Compensation Strategies Group, Ltd.
Nicholas Pension Consultants
Nova 401(k) Associates
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|On the Human Element in Plan Governance, Officiating and other Human Endeavors|
Stephen Rosenberg, The Wagner Law Group
Nov. 25, 2015
"[At] the end of the day, the central element of all of these (and many other) issues with regard to ERISA plans is that we are dealing with humans here, not robo-advisors or whatever else (like target date funds, for instance) that people want to think can take the messiness out of plan governance, pension investing, 401(k) decisions and the like.... [P]lan governance cannot help but have human error baked in, which is why, if you get to the heart of it, ERISA litigation doesn't focus on the outcome of plan governance but instead on the process of how the outcome came about: was there too much human error, or was enough effort and thought put into the process that brought about the outcome?"
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