The DOLâs guidance on missing plan participants appears just as effective as its week 2012 Mutual Fund Fee Disclosure Rule. Yes, itâs there, but it has no viability. Still, that doesnât mean 401k plan sponsors can ignore the issue, even if they have not lost participants.
Tag "Department of Labor"
The root of these broader fiduciary concerns lies within the domain of compliance. Everything derives from what the regulators require, what any DOL audit might look at, and what might pique the interest of class-action attorneys.
Itâs critical that plan sponsors consult with compliance professionals before adding the Deemed IRA feature.
The story arc of the 401k mimics that of software. Each release adds to and builds on features and benefits over and above those of previous releases.
There is an out, of course, but that might eliminate the so-called âinstitutional pricingâ advantage former employees have for staying in the plan in the first place.
Here’s something you don’t always see, but maybe you should.
Having no idea what the fiduciary means, and worse, not caring, most IRA R/O investors are sheep heading for their (financial) slaughter. Not anymore, if the DOL’s Phyllis Borzi has her way.
These three issues linger like a ticking time bomb. Theyâre out there. Theyâre going to go off at some point. We just donât know when. Plan fiduciaries need to get ready for them.
These next three months may prove a watershed for 401k plan sponsors as new rules will dramatically alter how 401k plan sponsors manage their companiesâ retirement plans.
Whereâs the best place for the 401k plan sponsor to go for free help on their fiduciary duties and responsibilities?
