Over the past few days, I have had various meetings with a number of very good benefit professionals to discuss the state of the union (at least as it relates to employee benefit packages).
Whether they were health or retirement plan service providers, or even legal counsel, we all seemed to agree that we may have reached the tipping point where rules and regulations have finally overwhelmed plan sponsors. It is now almost impossible for an employer to keep track of all the changes and necessary forms, notices and revisions required for complete plan administration on an entirely “in-house” basis. On the other hand, when the economy is tight, employers are loath to spend the money.
