Why 401(k) Plan Sponsors Should Periodically Fire Their Vendors (Or At Least Threaten To)

One of the most common mistakes I see from plan sponsors is vendor inertia. A recordkeeper, advisor, or third-party administrator gets hired when the plan is first established, everyone is happy for a few years, and then the relationship quietly continues for a decade or two without much scrutiny. It’s comfortable. It’s easy. And sometimes it’s a mistake. Retirement plans aren’t static arrangements. They evolve, regulations change, service models shift, and pricing structures that once seemed... By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.