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Case Suggests that RFPs May Be Necessary to Fulfill Fiduciary Duties (PDF)
The Wagner Law Group in 401(k) Advisor 
[Guidance Overview] Aug. 25, 2011
DOL regulations regarding fiduciary responsibility require that fees paid by a 401k plan to its service providers be reasonable. Most 401k sponsors probably believe that hiring consultants to advise them on whether a recordkeeper's fee schedule is excessive is sufficient to satisfy the sponsor's fiduciary responsibility.... A recent decision by the U.S. Court of Appeals for the Seven Circuit concluded, however, that relying on consultants was not adequate.
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