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What Responsibilities Do Employers Retain After Outsourcing Plan Administration?
Fiduciary Plan Governance, LLCLink to more items from this source
Nov. 11, 2015
"[E]ven if you have properly outsourced these responsibilities, you still must: [1] Carefully monitor how your 'prudent experts' are performing their duties. You are still responsible for their actions being prudent. [2] Retain ultimate decision-making authority for hiring and firing.... It's up to you to make all final decisions. [3] Independently evaluate the suitability of their actions, expenses, and overall performance."

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