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Tag "401k"

5 Things the Fiduciary Might Not Know About the 401k Plan Investment Policy Statement

Does creating an Investment Policy Statement (IPS) reduce fiduciary liability or augment it? Though there’s no clear agreement on this matter, the DOL has long maintained it has greater concern for processes than outcomes. Benefits attorneys often view memorializing the process through an IPS and documenting its successful implementation as the surest way to reduce fiduciary liability.

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For the 401k Fiduciary Looking to Reduce Fiduciary Liability: Who Is and Who Isn’t a Registered Investment Adviser?

The 401k fiduciary typically searches for ways to reduce fiduciary liability. This can be done by hiring what the United States Department of Labor (DOL) terms “prudent experts,” particularly in the area of investments. The DOL permits a fiduciary to appoint, among others, a registered investment adviser to reduce personal fiduciary liability.

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Everything an ERISA/401k Fiduciary Needs to Know About DOL Audits to Reduce Fiduciary Liability

What most often triggers a DOL audit? What liability exposure does the ERISA/401k fiduciary typically face as a result of a DOL audit? Can a retirement plan fiduciary face criminal charges? What does the DOL auditor expect from the ERISA/401k fiduciary? What are the four critical keys the plan fiduciary should focus on during a DOL audit? Does the DOL have an ideal “Wish List of Materials” they expect an ERISA/401k fiduciary to provide them during a DOL audit?

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5 Critical Components of a Plan Diagnostic Test

Conducting a periodic plan diagnostic test is often seen as an easy way for the typical 401k fiduciary to reduce fiduciary liability. An ERISA plan trustee or fiduciary will usually hire an independent fiduciary consultant to conduct a comprehensive plan fiduciary diagnostic test. Here are five critical areas to consider.

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Never Buy a Bond Mutual Fund Thinking it’s a Bond

Don’t ever buy a bond fund thinking you are diversifying into fixed-income assets. A bond fund more closely approximates an income-oriented equity fund than it does a fixed-income asset.

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Is Supreme Court About to Mislead 401k Investors & Fiduciaries?

The Supreme Court will raise the visibility of the fee structure within the investments of nearly half of all 401k plan assets. Just because the powers that be say it’s so, doesn’t necessary mean your average fiduciary can rely on the decree. Indeed, the Supreme Court of the United States appears poised rule in favor of mutual fund shareholders, yet, at the same time, mislead both 401k investors and fiduciaries.

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The 7 Most Critical Action Steps 401k Fiduciaries Must Address Right Now

Are you a 401k fiduciary looking for ways to reduce your personal fiduciary liability? The US Department of Labor doesn’t expect the ERISA fiduciary to always produce favorable outcomes for retirement plan beneficiaries. Rather, the DOL expects the 401k fiduciary to carefully document and prudently execute all aspects of the retirement plan. Here are seven critical action steps.

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