Just like employees are known for their set it and forget it attitude, many employers have gotten complacent about their defined contribution retirement plans. If there are no problems with their current plan, many just leave it alone and never go back and take a bigger picture look at what they are offering.
But with still- recent fee disclosure rules in place and talk of a new fiduciary definition being batted around, employers have had to become savvy when it comes to the management of their retirement plans. There also have been a number of class action lawsuits regarding high plan fees and fiduciary responsibility, including the recent Tibble v. Edison International case, which the Supreme Court heard at the end of February.
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