Determining whether fees are reasonable for participants requires an additional layer of calculation, and some fee elements and allocations make it more complicated than it should be.
Stopping employer matching contributions, laying off employees, adjusting DB plan contributions; plan sponsors need to understand the effects of each decision.
Now that plan documents will be cleaned up, 403(b) plan sponsors can focus on strategic tasks such as plan design changes and on complying with new legislation.
What happened to interest rates is just as important as what happened to equity markets, and DB plan sponsors should implement portfolios that manage both.
Before following the crowd, DB plan sponsors should look at the cost to maintain their plan relative to the company’s financial situation—and look at its value to employees.
Plan sponsors should understand the components of administration, the interplay of providers and on what duties sources say sponsors are falling behind.
The SECURE Act offered an annuity selection safe harbor for plan sponsors, but education will be the first step in getting this income protection to plan participants.