypass veteran plan sponsors. If they’ve grown too complacent with their plan, they may wake up one day to find out they’ve got a dinosaur on their hands.