Senior executives are getting hands-on when it comes to their company’s employee benefit plans.
In a recent survey of 125 employers by Cowden Associates, a Pittsburgh-based consulting and actuarial firm, 94% of respondents indicated their senior executives are involved in the investment decision-making process regarding employee 401(k) plans, up from 30% in 2007.
While improvements are being made in defined-contribution plan management, problem areas still exist. One-quarter of survey respondents reported not having an investment policy statement, which provides general investment goals and objectives of a retirement plan.
Source: Tri-State Defined Contribution Plan Sponsor Survey, Cowden Associates Inc., www.cowdenassociates.com.