We have all heard the term "the devil is in the details" and this applies to all community pharmacy retirement plans. These details are intricate (and often written in the small print) and having a basic understanding of them is important. These include, plan design, plan fees, service providers, fiduciary responsibility, etc.
You are a plan fiduciary on your company retirement plan. This means that one of your primary responsibilities is to have a basic understanding of how your plan works and how your employees use the plan to achieve there personal retirement goals. You are allowed to hire outside experts to assist with this but this doesn't mean you are absolved from all responsibility.
You should have an annual meeting with your hired experts to review how the plan works and to discuss with them the level of service required to help your employees use the plan the most effective way. Many owners we discuss this with say they do not know this is part of their fiduciary requirement.
To summarize, you should understand your fiduciary responsibility and the level of service that is required for your employees. You should also have advisors (experts) that understand and can help you with this.