Retirement

Fiduciary Blind Spots: What Plan Sponsors Miss and Why It Matters

Sponsoring a qualified retirement plan involves complex responsibilities and potential pitfalls — many of which can be confusing. Many plan sponsors lack clarity about their own responsibilities, yet proper understanding of fiduciary roles is critical to protect both employer and employee interests and to ensure successful plan outcomes.

Plan fiduciaries may include plan trustees, plan administrators, and members of a plan’s investment committee.

It’s important for plan sponsors and employers to understand that if they are involved in the plan and the plan decision-making process — even informally — they are likely plan fiduciaries.