Every office has someone who becomes the person everybody asks for help. They know where the forms are, whom to call, and how to get things done.
That doesn’t mean they should become your retirement plan’s unofficial financial advisor.
An employee asks whether to take a loan. Another asks which investment to select. Someone leaving the company wants to know whether to roll over their account or take the money.
Your office manager wants to be helpful, so they offer an opinion.
Now a conversation that started with finding a form has turned into advice about someone’s retirement savings.
Plan sponsors need to recognize the difference between helping employees navigate the process and expecting staff to answer questions beyond their experience.
Your office manager can explain where to find account information, how to contact the recordkeeper, or where to submit a request. Investment choices and personal tax consequences require appropriate professional assistance.
“I’ll connect you with someone who can answer that” is a perfectly good response.
Give employees a clear list of contacts. Identify who handles account access, distribution processing, plan provisions, and investment assistance. Make sure those contacts actually respond.
Otherwise, employees will keep returning to the person down the hall because that person is available.
You should also ask your providers what participant support is included in their services. If you’re paying for assistance, employees should know how to use it.
Don’t leave your office manager feeling that being helpful requires answering every question. Give them permission to refer questions and a reliable process for doing so.
Retirement decisions can have lasting consequences. A friendly guess isn’t enough.
Your office manager already has a job. Turning them into the retirement plan help desk without training, support, or boundaries is unfair to them and the employees relying on them.