by admin | Apr 11, 2016 | Institutions, Opinions, Plan Sponsors
ERISA has always required a fiduciary to serve “solely” in the best interest of the plan participants and beneficiaries. There is nothing new about this requirement. Since the fiduciary standard is a principal- rather than rule-based law, the essence of a...
by admin | Apr 11, 2016 | Institutions, Opinions, Plan Sponsors
On April 6, 2016, the U.S. Department of Labor (“DOL”) issued the final rule1 re-defining the term “Fiduciary” under the Employee Retirement Income Security Act of 1974 (“ERISA”) and finalized the Conflict of Interest Rule...
by admin | Mar 18, 2016 | Individuals, Institutions, Opinions, Plan Sponsors
So much has been said and fought over the U.S. Department of Labor’s (DOL) proposed expansion of fiduciary duty to advisers and their institutions since first proposed in 2010. It has been an ongoing battle between the financial self-interest of the industry...
by admin | Apr 7, 2014 | Company News, Individuals, Institutions, Opinions, Plan Sponsors
As a participant in the Putnam Investment’s 15th annual Research Analyst Meeting in Boston last week, I was privileged to be in the audience during Captain Richard Phillips’ keynote speech. Captain Phillips, a graduate of the Massachusetts Maritime Academy, was...
by admin | Mar 5, 2014 | Opinions, Plan Sponsors, Regulations
Using revenue generated from investment vehicles to offset retirement expenses is a fiduciary decision, and far too many plan sponsors are not aware of the decision being made on their behalf. Unsuspecting plan sponsors believe that their retirement plan is “free”...