Process Is No Longer Enough
Why Employers Are Facing New 401(k) Legal Risks
Most employers believe their 401(k) plan is protected if they follow a documented fiduciary process. Meetings are held. Investments are reviewed. Decisions are documented. But today, that may no longer be enough. Regulators, courts, and lawsuits are increasingly focused on a deeper question: Were the decisions themselves reasonable, well-informed, and in employees' best interests? That shift is changing the legal and fiduciary risks facing 401(k) plan sponsors.