Outsourcing Employee Benefit Plan Services

This document is the ERISA Advisory Council's report to the Secretary of Labor on the outsourcing of employee benefit plan services. It covers current outsourcing practices, the legal framework under ERISA, the duty to select and monitor service providers, the use of multiple employer plans, and insurance/bonding considerations. The report provides recommendations for the Department of Labor to educate plan sponsors, clarify the legal framework, provide additional guidance, facilitate multiple employer plans, and update guidance on insurance and bonding.