Sponsors of 401(k) plans are not required to form an investment committee under the Employee Retirement Income Security Act, which explains why so many plans—even large ones—operate without one.
That’s a dangerous proposition, according to Jason Roberts, an ERISA attorney and CEO of the Pension Resource Institute.
Roberts travels the country advising plan sponsors and plan advisors on how to not run afoul of their fiduciary obligations under ERISA.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
