Fred Reish writes a quarterly column for Investment News. This quarter’s article points out that retirement plan committees rely on their advisers to keep them informed of new developments related to 401(k) and 403(b) plans, including advice about risk management. To help advisers fulfill those expectations, this article discusses the
Lessons Learned from Litigation (#2)—the Vanderbilt Case This is the ninth of the series about Best Practices for Plan Sponsors. Plan sponsors should be aware of the latest trends in fiduciary litigation in order to manage the risk of being sued and, if sued, of being liable. In my post,
Senior Clients: The SEC is looking at practices of RIAs I am writing two series of articles that together are called “The Bests.” One is about Best Practices for plan sponsors, while the other is about the Best Interest Standard of Care for advisors. Each series is numbered separately to
What Does “Best Interest” Mean? (Part 1) I am writing two series of articles that together are called “The Bests.” One is about Best Practices for plan sponsors, while the other is about the Best Interest Standard of Care for advisors. Each series is numbered separately to make it easier
Fiduciary Training: The Need for Basics This is the fifth of the series about Best Practices for Plan Sponsors. In three earlier posts—Best Practices for Plan Sponsors #2, #3, and #4—about the Sacerdote v. New York University decision, I discussed the good and the bad of the NYU plan committee and
SEC Best Interests . . . When? And What About the DOL I am writing two series of articles that together are called “The Bests.” One is about Best Practices for plan sponsors, while the other is about the Best Interest Standard of Care for advisors. Each series is numbered
What is the Baseline for A Committee to Act in the Best Interest of Its Participants? (Part 2) This is the third of the series about Best Practices for Plan Sponsors. This is my second article about the case of Sacerdote v. New York University. As I discussed in my last
What is the Baseline for A Committee to Act in the Best Interest of Its Participants? (Part 1) This is the second of the series about Best Practices for Plan Sponsors. The recent decision in the case of Sacerdote v. New York University is a classic story of the good and
Projection of Retirement Income This is the first of the series about Best Practices for Plan Sponsors. “Best Practice” is above and beyond the legal requirements. Best Practices are not mandated; they are elected. While the most obvious Best Practices are automatic enrollment and automatic deferral increases, I want to
The DOL recently issued its final regulation on conflicted investment advice to participants. Unfortunately, the scope of the regulation is not well understood. For example, if an adviser does not have any conflicts (that is, if the adviser cannot vary its revenue or that of any affiliates based on the
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