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Will Your Company be Among the Many Planning to Scrutinize Retirement Plan Governance?

A recent survey of 245 U.S. employers conducted by Towers Watson revealed that four out of 10 U.S. employers expect to spend more time governing their employer-sponsored retirement plans over the next two years.

The majority who plan on spending more time administering their plan are doing so because of increasing regulatory complexity, recent court cases that may subject plan sponsors to greater liability,  and market volatility.  In response to the risk associated with these challenges, many plan sponsors will spend more time and resources on governance issues. While survey respondents are concerned with compliance, only 26 percent currently regularly review compliance. Regular compliance reviews can be a good starting point to identifying areas for improved retirement plan governance as well as incorporating sound fiduciary practices.  

Towers Watson will publish the in-depth results shortly.  If you have questions about retirement plan governance or regular compliance reviews, please contact the Bingham Greenebaum Doll Labor and Employment Practice Group.



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