NEWS, IDEAS + UPDATES

Insights

Possible Rough Waters Ahead for the SECURE Act Safe Harbor

Litigation storm clouds threaten the safe harbor in the Secure Act regarding the selection of annuity providers for retirement income benefits.

Product Innovation Can’t Sidestep Prudence

When Fidelity launched a facility enabling plan participants to purchase cryptocurrencies within their qualified plans, I wrote a piece in Investment News which raised prudence concerns regarding this new facility. Earlier in January, the SEC approved ETFs investing in Bitcoin and my concerns remain the same.

To Manage Fiduciary Risk, Hire an Expert Fiduciary

When your pipes back up, you call a plumber. When you want to manage fiduciary risk, who you gonna call? A fiduciary expert!

Creative Collaboration Can Expedite the Adoption of Lifetime Income Solutions

The Employee Retirement Income Security Act was passed in 1974 to safeguard retirement income. But, for the past 30 years financial services firms have been focused largely on 401(k) Savings Plans.

Process Can Trump ERISA Fiduciary Litigation

Ask any ERISA lawyer and they will tell you that fiduciary litigation is out of control. The recent 11 cases involving BlackRock target date funds are Exhibit A for that statement. Without digging deep into the facts, it is easy to say that the BlackRock funds have solid performance, and yet, plan sponsors are being sued. One easily would have that thought that these funds were unassailable investment selections.

2022 has been a very busy year for news in the retirement world

To recap what we have seen over the past several months, we are providing retirement plan fiduciaries and the committees they serve on with this brief summary of the issues of the day, and our thoughts on how plan fiduciaries should be approaching them.

Cryptocurrencies: Not Yet Ready for Primetime

In March of 2022, the Department of Labor issued a Compliance Bulletin that raised significant questions about the appropriateness of investing in cryptocurrencies within ERISA qualified retirement plans.

INSIGHT: Calling ERISA Ghostbusters—The Rise of Independent Fiduciaries

Settlement of ERISA lawsuits are increasingly including the hiring of an independent fiduciary to oversee plan processes.

ESG: It’s a Mess!

With $39 trillion captured in US retirement plans, it is not surprising that some people ask the question; “why can’t we do some ‘good’ with all that money?”

Who Will Get It Right on Lifetime Income: Plan Consultants or Financial Services Firms?

Retirement plan consultants regularly conduct client surveys. Recently, they have consistently been reporting that plan sponsors have little interest in lifetime income products.

Who Will Get It Right on Lifetime Income: Plan Consultants or Financial Services Firms?

Retirement plan consultants regularly conduct client surveys. Recently, they have consistently been reporting that plan sponsors have little interest in lifetime income products.

Meeting The Demand for ESG Investment Options

Surveys show that employees and plan participants, particularly millennials, are requesting investment options in their 401(k) plans that implement ESG investment principles.

ESG Doesn’t Trump Fiduciary Principles

For plan sponsors, ESG investing is a hot topic of discussion.

ERISA Settlement Mandates Fees and Independent Fiduciary Oversight

In a recent ERISA class action settlement, a 401(k) plan sponsor with close to $2 billion in assets, was forced to pay millions of dollars in damages and appoint an independent third-party fiduciary.

Our Retirement System Isn’t Working the Way It Once Did

The retirement system in America presents real challenges to both plan participants and plan sponsors.

Plan Sponsors Must Focus on Cybersecurity – How Broad Are Their Fiduciary Shoulders?

Corporate America loves to manage its retirement plans.

Managing a Retirement Plan Doesn’t Have to Be a Headache

COVID-19 wreaked havoc on our economy.

Is It Time for Plan Sponsors to Rethink Retirement Plan Management?

The retirement plan system is broken – just ask corporate directors and C-suite executives who are responsible for these plans.

Supreme Court Wades Into Battle Over Fee Litigation

The Supreme Court will decide the fate of “excessive fee” litigation against defined contribution plans, as it has agreed to hear the case of Divane v. Northwestern University.