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Pensions, Retirement and Markets: Five Questions for 2020

…versus external risk factors such as tariffs, slowing global economies, Brexit, oil prices and geopolitical tensions. 3. Where are regulations around fiduciary standards headed? In 2018, the move toward a uniform fiduciary standard for brokers and advisors was disrupted when the Department of Labor (DOL)…

Understanding the Scope of Responsibilities as a Retirement Plan Committee Member

…losses resulting from fiduciary breaches. Having a plan committee charter may help mitigate fiduciary liability for the committee members by carefully outlining the members’ roles and responsibilities. Further, having an ERISA 3(16) Fiduciary Administrator may also help to reduce fiduciary liability risk for a retirement…

Fumbling the Fiduciary Ball

…the emails my company sent with the required notices and delivery instructions … but he assumed we were handling them. We were not.” The lesson here should be self-evident: If in doubt, re-read your plan document – or at least consult with your 3(16) fiduciary….

Five Key Concerns for Retirement Plans in 2020

…As retirement plan providers and advisor-partners, it is incumbent upon our industry to remind plan sponsors of these responsibilities. In some cases, outsourcing these fiduciary responsibilities might be an even better solution. Distraction. This can be a significant contributing factor to litigation. As a recent…

The Fiduciary Standards Conversation is Just Beginning

…the game is afoot. For a discussion of current fiduciary law and the country’s options with respect to standards of care, see my paper “Blueprint for a Universal Fiduciary Standard of Care in the U.S. Financial Services Industry,” published in the New York University Review…

Administering Your Own Plan: What Could Possibly Go Wrong?

…working in the field, one that offers fiduciary outsourcing and 3(16) administrative services. An independent ERISA Section 3(16) fiduciary relieves an employer of nearly all fiduciary liabilities for their plan. Why is it important to use a 3(16) administrative fiduciary for your plan? Because of…

Pensions, Retirement & Markets: 5 Questions for 2019

…a uniform fiduciary standard for brokers and advisors was disrupted when the Department of Labor (DOL) fiduciary standard, also known officially as the “Conflict of Interest” rule, was repealed by a Federal court. Into this vacuum stepped several parties: (a) the Securities and Exchange Commission…

DOL Considers Changes To Fiduciary Rules

…which streamlined exemptions are not available? Should the exception to fiduciary status for recommendations to institutional fiduciaries (e.g., banks and RIAs managing $50 million or more) be expanded? The time-frame for response is tight: just fifteen days to answer the first question about extending the…

Should a Plan Have an Investment Policy Statement?

…in developing effective retirement income strategies. An individual IPS should be developed with the help of a financial professional. Plan sponsors may even wish to consider offering such a service through a unique type of ERISA fiduciary professional, the 408(g) fiduciary adviser. The bottom line…

Fixing What Others Fear

…percentage of 401(k) plan sponsors outsource many of the day-to-day administrative duties to a 3(16) fiduciary services provider. An ERISA Section 3(16) fiduciary is a person or entity that takes on the responsibilities and shared liability for administrating a retirement plan. A 3(16) fiduciary can…

Fiduciary Best Practices for Plan Sponsors

…can face penalties and personal liability for plan losses. Attend this course to understand fiduciary responsibilities and liabilities, how to identify the different types of plan fiduciaries and implement fiduciary liability reduction strategies and tactics. *Disclaimer: This recording is not eligible for Continuing Education Credits…