Regional Vice President of Sales The Retirement Plan Company
|
Bates & Company, Inc.
|
AimPoint Pension
|
Loan & Distribution Specialist AimPoint Pension
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Compass
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Early Returns in 401(k) Fee Cases Favor Defendants
O'Melveny & Myers LLP [Guidance Overview] Sept. 17, 2009
Excerpt: The fact that defendants are thus far winning these cases does not mean that fiduciaries need not be concerned with fees under 401(k) plans. What the courts seem to be saying thus far is that they will not micromanage 401(k) plans or second-guess fiduciary decisions that appear reasonable, even if not perfect. The best evidence for a fiduciary in these cases and future cases, however, is a well-documented record showing that the fiduciaries understood the basic factors affecting fees, were aware of the alternatives they could choose, and made rational decisions that were in the interests of the plans and their participants.
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |