As long as the fiduciary ball remains in the Executive Branch’s court, it’s easy to predict what will happen. That doesn’t mean, however, that we won’t see some surprises coming from the Legislative Branch.
Tag "401k"
Think of the third party as the food truck in the parking lot. Employees will see it and decide for themselves whether to engage with it.
The fact Social Security was already collecting this information, albeit not in a database, raises the question of whether this new lost and found database will add any real value.
What’s one way 401k plan sponsors can ensure they establish a due diligence framework that can best reduce their fiduciary liability?
I do not underestimate the ability of the plaintiff’s bar to come up with novel and clever arguments, but for the reasons set forth in the white paper I do not believe that they can construct a viable theory.
Making matters worse is the changing regulatory environment once the new SECURE Act 2.0 rules become effective. The good news is the dust settles after that.
Here the intent is to make it possible for a plan/IRA to apply the QDIA safe harbor to involuntary rollovers. But how will this impact plan participants?
The tangled web of ERISA regulations grows worse each year. Is this too much for companies responsible for maintaining 401k plans?
It’s tempting to turn your attention to your company, some academic theory, or even—hush!—“best practices.” The truth is, as a fiduciary, you only have one job.
This has been the most challenging of best practices. It has evolved over the years from “you can’t do that” to “you need to do that.” What does it take to make it better? Has the technology environment changed in such a way as to address long-standing obstacles.
