The mutual fund and insurance companies that marketed to these plans failed to realize that the products they designed to be sold to defined contribution plans had to meet higher applicable fiduciary standards.

FORBES: An Extreme Makeover Due For Defined Contribution Plans: 401(k), 403(b) and 457s All Under Attack (June 1, 2007)

Today the focus is upon sponsors of defined contribution plans that have not diligently fulfilled their fiduciary duties regarding conflicts of interest, excessive costs, abusive practices and investment performance related to management of these plans.

FORBES: An Extreme Makeover Due For Defined Contribution Plans: 401(k), 403(b) and 457s All Under Attack (June 1, 2007)