If we liken the “5 Critical Topics” to the skeleton and sinew of a plan sponsor’s fiduciary obligation, the “meat and potatoes” topics can be described as its soft underbelly. It is within the routines of these topics that plan sponsors live most dangerously. What are these next two topics and why is it important plan sponsors to dig deep into them rather than simply “read the headlines”?
Basic Members
The Meat and Potatoes Topics of 401k Plan Sponsor Training: Fiduciary Education Curriculum (Part II)
These are fundamental in nature. They are necessary prerequisites for 401k plan sponsors to fully inculcate themselves with more complex topics.
Here’s an inside look at what’s been making all those headlines the last few years, and maybe what might be making headlines in the next few years.
With the final dust comfortably settling on this year’s tax season, we can know begin to put together the pieces of this new reality that may have plan sponsors and their service providers rethinking their long-held strategies.
Looking for an equal and opposite reaction for those intent on continued delays in saving for retirement? This article reveals 5 effective counter punches.
There’s no question 401k plan sponsors know they need to up their game when it comes to employee education programs. According to one study, 80% of education programs on 401k offerings for employees are ineffective. Plan sponsors today seek solutions to better engage employees.
There are two strategic paths to use when it comes reducing liability. One approach occurs after the fact – after the target date funds are already in place. The other approach takes place before the target date funds are even placed on the 401k plan menu. Which is more reliable?
When considering the potential – if not underestimated – liability associated with TDFs, perhaps it’s best to listen to the warning Cialdini provides regarding Social Proof: “It should never be trusted fully… we need to look up and around periodically whenever we are locked into the evidence of the crowd.”
“The ruling by the First Circuit in the Putnam case further increases focus on trust law when determining the scope of fiduciary responsibility under ERISA. Prudent practice already draws on trust law and sometimes prudent practice is ahead of the courts.”
When retirement industry professionals talk about the impact of the 2006 Pension Protection Act, you might be surprised that this is what they conclude.
