Fiduciary Governance

Fiduciary Governance

By Fred Barstein4/13/2014 • 0 Comments

The DoL’s expanded fiduciary definition rule could reduce retirement savings by 20 to 40 percent, according to a study commissioned by Davis & Harman LLP on behalf of a coalition of financial services organizations, including banks, insurance companies, brokerage firms and mutual funds that service the retirement industry.  READ MORE

By Fred Barstein4/13/2014 • 0 Comments

While some mid-market and small record keepers have been heralding the equitable allocation of revenue sharing, very few if any micro market providers offer it. But since June 2013, as a new white paper by Fred Reish tells us, Paychex has offered the service to the smallest of plans.  READ MORE

By Craig Hoffman4/11/2014 • 0 Comments

The Department of Labor released its long-promised proposal to require that a guide or summary accompany a covered service provider’s 408(b)2) disclosures on March 11. The final 408(b)(2) regulations, which became effective July 1, 2012, left this question open, with the DOL promising to revisit the issue in the future. Release of the March 11 proposed rule makes good on that promise. READ MORE

By John Iekel4/11/2014 • 0 Comments

“I’m a fiduciary? What does that mean?” Strange as it may seem, there are plenty of plan sponsors who ask that question — more than half of them, in fact, according to Unified Trust Company CEO Dr. Gregory W. Kasten. In an ASPPA webcast, “Breaking Down the Many Fiduciary Roles, Obligations and Service Models,” he offered information to dispel the fog regarding what a fiduciary does and can do.  READ MORE

By John Iekel4/10/2014 • 0 Comments

Plan advisors are well aware that one of their clients’ newest — not to mention most publicized and even controversial — demands is fee disclosure. To meet that demand, some advisors are going a step further. Investment News reports that some advisors are providing fee policy statements in addition to the required information. READ MORE

By John Iekel4/7/2014 • 0 Comments

Sometimes rules are made to be broken — even when they are long-standing and seem rock-solid. The 4 percent rule is one, and “Breaking the 4 Percent Rule,” a recent paper by J.P. Morgan makes the case for that. READ MORE

By John Iekel4/6/2014 • 0 Comments

Is your pension plan fully funded? The answer is relevant to more than individual participants’ accounts, as Bob Collie posits in the Fiduciary Matters Blog. A plan’s funding level also affects how a plan’s assets are allocated and invested, as well as pension de-risking.  READ MORE

By John Iekel4/6/2014 • 0 Comments

Saying that she is troubled by 401(k) providers that are circumventing the 408(b)(2) fee disclosure rule’s demands, EBSA’s Phyllis Borzi warned providers March 11 that they need to do a better job at following the rule’s requirements to provide information that is easy to understand. READ MORE

By John Iekel4/5/2014 • 0 Comments

What do DB benefit plans, DC plans and 403(b) annuity arrangements have in common? Yes, there’s the obvious. But also, they all are retirement plans that must file the dreaded and onerous Form 5500. And for most of them, the clock has begun to tick on filing the form that reports on 2013. READ MORE

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