The DOL’s new requirements offer some good and some bad news. The question is do the benefits of the good offset the dangers of the bad? Discover both in this article.
Compliance
Here’s your chance to see a real example of the new DOL 401k Disclosure Rule in practice. Complete with links to vital DOL documents.
It’s not like folks hid their Target Date Fund gripes. The question is: Was the DOL on target with its new disclosure rules?
We’ll show you the raw data first, then provide our analysis – and an important caveat.
The current economic setting only heightens fiduciary liability. Last year, the DOL logged more than 4.5 corrected violations per business day. With aggressive litigators using technology to sniff out these violators and others, what’s a 401k plan sponsor to do?
For 401k plan sponsors and fiduciaries, this seismic events delivered out of the nation’s Capital on July 15 signals the start of significant changes in the way they operate their plans.
Where’s the best place for the 401k plan sponsor to go for free help on their fiduciary duties and responsibilities?
Many feel the DOL rightly reversed earlier rules that allowed for too many potential conflicts-of-interest. But, will any new DOL guidelines only encourage a “cookie-cutter” approach, doing the investor more harm than good?
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.
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?
