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Tag Archives: Fiduciary Best Practices
Congressman Says 401(k) Participants Need Independent Advice
According to this article in InvestmentNews, Rep. Robert Andrews, D-N.J. spoke earlier today at a Barclays Global Investors event in New York and said believes that 401(k) system would be strengthened by providing participants with with independent investment advice.
Fiduciary Process is Lacking
Here’s a good article about a recent study that was conducted by Drinker Biddle & Reath, Grant Thornton LLP, and Plan Sponsor Advisors.
Uncovering Conflicts When Hiring A Retirement Plan Advisor
As described in my email interview with Fred Reish, one of the biggest problems plan fiduciaries often encounter is identifying or uncovering conflicts of interest that may cloud the objectivity of their service providers.
It Can’t Happen To Me, Right?
Here’s a recent press release from the Department of Labor website. The president (and fiduciary) of a Michigan company, Dr. James Johnson, is being sued by the DoL for failing to remit employee contributions to the company’s plan in a reasonable time frame.
Ignorance Is NOT Bliss: The Sad State of 401(k) Fee Disclosure (And What You Can Do About It)
Generally speaking, the economics of retirement plans is screwed up and has been for years. Despite the fact that just about every 401(k) provider I now meet claims to have been a long-time proponent of full disclosure, the retirement plan industry has really fallen short of providing clear and easy-to-understand information.