401k plan documentation- 2 case studies

A recent court decision about the importance of documenting plan decisions bear review.  In George vs Kraft Foods Global, Inc, the appeals court found that while it appeared that the plan sponsor may have made decisions related to certain transactions, that they failed to document those decisions. 

In the same case, the court found that – not having periodically solicited comeptive bids (since 1995!) on their services, and that they may have been paying excessive fees.

For an indepth review of this case, go to http://icemiller.com/publications/Employee_Benefits/2012/01-24_Case_Summaries.htm