Join the 401(k)ouple as we explore the ins and outs of 401(k) plans, share insights from industry experts, and break down complex topics surrounding the retirement industry. In this episode, we talk to our guest, Eric Dyson, about fiduciary responsibility and being an expert witness. These 5 fiduciary shortcomings were told to Christopher by Eric. As such, they are his understanding of the concepts. They are in no particular order:

1. Not fully understanding how revenue sharing is used in a plan and how it affects fund costs.

2. Not understanding that they can't fully delegate their responsibilities and that the service providers need to be monitored.

3. The committee meeting minutes are too cursory. They do not demonstrate "loyalty and prudence."

4. A "Committee of One" - the rest of the committee does not challenge t ...