"Service Organization Control (SOC) reports outline the service providers' internal controls over financial reporting, as well as show the results of tests of those controls for operating effectiveness.... As a plan sponsor, to properly assess and manage the risks associated with delegating common 401(k) plan tasks to outside service providers, you need to review their SOC reports. SOC reports also help you evaluate whether service providers meet necessary control standards when selecting them as vendors in the first place."  MORE >>