Just because the new Rule won’t be enforced until January doesn’t mean retirement savers can’t take advantage of it. This does, however, require individuals become self-reliance and look out for their own good. But how is that any different for all other consumer decisions?
Conflicts of Interest
“Hopefully,” says Reese, “this past year gave employers a better understanding of what they need to look out for to act as fiduciaries for their plan participants.”
The current environment abounds with many temptations that try to lure the unsuspecting fiduciary. Here are five very relevant examples.
It goes without saying there are risks when one plays politics with other peoples’ money. The depths of the ensuing fiduciary liability will only be tested when the tort bar brings the matter to court. Until then, fiduciaries may wish to proceed with caution.
“Benchmarking your plan’s fees is important step to carrying out your fiduciary responsibilities.”
There are any number of reasons to get your money out of an old employer’s 401k plan. Here are 10 of them.
Exempting government officials from the same fiduciary standards imposed on private providers places retirement savers at undo risk.
How much effort does it really take for ongoing monitoring of an index fund or a target date fund? And does that justify the fees advisers typically charge? And is this why the DOL inserted that reference in Q5 of the Fiduciary FAQ?
When the time comes for class action attorneys to scan the field for prospective litigation opportunities, they start from the biggest classes and work their way down.
The DOL’s new Rule both discourages and permits continued conflicts-of-interest.
