Trying To Understand A Plan Sponsor's Irrational Decisions Isn't Easy.
It's hard to make sense of irrational decisions, but here is a starter.
As retirement plan providers, we know that it's very hard to recruit new plan sponsor clients. Getting the attention of a plan sponsor is hard because many aren't interested in their fiduciary responsibility. Even after getting the attention of a plan sponsor, it's often difficult to get hired even if the current plan providers aren't very good or are just charging too much for too little service. The problem is that as quality plan providers, we only see things from our perspective and quite honestly, it's too blinding. This article is trying to make you see and understand that with a plan sponsor's decision making, there is more to the story on why plan sponsor may act irrationally in the providers they keep....
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