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Retirement Planning > Retirement Investing

Compliance, Fiduciary Oversight Are Key for Retirement Plan Sponsors in 2012: Mesirow

By Michael S. Fischer

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Regulatory compliance and fiduciary oversight are high on the agendas of retirement plan sponsors and outsourcing providers this year. On Monday, Mesirow Financial Retirement Plan Advisory practice weighed in with the results of its second annual survey of plan sponsors.

The 2012 Retirement Plan Survey Report, involving 100 plan sponsors, addresses plan design, fiduciary oversight options, employee education and fee disclosure requirements.

Mesirow researchers found general satisfaction with the different planning tools and options providers offer to meet the educational requirements and other needs of both sponsors and participants, with 76% of respondents saying they were satisfied and 14% saying they were very satisfied.

Implementing fee disclosure will be a key concern this year. The survey found that 91% of responding plan sponsors appeared satisfied so far with fee disclosure communications their providers had given them.

Other key findings in the report include the following:

  • About half of plan sponsors surveyed offer automatic enrollment features, and one-third include a step-up deferral rate option.
  • Target-date funds continue to be a major investment solution, with 72% of respondents offering TDFs.
  • More than two-thirds of employers responding fail to take advantage of nonqualified deferred compensation plans.
  • Thirty-four percent of plan sponsors do not know what type of fiduciary their plan sponsor is—or if the sponsor is a fiduciary at all.

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