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The Lost Art of Plan Design: Origins of Fiduciary Liability
Philip J. Koehler for ERISA Fiduciary Administrators Link to more items from this source
Jan. 29, 2014
"The commoditization of plan documents has become so engrained in the industry that rarely does the plan sponsor's management or its board have the draft plan reviewed by independent legal counsel before approving it, accepting on faith the bulk of a complex standard form document on the advice of a service provider who is acting neither as an attorney nor a fiduciary and who possesses little, if any, institutional knowledge about the plan sponsor. Besides ending up with a sub-optimal plan design, such a process places fiduciaries ('clueless' or otherwise) in untenable positions."

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