Does the most widely read Fiduciary News story in 2010 reflect a latent concern among 401k fiduciaries or does is represent an eerie omen?
Tag "liability"
“What is intended to help participants, may hurt them as their decisions are driven by confusion and data overload.”
Isn’t it ironic that the very people who 401k plans were created to benefit have decided it’s easier to ignore the maze than to constructively participate. Allowing the 401k to evolve up to today’s technology will solve many problems.
It’s not like folks hid their Target Date Fund gripes. The question is: Was the DOL on target with its new disclosure rules?
Was a major financial professional organization covering up some important data in their comment letter to the SEC? Or is the industry’s 401k defense of 12b-1 fees much ado about nothing?
Find out what big PR push a certain sector of the financial industry started this week. Here’s a hint: You can thank Washington.
While one might ask why it took this product 50 years to become popular, a better question might be why had the product failed to spark much interest during those decades.
These vast unknowns inherent with Target Date Funds have perhaps created a new fiduciary liability where none previously existed.
“I selected the Target Date Funds to reduce my fiduciary liability. Are you telling me this actually raises my fiduciary liability?” The panel merely looked at each other and laughed.
Fiduciary News Trending Topics for ERISA Plan Sponsors: Week Ending 10/29/10
If you give yourself some time to file an article you tend to be a little bit more thorough. It’s kinda like why “the fastest guns in the West” didn’t survive too long – they didn’t take the time to aim. This week’s news stories aimed well – and hit!