Pilot to copilot: 401(k) plan sponsors may require co-fiduciary consultant

Sturmak, Bud
April 2009
Employee Benefit News;4/1/2009, Vol. 23 Issue 4, p40
The article focuses on the possible need for an independent fiduciary consultant in 401(k) plans. Proper management of plans is reportedly never an easy task for plan sponsors because it requires a specialized understanding of the subject. It is stated that forthcoming legislation will require plan sponsors to disclose detailed information on plan fees and performance to plan participants. The exposure of underperforming plan investment choices by such disclosures is also given.


Related Articles

  • Contributions after age 65 key, EBRI finds.  // Pensions & Investments;6/13/2011, Vol. 39 Issue 12, p23 

    The article offers news briefs related to pension trust. A new analysis by the Employment Benefit Research Institute, found that working past the conventional retirement age of 65 and contributing to a 401 (k) plan can increase the opportunity of sufficient retirement income. Employee Benefits...

  • The New 401(k) Landscape: How Plan Sponsors Can Adapt. Armstrong III, Frank // CPA Journal;Sep2008, Vol. 78 Issue 9, p6 

    The article discusses the 401(k) plans and how plan sponsors in the U.S. adapt to this landscape. One consideration is the compliance with the fiduciary obligations stated at section 409 of the Employment Retirement Income Security Act (ERISA). The plan sponsors should meet the requirements to...

  • Conforming 401(k) Plan Trading Restrictions to the Market Timing Policies of the Mutual Funds in Which the Plan Invests. Brownstein, Andrew R.; Goldstein, Jeremy L.; Krueger, Karen G.; Levine, Theodore A.; Silverberg, Rachelle // Venulex Legal Summaries;2004 Q1, p1 

    The article highlights the use of 401(k) plans in addressing the market timing practices of mutual funds in the U.S. It is said that plan sponsors must inform their participants that market timing is against the rules of some mutual funds. Under the Employee Retirement Income Security Act and...

  • 401(k) Plans Can Reduce ERISA Exposure but Require On-Going Fiduciary Attention. Jacobster, Michael D.; Smidansky, Kurt J. // Venulex Legal Summaries;2006 Q2, p1 

    The article discusses 401(k), a retirement funding tool, that can minimize exposure to liability under the Employment Retirement Income Security Act (ERISA) of 1974 in the U.S. The implementation of an established plan leads to several responsibilities and decisions that may give rise to ERISA...

  • Taking Responsibility.  // Financial Planning;Dec2005, Vol. 35 Issue 12, p16 

    The article focuses on the need for financial advisors in the United States to be aware of what constitutes a fiduciary and define their role accordingly. Advisors have a professional and ethical duty to provide the best financial advice to clients, no matter the size of his or her portfolio....

  • Overseeing plans just got a lot harder. Williams, Fred // Pensions & Investments;1/12/2004, Vol. 32 Issue 1, p3 

    The article reports on the regulatory changes in the financial sector in the U.S. as of January 2004. Turbulence in the mutual fund industry, a turnaround in the financial markets after three bad years and the emergence of defined contribution plans as the primary retirement saving vehicle for...

  • Staying on top of the 401(k). Buescher, Patricia // Oregon Business Magazine;Feb2005, Vol. 28 Issue 2, p40 

    Reports that the United States Department of Labor instructs 401(k) plan fiduciaries to act solely in the interest of participating employees and beneficiaries. Fulfill duties in a prudent manner; Follow plan documents; Diversify plan investments; Pay only reasonable expenses; Documenting the...

  • Are Your Service Providers Fiduciaries of Your 401(k) Plan? Finston, Felicia A.; Friedman Jr., J. B. // Benefits Magazine;Jul2014, Vol. 51 Issue 7, p32 

    The article highlights the significance of hiring of service providers to serve in fiduciary capacity. Topics discussed include the importance of plan sponsors' knowledge on various Employee Retirement Income Security Act (ERISA) fiduciary roles, the reasons to delegate fiduciary responsibility...

  • All eyes on Citigroup 401(k) case appeal. Steyer, Robert // Pensions & Investments;2/7/2011, Vol. 39 Issue 3, p4 

    The article offers information on the case appeal of Citigroup Inc. related to its 401(k) plans. It states that the judgment of the case will play a significant role in determining how sponsors offer company stock in defined contribution plans and how companies deal with lawsuits alleging breach...


Read the Article


Sign out of this library

Other Topics