American workers increasingly rely on 401(k) plans

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Private Pensions: Filing Fiduciary Obligations Can Present Challenges for 401(k) Plan Sponsors

American workers increasingly rely on 401(k) plans

Our Price: $25.00

By Barbara D. Bovbjerg (au)
Year: 2008
Pages: 40
Binding Paperback

Product Code: 1437909027

Description

American workers increasingly rely on 401(k) plans for their retirement security, and sponsors of 401(k) plans -- typically employers -- have critical obligations under the Employee Retirement Income Security Act of 1974 (ERISA). When acting as fiduciaries, they must act prudently and solely in the interest of plan participants and beneficiaries. This report examined: (1) common 401(k) plan features, which typically have important fiduciary implications, and factors affecting these decisions; (2) challenges sponsors face in fulfilling their fiduciary obligations when overseeing plan operations; and (3) actions labor takes to ensure that sponsors fulfill their fiduciary obligations, and the progress the Dept. of Labor has made on its regulatory initiatives.

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