Fees, Funds and Fiduciaries – Cheaper is Not Always Better

The scrutiny of fees within retirement plans has reached a fever pitch and shows no signs of abating. The endless stream of lawsuits accusing plan fiduciaries and service providers of charging excessive fees, of all types, has fostered a heighted sense of anxiety amongst plan sponsors and advisors. Understanding plan expenses in relation to services provided and paying only reasonable costs is of the utmost … Continue reading Fees, Funds and Fiduciaries – Cheaper is Not Always Better

ERISA Update

At a recent Western Pension Benefit Council/ASPPA Conference the new Fiduciary Rule was reviewed. The new Fiduciary Rule (definition) has come under significant criticism by many industry groups and Congress, some of whom brought litigation to redefine and suspend the effect of this regulation. To date, the DOL shows no intent to revise their position substantially. They indicate that the new rule is structured solely … Continue reading ERISA Update

Fiduciary, ERISA

Qualified Plan Governance: Is Your Fiduciary House in Order?

As we enter the New Year, many qualified retirement plan sponsors use this time as an opportunity to examine current fiduciary structure and processes to ensure all is in order. Whether or not your organization’s retirement plans have been recently audited by the Department of Labor and/or Internal Revenue Service, it is advisable to be sure your plans will hold up under such audit and/or … Continue reading Qualified Plan Governance: Is Your Fiduciary House in Order?

New Year's Resolutions, Retirement Plan Fiduciaries, Financial Wellness, Service Providers, Prohibited Transactions,

Top Five New Year’s Resolutions for Retirement Plan Fiduciaries

We always hear the same resolutions when the new year rolls in: lose weight, get organized, travel more, etc. Resolutions for fiduciaries are not something you read about every day, which is why we are bringing you the top five resolutions to become a better plan fiduciary in 2016. Providing Information in Participant-Directed Plans.¹ When plans allow participants to direct their investments, fiduciaries need to … Continue reading Top Five New Year’s Resolutions for Retirement Plan Fiduciaries

3(16), ERISA, Fiduciary

3(16) ERISA Fiduciary Definition

Recently there has been an emergence of entities offering to provide ERISA Section 3(16) services. Plan sponsors may be interested in divesting themselves of Section 3(16) plan administrator responsibilities and there are questions regarding this concept and its perceived desirability. The unfortunate reality is that the advertisements, marketing material and articles (often written by interested parties who sell these services) are often quite misleading and … Continue reading 3(16) ERISA Fiduciary Definition

Company Stock, Fiduciary, Litigation

Company Stock and Fiduciary Considerations

In recent years, there has been a substantial increase in litigation involving retirement plans that have invested in the stock of their sponsoring company. The only definitive way for plan fiduciaries to avoid liability with respect to plan investments in employer stock is to avoid such investments altogether. Nevertheless, many employers, believing that employer stock is beneficial to their plans, continue to maintain it as … Continue reading Company Stock and Fiduciary Considerations