The Top Five 401(k) Fiduciary Pitfalls and How to Avoid Them
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San Francisco, California (PRWEB) July 8, 2009
The Advisory Group of San Francisco, LLC, experts in providing objective financial guidance for private clients and 401(k) plans/institutions, has published a white paper for 401(k) fiduciaries that describes the common pitfalls encountered by plan sponsors and how to avoid them.
The first in the new Insight Series from The Advisory Group, "The Top Five 401(k) Fiduciary Pitfalls and How to Avoid Them" is based on the firm's nearly 20 years of experience in working with clients. The paper has been provided to inform fiduciaries, plan sponsors and members of 401(k) committees. Overcoming the common hurdles can make the difference between an effective plan that improves employee results, morale and productivity, and an ineffective and liability-ridden plan. Informed fiduciaries can avoid these pitfalls with planning and proper guidance.
"As a plan fiduciary or a member of a committee overseeing your 401(k) program, you have a legal obligation to design an effective plan, fully understand and monitor your plan and present it to participants in total truth and good faith," said Gregory Patterson, CEO of The Advisory Group. "This is a serious responsibility that can be difficult to fulfill without proper guidance. In our paper, we describe five of the most common pitfalls that we have observed in our nearly twenty years of experience--and how to avoid them."
A copy of "The Top Five 401(k) Fiduciary Pitfalls and How to Avoid Them" can be downloaded from the following website location: http://www.AdvisoryGroup.net/pitfalls.
About The Advisory Group of San Francisco, LLC.
The Advisory Group of San Francisco, LLC has helped companies with mid-sized ($5 to 300 million) 401(k) plans to build top-tier, institutional-quality 401(k) structures for nearly 20 years. The firm's experience and deep resources can improve participant results and help fiduciaries successfully navigate fiduciary responsibility. The Advisory Group's team of unbiased experts brings the knowledge and competence to help clients develop the right 401(k) program, cost-effectively with no hidden costs or fees. Learn more at http://www.AdvisoryGroupSF.com.
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