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DC plan sponsors address mutual fund scandals: Prompt, forthright communication key to...

By Anderson, Tom
Publication: Employee Benefit News
Date: Thursday, July 1 2004

Every time you turn around, there's another mutual fund settlement grabbing headlines. Government officials are pushing for new regulations and class-action lawsuits. Plan providers are doing damage control. Employees are confused. And plan sponsors are stuck in the middle.

"Employers have a fiduciary obligation to communicate with their plan participants about mutual fund scandal," says Ann Mahrdt, a director at Spectrem Group, a Chicago-based consulting firm that focuses on the financial service industry.

Spectrem recently studied the attitudes of 401(k) p

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