Key Issues 401(k) Plan Fiduciaries Need to Know

Kelley Drye Client Advisory

Substantial losses incurred by 401(k) accounts, a rise in class action lawsuits against fiduciaries for losses incurred by plans, and the Department of Labor’s attention to fees and expenses paid out of plan assets has intensified the pressure on plan fiduciaries to be extra cautious about their obligations under ERISA. The Employee Benefits and Executive Compensation practice group has prepared an advisory outlining some of the issues that plan fiduciaries must consider in selecting and monitoring investment options and the costs associated with the management of plan investments.