‘Fiduciary’ Is The Best Practice 401k Plan Sponsors Can No Longer Ignore
Of Counsel Michelle Capezza was quoted by Fiduciary News in an article outlining the need for plan sponsors to revisit 401k best practices, especially in light of the Department of Labor’s updated rules around investment advice fiduciaries.
Michelle says, “Plan sponsors of employer-provided retirement plans should review their plan participant investment-related services and service provider agreements to determine if there are any desired or required changes to the services, the service agreements, or related participant disclosures in order to confirm the fiduciary nature of any of these services or to ensure that they do not rise to services that are fiduciary in nature and remain more informative or educational if that is desired.”
Source