Case study: Engaging employers to comply with fiduciary duties By Katherine Smith | 28 February 2017 The challenge A Milliman client has been growing very aggressively through various business acquisitions in the last decade. Both plan assets and participant counts have quadrupled with the most recent growth in the last couple years. The client’s 401(k) plan service fee schedules have remained unchanged during that period. Milliman engaged the client to conduct a comprehensive fiduciary review. The primary objectives were to assess the reasonableness of fees incurred by the plan and support the plan’s fiduciary needs on an ongoing basis. The process Milliman identified and consulted with the company on three specific areas in which the plan administration and governance could be made more

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