We have reviewed a number of Yale Law School Professor Ian Ayers' letters to 401(k) plan sponsors, as well as the report of his study. Based on our work for plan sponsors, as well as recordkeepers and other service providers, our conclusion is that plan sponsors should not rely on his letters and study. Instead, they should engage in a prudent process to evaluate the services to their plans and participants, the compensation of service providers, and the costs of those services as well as the costs of the plan's investments.
To read our analysis, please click here. To read our letter accompanying that analysis, please click here.