401(k) Fiduciary Solutions: Expert Guidance for 401(k) Plan Sponsors on How to Effectively and Safely Manage Plan Compliance and Investments by Sharing the Fiduciary Burden with Experienced Professionals

by Christopher Carosa

In an economy that demands focused attention, 401k plan sponsors must concentrate on their business, not its employee benefits. Ironically, this same economic environment provides an ideal opportunity to create a retirement plan that can best help employees retire in comfort. Companies achieving this ideal will find it easier to hire quality employees. How can 401k plan sponsors balance these two opposing forces? The answer most likely lies not within the walls of the company, but in its ability to outsource certain key fiduciary duties to recognized leaders in the fiduciary service industry.

With an exhaustive appendix filled with great resources and useful checklists, 401(k) Fiduciary Solutions covers all 401k compliance issues in a single reference source. It is written for plan managers, sponsors and others with 401k plan fiduciary responsibilities. Smart plan participants may also find the book a helpful source for advice on how to actively monitor plan performance and regulatory compliance.

401(k) Fiduciary Solutions helps readers:


Learn the 5 areas of fiduciary liability.
See a benchmarking template on how to best measure your plan.
Read what issues experts and industry thought leaders say matter most.
Discover how to avoid hiring vendors with hidden conflicts-of-interest.
Recognize what academic research suggests will help employees making good decisions.
Find out what industry pros are doing to create better 401k plans.
Follow an easy-to-implement approach to develop effective plan education.
Here's What Others Are Saying About Christopher Carosa's 401(k) Fiduciary Solutions:

"The collection of material Carosa has compiled in 401(k) Fiduciary Solutions is nothing short of extraordinary. He digs deeply into an expansive set of topics to extract the practical insights diligent fiduciaries can use on a daily basis as they work with their retirement plans."
- Mike Alfred, Co-Founder & CEO BrightScope, Inc.

"Chris provides a treasure trove of practical & invaluable information and insights for plan sponsors and financial advisors to 401K plans. If you wear either of these hats you MUST read this book."
- Harold Evensky, CFP, AIF, President, Evensky & Katz

"Carosa demonstrates a knack for cutting through the clutter of investment, administrative and regulatory issues plan sponsors face to uncover the essence of what the reader needs to know and points to great resources for more information."
- Blaine F. Aikin, CEO, fi360

"What sets this book apart from others I've seen in this space is the thoroughness of Chris's research, the variety of experts interviewed, and the breadth and depth of the topics covered. The book flows seamlessly from expert to expert and topic to topic. If you are a plan sponsor or in any way provide service and advice to plan sponsors this is a must-have book for your library."
- Roger Wohlner, Co-founder Retirement Fiduciary Advisors

"Provocative yet conversational, Carosa's book will terrify plan fiduciaries before guiding them on a simple path out of the darkness."
- Jan Sackley, Fraud Examiner, PI, Fiduciary Consultant Fiduciary Foresight, LLC

"Candid and forthright, Mr. Carosa proves he writes what he knows. The pithy and concise narrative translates the technicalities of the 401k fiduciary area into a relatable expertise."
- Jenny Ivy, Managing Editor BenefitsPro.com

"To craft, as Chris has on a regular basis, information on a complex subject that is readable, timely, and instructive -- as well as occasionally controversial -- is a rare gift."
- Nevin E. Adams, JD Director, Education and External Relations, Employee Benefit Research Institute

"Carosa's work is highly regarded in the retirement community. His new book should serve as an essential reference for any plan sponsor or advisor who aspires to a higher fiduciary standard."
- Kerry Pechter, Editor & publisher Retirement Income Journal

320 pages, Paperback

First published April 20, 2012

About the author

Christopher Carosa was born on the third floor of Mercy Hospital in Buffalo, New York on a hot summer morning in mid-July, 1960. Barely a Kindergartner, he and his younger brother produced a daily newspaper (for just one day, and mainly as an excuse to type on their mother's vintage typewriter). He conducted his first public reading in first grade at the age of six, where he read a story he wrote about "Herbie the Helicopter" (sort of like "the little train that could" except with rotors instead of wheels).

Later, as a teenage rebel who detested all things literature and English class, he once joined with a small band of classmates in tenth grade who refused a class assignment to read a novel and write an analysis of it. The teacher gave each of the renegade students a stern choice: "either do the assignment or write your own novel." While all his friends bowed to their instructor and did the assignment, Mr. Carosa held firm. He wrote his first novel "Armageddon" (a geo-political sci-fi epic set in the not-so-distant future). His teacher gave him an "A" and went so far as to suggest the budding scientist might have a dual career as a writer a la Isaac Asimov.

The young Carosa laughed at the suggestion, but remained a closet author, coming out rarely and when it was least expected. He agreed to serve as treasurer of his high school literary magazine Equinox, but only if the editors agreed to publish his sophomoric send-up of Star Trek. They reluctantly acceded to his demands. He went on to oversee a then record-breaking sale of the flimsy carbon-copy annual, mostly by offering to personally autograph every copy sold ("You never know," he told unsuspecting buyers, "I might be famous some day.")

Despite his best efforts, such as organizing a union of AP English Students (U.A.P.E.S.) and leading a "strike" where the entire class skipped one day, he passed his English classes. He found his antics fared no better in college, where his mocking essays failed to incite the professor, who instead enjoyed them for their "change of pace."

Now a full-fledged adult, Carosa began writing in earnest the last few weeks of his college career. With hours of computer time left in his account and his senior thesis complete, he spent his remaining time using an archaic word processor to create entertaining tidbits for his friends.

And that was it.

The author within him went into hiding. He still wrote, but no one knew. He accumulated pages and pages, then floppy disks and floppy disks and then finally hard drives full of creative content. Some of it will never see the light of day (and probably shouldn't). Some of it you see here and will continue to see.

Reviews

[Paul Young · Rating 2 out of 5]

Probably an unfair rating. Bought this in 2020 after taking responsibility for my company's 401k plan, without realizing it was published in 2012. I gave it a good read, picked up a few things, but of course, much of it seemed way out of date. My bad for not checking on that before purchase.

[Tom Gartner · Rating 4 out of 5]

Lots of great info, easy to digest format.