If you think the web of fiduciary duties is complex in a 401k plan that focuses on getting employees to save for retirement, imagine how much more intricate it becomes if the plan also has to cater to retired employees.
Posts From Christopher Carosa, CTFA
Happy Columbus Day! Set sail for fiduciary lands far away as regulators threaten to rock the boat. But be careful or else you might fall off the edge!
It’s not a simple matter of flipping a switch and allowing cryptocurrencies in plans. Because these are alternative investments, the plan sponsor will need to learn enough about them to make an informed decision.
Justice delayed, justice demanded, and justice delimited.
Fad topics come and go be a certain set of 401k concerns remain the same. What are they and why do they motivate plan sponsors?
Compliance hodgepodge, faux fiduciary surprise, and the fee song remains the same.
“Perhaps the continued confusion can be expected given that the term ‘best interest’ is not defined in Reg BI and the word ‘fiduciary’ is not used in defining the new standard. It makes it harder to understand.”
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In a nutshell, what was initially considered a “pick me because you like me” decision on the part of the prospect has been reframed as a “pick me because I sold you investments” decision. It’s a subtle distinction, but it drives the difference between a fiduciary act and a non-fiduciary act.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 10/15/21
Inflation’s upside, acronym’s rule, and it’s easy being green.