Category Archives: Retirement Plan Management

What is a Fiduciary?

Steve Anglin | 09/20/11

Within the last several years, increased media attention and litigation regarding management of retirement plans has caused us to revisit the phrase “fiduciary responsibility” and what that entails.  In 2010, the Employee Benefits Security Administration closed 3,112 civil investigations of Employee Benefit plans.  73.94% of those investigations resulted in $1.05 Billion in monetary fines and corrective actions.  How do plan sponsors act prudently, protect their interests, and avoid fines and litigation?  They must follow the Exclusive Benefit rule which states that fiduciaries must act in the best interests of plan participants, not the company itself.
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New 401k Fee Disclosure Requirements

Steve Anglin | 08/29/11

According to an AARP poll, 71% of 401k participants said they did not pay any fees in their 401k account. Most participants were not aware how much they paid even after being told that they did pay fees.  These and other studies underscored a general lack of understanding regarding individual expenses regarding management of 401k accounts.
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