In the past large defined contribution plans overseen by unsophisticated employees with other corporate duties, without an investment consultant or investment policy statement to guide them, utilizing well-known mutual fund families exclusively (without competitive bidding), failing to monitor best execution, revenue sharing, securities lending, custody arrangements and other issues, was the norm.
FORBES: An Extreme Makeover Due For Defined Contribution Plans: 401(k), 403(b) and 457s All Under Attack (June 1, 2007)