PLANSPONSOR - June/July 2020 - 2

INSIGHTS
Lessons From
The Archives
I
recently had the opportunity to spend time in our
magazine archives, revisiting PLANSPONSOR
issues from 1993 through the present. And while it
was fun to see how our design, paper stock and fonts had
changed with the times, something that struck me was
what hadn't changed in as stark a way.
Many of the cover stories dealt with topics we could,
and do, write about today. It's not that we cover the same
ground per se-it's that many of the same types of challenges
continue to exist: regulatory changes, fiduciary
responsibilities, picking the right investments, litigation risk, examining participant
services, and the list goes on. Even the chaos of the pandemic doesn't change
the importance of these things.
Of course, the products and services of the industry have changed over
that time: the advent of target-date funds (TDFs); the evolution of recordkeeping
systems; the movement toward investment advice and then to overall financial
education. But, for you plan sponsors, there will probably never be a silver bullet for
getting your employees to retirement-or financial independence, as we now often
reframe it-or one to protect you from litigation or regulatory issues.
It would be much simpler to be able to say, " Do X, and Y will happen. " For
sponsors wanting to limit liability, there are, of course, many fiduciary outsourcing
opportunities that would allow them to lean on outside firms for 3(16), 3(21) or
3(38) support. Some things have changed in that area-I noticed that, years ago,
we talked a great deal about Employee Retirement Income Security Act (ERISA)
Section 404(c) and how to be in compliance. Our writers don't really discuss that
much now. Instead, we spend time describing the various outsourcing opportunities,
to be a resource if you're weighing hiring a fiduciary service provider.
Seeing the issue covers from almost 30 years back, and having personally
watched the retirement industry change as a staff member at PLANSPONSOR for
17 years, I'm reminded that your job, and therefore ours, is never done. These same
topics endure because ERISA's fiduciary responsibilities are significant, and the
work you do is meaningful, though it is the kind of work that's often underappreciated
and takes years-or decades-to see any payoff.
There will always be more innovative strategies, and we'll continue to support
all of you in your endeavors to offer superior employer benefits programs to your
employees and to aid them in their quest for financial security. We know the
topics we cover help you with retirement plan management and administration,
as well as your various ancillary programs, such as financial wellness and health
benefits programs.
We thank you for continuing to count on us at PLANSPONSOR to assist you in
managing these great responsibilities. With everything else going on in the nation
and the world, the retirement plan may not be top of mind for you, but it will remain
top of mind for us. We're always here with answers. -Alison Cooke Mintzer, Publisher
2 PLANSPONSOR.COM June - July 2020
PUBLISHER: Alison Cooke Mintzer
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CREATIVE DIRECTOR: SooJin Chun Buzelli
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MANAGING EDITOR, PLANSPONSOR.com:
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EDITORIAL STAFF: Lee Barney, John Manganaro,
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SURVEYS AND RESEARCH: Brian O'Keefe;
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DESIGN AND PRODUCTION: Donna Bien-Aimé,
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ART CONTRIBUTORS: Wesley Allsbrook, Melinda
Beck, Juliette Borda, Chris Buzelli, Qian Chen, Joe
Ciardiello, Katie Hicks, Red Nose Studio, Mark
Wang, Jing Wei (cover)
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PLANSPONSOR (ISSN 1077-1816) is published six
times per year by Institutional Shareholder Services
Inc. (ISS). Periodicals postage paid at Stamford, CT,
and at additional mailing offices.
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