What Does Best Interest Mean . . . In the Real World? (Part 4) 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
What is the Baseline for A Committee to Act in the Best Interest of its Participants? (Part 3) This is the fourth of the series about Best Practices for Plan Sponsors. In my last two posts (Best Practices for Plan Sponsors #2 and Best Practices for Plan Sponsors #3), I discuss
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
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
What Does the 5th Circuit Decision Mean for Rollover Recommendations? This is my 84th article about interesting observations concerning the Department of Labor’s (DOL) fiduciary rule and exemptions. These articles also cover the DOL’s FAQs interpreting the regulation and exemptions and related developments in the securities laws. The 5th Circuit
Recordkeeper Investment Support for Plan Sponsors This is my 73rd article about interesting observations concerning the Department of Labor’s (DOL’) fiduciary rule and exemptions. These articles also cover the DOL’s FAQs interpreting the regulation and exemptions and related developments in the securities laws. In Angles article #70, I discussed three
Advice to Advisors: The “Wholesaler” Exception This is my 72nd article about interesting observations concerning the Department of Labor’s (DOL) fiduciary rule and exemptions. These articles also cover the DOL’s FAQs interpreting the regulation and exemptions and related developments in the securities laws. In my Angles post #70, I discussed
The Fiduciary Rule and Recordkeeper Services This is my 70th article about interesting observations concerning the Department of Labor’s (DOL) fiduciary rule and exemptions. These articles also cover the DOL’s FAQs interpreting the regulation and exemptions and related developments in the securities laws. Almost all of my Angles articles have
This is my eighth article about interesting observations “hidden” in the fiduciary regulation and the exemptions. The final regulation on fiduciary advice continues, as education, the current practice of providing participants with asset allocation models that are populated with a plan’s designated investment alternatives (DIAs). However, the rule imposes a
A reporter recently asked me to explain why people are saying that, under the DOL’s fiduciary proposal, an adviser should not recommend that a participant take a distribution and roll over to an IRA, but instead should provide distribution education. Here’s my answer: There are two issues. The first is
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