Approximately half of plan sponsors said they spend less time than they would like on their retirement plans according to a recent PlanSponsor article. Especially in times of market volatility, plans need to make sure all policies and governance procedures are updated and in place. They should have someone with access to real-time information about investments on a plan’s investment menu – whether it’s an adviser or outsourced fiduciary.
Mike Cagnina, Vice President and Managing Director of the Institutional Group, agrees, “If a plan sponsor came to us saying it didn’t have the time to focus on its retirement plan like it wants to, we would gather some basic information about its plan and its providers and give it a best practices checklist for governance, investment strategy, participant education and compliance,” Cagnina says. “They’ll have more efficiency and potentially save some money.”Read the Full Article
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