Is Fiduciary Oversight In Retirement Plans MIA?

Grant Thornton has published Retirement Plan Survey 2011, and it holds a number of intriguing factoids. Here’s one:
How often is fiduciary training provided to the administrative/investment committee for your plan (other than by your record keeper)?
Never… 23%
Very infrequently and with no set pattern… 41%
Annually… 24%
When new members are added… 12%
In turn, the study advises: “In light of the many new developments annually impacting internal plan fiduciaries, we recommend more frequent (and regular) fiduciary training. The best practice is to provide fiduciary training every year, as well as legal updates as new developments occur.”