These vast unknowns inherent with Target Date Funds have perhaps created a new fiduciary liability where none previously existed.
Tag "fee"
For 401k plan sponsors and fiduciaries, this seismic events delivered out of the nation’s Capital on July 15 signals the start of significant changes in the way they operate their plans.
Under the DOL’s proposed Investment Advice Rule, if a plan enters into a prohibited relationship with a vendor – or if an existing relationship now becomes prohibited – fiduciary liability rises. Can the 401k fiduciary afford to ignore these critical issues?
Are you breathing a sigh of relief? Commentators seem to have coalesced around several key benefits of this proposed Rule. Can you see these helping your plan’s participants?
Most interesting, though, may loom the warning of Justice Alito: When is comes to fiduciary duty, disclosure isn’t enough. One wonders if the DOL is listening.
The question now on the mind of every 401k fiduciary: Will the DOL’s new rule increase my personal fiduciary liability?
Why wait until now to bring up the three-month old blog? The bigger question, however, remains, “How should a 401k fiduciary analyze mutual fund fees?”
