According to a recent analysis of 50,000 listed employer retirement plans in Texas by Abernathy Daley, an estimated 80% of plan sponsors are overpaying for their plans due to not conducting benchmarking analyses in at least three years, signaling that widespread, avoidable overpayments on plans have become the norm for large employers across the U.S.

In fact, overpaying on the fees charged for the investments available to employees in their corporate retirement plans creates an avoidable risk for corporate plan sponsors as it is a direct violation of their fiduciary responsibility and could become the source of a legal assault.

This is a major oversight that can lead to outdated plans and high-cost investments, which delay retirement for workers and present legal risks for companies by violating fiduciary responsibilities. However, the reality is that many employers may not be fully aware of the steps they could take to better protect their business and their employees.