After close to 30 years in this business—wearing the hats of TPA employee, ERISA attorney, plan document drafter, and occasional therapist to frantic plan sponsors—I’ve seen it all. The horror stories, the lawsuits, the missed deferral opportunities, and more poor fund lineups than I can count. But if there’s a recurring theme in this industry, it’s that too many plan sponsors are completely asleep at the wheel. They want the best for their employees, sure. But then they get cheap, they get controlling, and worst of all, they get complacent. That trifecta isn’t just bad for business—it’s a roadmap to fiduciary liability and potential disaster. Let’s call it what it is: negligence in slow motion.
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