Two Takeaways from Fidelity’s Court Battle
For Fidelity Investments, the reversing of Tussey v. ABB (in which Fidelity was originally accused of excessive 401(k) fees) is undeniably a win in the short term for Fidelity. But what has this landmark case taught us about the Department of Labor’s interpretation...Unraveling an ERISA 3(16) Plan Administrator’s Duties
Talking Points About the 3(16) Role: Key Facts You Want to Know With the ever-changing responsibilities of the retirement plan management role (including those associated with the most recent fee disclosure rules), plan sponsors and their advisors have been asking:...The “Fiduciary” Fad: Can Anyone Be a Fiduciary?
With increased regulatory pressure from the Department of Labor, and seemingly ever-growing responsibilities for retirement plan sponsors, it’s no wonder that “turnkey” fiduciary solutions are popping up everywhere. But what risks do these newfangled “fiduciaries”...“Starter Plan” or Non-Starter Idea: Obama’s “MyRA” Proposal
In President Barack Obama’s State of the Union Address on Tuesday night, he introduced a proposed “MyRA” retirement savings account that would invest in government bonds, providing a “starter plan” for workers who do not have access to a 401(k) plan. Once workers’...The Gold Standard
Last week, a blog post entitled, “Are 3(16) Plan Administrator Arrangements a Sham?” delineated the difference between a selective 3(16) service provider (who absorbs only a small amount of plan sponsor responsibility) and a full-service 3(16) provider (who agrees to...Contact us…
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