Management is in a perennial expense-reduction battle. The battle will always start with cutbacks in the employee base so long as management believes that people are an expense. But the inescapable fact is that they will never get it right so long as they believe in their hearts that human capital, unlike other assets, cannot be managed for value. No one hires an employee primarily because they want to spend money, right? They expect that for every dollar they spend on pay and benefits they are getting back more than a dollar in profit. If this does not happen the result is called: bankruptcy. So, since most companies are not bankrupt, it must follow that people are actually returning more than a dollar for each dollar invested in them. Offering employee benefit plans was once considered a company “perk” immune from anything other than the employee’s appreciation. However, as employees began to take their company group health, disability, life, and retirement plans for granted, the expectations outweighed their appreciation. When economic times were tight employers cut back on benefits, under-funded retirement plans, an

• Overspending or duplicating coverages.

ERISA has imposed the title of “fiduciary” on those individuals who are responsible for managing the plan and investing its assets. The fiduciary of an employee benefit plan is any one of the following:

• Gaping holes in their overall financial plan.

• Sponsor financial education workshops.

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