The breadth and complexity of effectively meeting these obligations is the main reason that the vast majority of plans outsource some or all of these responsibilities. It is important to note that fiduciaries can never eliminate 100% of the liability. The act of selecting a third party is a fiduciary duty. However, if a rational and documented process was used in the selection, most of those concerns are eliminated regardless of performance.
As one can infer, meeting their fiduciary duty is more easily achieved through documented, rational, ethical and careful execution of their fiduciary decisions and duties and acting exclusively for the benefit of the plan participants and their beneficiaries.