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Not-For-Profits and the Challenge of Monitoring Retirement Plan Fees
Posted by Brad Sieniawski on Tue, Sep 27, 2016 @ 08:30 AM

As you may be aware, multiple universities were recently named in class action lawsuits relating to their retirement plans. The lawsuits allege that the institutions, and more importantly, the named fiduciaries of the plan, breached their fiduciary duties by allowing excessive fees for investments and recordkeeping and engaging in multiple recordkeepers.

They also were criticized for using restrictive and underperforming investment options for extended periods. These lawsuits demonstrate that not-for-profit organizations are not exempt from scrutiny and need to focus on fulfilling fiduciary duties and monitoring plan fees and expenses.

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Topics: retirement plans, Non-profits, NFP, Retirement Plan Fees, fiduciary

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