Understand and Manage Your Fiduciary Risk
Your 401(k) plan is a critical benefit for attracting and keeping employees in a competitive environment. But effective retirement plan management is a complex business, all the more so given the fiduciary responsibilities involved. It’s important to be aware of exposures that could lead to big problems.
Sponsoring an employee retirement plan requires you to demonstrate adequate prudence in overseeing its investments and day-to-day administration. Sharing the fiduciary risk with a qualified partner is a smart way to go but, first, here are the issues you need to consider.
In the battle for talent, small businesses that overcome old concerns about 401(k) plans may put themselves in the best position possible to win. Learn how to make your retirement and healthcare plans work together.