“Encouraging lifetime income distributions was one of my major initiatives at DOL and my biggest regret was that I was not able to move the ball forward as much as I wanted during my time there.” Here she explains why.
Tag "ESG"
It is the world we inhabit right now. Your company is good for the world because you say so. And no one can legitimately argue with your feelings.
This has long been demanded of fiduciaries. Nearly two centuries ago in Harvard College v. Amory, the Massachusetts court promulgated what has become known as the “prudent man rule.”
ESG isn’t going away. There’s no way of telling if it’s a mood ring or a diamond ring. One thing is eminently clear: ESG is a product that people want right now. This complicates life for the retirement plan fiduciary.
The most pertinent issue may not be the fiduciary imperative, but the marketing imperative. This makes things extremely difficult for the 401k plan sponsor who may sometimes confuse which has priority. Here’s an example of why a plan sponsor might be concerned.
But is that a chance a fiduciary should take with someone else’s money? The answer is so obvious the question should not have to be asked.
SECURE, BI, and 3% fees!
SECURE Act recap, BI coming, and ESG sizzling.
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.
The Biggest 401k Fiduciary Fireworks, Fizzles, And Flops In 2021
Flops may not be forever. They may just be good ideas before their time. If you’re going to belittle them, you best hurry, because, if you wait too long, you may just discover they aren’t flops anymore. As a result, let’s not waste any time before the shelf-life of these flops expire.