Written by Cindy Sandomenico and Laura Zindel.
WHY PLAN SPONSORS SHOULD READ THEIR SERVICE PROVIDERS’ SOC REPORTS
When a plan sponsor hires a service provider, that organization and its professionals become part of the team operating the client’s retirement plan. Each member of the team is expected to perform a specific task according to what is prescribed in the plan document. But how do you know whether each service provider has effective systems and controls in place to ensure...