PLANADVISER - January/February 2021 - 32

regulatory & compliance | analysis
Plan Governance
According to our survey analysis, sponsors may really need your help
W
hy do plan sponsors hire retirement plan advisers?
Is it to help them improve their plan? To strengthen
plan governance? To bring expertise the plan
sponsor lacks? The reasons-there are probably more than
one-vary from sponsor to sponsor.
In any event, it is likely that a plan sponsor hiring an
adviser anticipates measurable outcomes that that professional
will provide-a return on investment (ROI) of sorts.
To improve the plan, it could be demonstrably better metrics
showing increased participation and deferral rates-these
could be high on sponsors' wish list when interviewing candidates.
Just as important, and maybe less obvious, is the ROI
advisers bring to plan governance-maybe the introduction
of an investment policy statement (IPS) or a regular meeting
schedule for the plan committee to adopt.
According to the Department of Labor (DOL) publication
" Meeting Your Fiduciary Responsibilities, " under the
Employee Retirement Income Security Act (ERISA) fiduciaries
have specific requirements. These include to maintain
reasonable plan fees, follow the terms of the plan, select
diversified investment options and, perhaps most important,
manage the plan with participants' best interests in mind.
32 | planadviser.com January-February 2021 Art by Valeria Petrone

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PLANADVISER - January/February 2021

Table of Contents for the Digital Edition of PLANADVISER - January/February 2021

Are You Leaving the Door Open?
A Question of Liability
How 3(38) Advising Profits Clients
The Tax Distinction
How to Choose a PEP
Plan Governance
Continuous Education
The Latest Word on ESG
ESG Investing Under ERISA
PLANADVISER - January/February 2021 - Cover1
PLANADVISER - January/February 2021 - Cover2
PLANADVISER - January/February 2021 - 1
PLANADVISER - January/February 2021 - 2
PLANADVISER - January/February 2021 - 3
PLANADVISER - January/February 2021 - 4
PLANADVISER - January/February 2021 - 5
PLANADVISER - January/February 2021 - 6
PLANADVISER - January/February 2021 - 7
PLANADVISER - January/February 2021 - 8
PLANADVISER - January/February 2021 - 9
PLANADVISER - January/February 2021 - 10
PLANADVISER - January/February 2021 - 11
PLANADVISER - January/February 2021 - 12
PLANADVISER - January/February 2021 - 13
PLANADVISER - January/February 2021 - Are You Leaving the Door Open?
PLANADVISER - January/February 2021 - 15
PLANADVISER - January/February 2021 - 16
PLANADVISER - January/February 2021 - 17
PLANADVISER - January/February 2021 - 18
PLANADVISER - January/February 2021 - 19
PLANADVISER - January/February 2021 - A Question of Liability
PLANADVISER - January/February 2021 - 21
PLANADVISER - January/February 2021 - 22
PLANADVISER - January/February 2021 - 23
PLANADVISER - January/February 2021 - How 3(38) Advising Profits Clients
PLANADVISER - January/February 2021 - 25
PLANADVISER - January/February 2021 - 26
PLANADVISER - January/February 2021 - 27
PLANADVISER - January/February 2021 - The Tax Distinction
PLANADVISER - January/February 2021 - 29
PLANADVISER - January/February 2021 - How to Choose a PEP
PLANADVISER - January/February 2021 - 31
PLANADVISER - January/February 2021 - Plan Governance
PLANADVISER - January/February 2021 - 33
PLANADVISER - January/February 2021 - 34
PLANADVISER - January/February 2021 - 35
PLANADVISER - January/February 2021 - Continuous Education
PLANADVISER - January/February 2021 - 37
PLANADVISER - January/February 2021 - The Latest Word on ESG
PLANADVISER - January/February 2021 - ESG Investing Under ERISA
PLANADVISER - January/February 2021 - 40
PLANADVISER - January/February 2021 - Cover3
PLANADVISER - January/February 2021 - Cover4
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