Evaluating Your Plan's Recordkeeper

Evaluating Your Plan’s Recordkeeper

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Your fiduciary responsibility to your plan participants includes periodically evaluating your plan’s recordkeeper to ensure their processes facilitate the correct execution and reporting of transactions, adherence to federal and state regulations, in addition to the reasonableness of fees in relation with the quality of services provided. With that said, it is important to periodically assess your current recordkeeper. Learn more about the role a plan recordkeeper plays and some of the factors plan sponsors should consider when choosing and evaluating a recordkeeper.

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Benefits of an OCIO Search Consultant

Benefits of an OCIO Search Consultant

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The outsourced chief investment officer (OCIO) model continues to expand in its adoption and complexity. Nearly $2 trillion in assets are under OCIO management and is expected to grow significantly. There are many reasons it can make sense to outsource your chief investment officer (CIO) functions and duties, but finding the right OCIO manager is not an easy task. This is why it’s expected—and highly recommended—to partner with an OCIO search consultant who can guide both the Board of Directors and the Investment Committee through the selection process. Learn more about the key qualities of an OCIO search consultant and how your organization can benefit from a well-vetted consultant.

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403(b) Sales Practices in Question

403(b) Sales Practices in Question

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Over the past few months, we have seen several news stories that raised concerns about insurance companies and their retirement plan sales practices. For example, here is an article that was published in late 2019 by The Wall Street Journal:

Based on the investigations that have reportedly been launched by the New York Department of Financial Services, as well as the Securities and Exchange Commission (SEC), how should retirement plan sponsors respond?

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A Closer Look at Funds and Fees

A Closer Look at Funds and Fees

Posted on by Chris GarrisonLeave a comment

Meeting Your Fiduciary Responsibilities

Managing a 403(b) plan isn’t easy. Since 2006, the Department of Labor’s regulation of 403(b) plans has become increasingly complex and time consuming. Recent regulations, in effect since 2012, are the fee disclosure regulations, which require schools to determine if the fees paid to investment managers and retirement plan service providers are “reasonable.” Unfortunately, the Department of Labor did not create a template or checklist for plan sponsors, so this interpretation is sometimes challenging.

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Avoid These Common Plan Sponsor Mistakes

Avoid These Common Plan Sponsor Mistakes

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Once you’ve done the tough work of creating and implementing a retirement plan for your organization, you might assume that it’ll be smooth sailing from this point on. But the ongoing management of a well-functioning retirement plan can be far more challenging than it may seem. With so many different moving parts, it’s not unusual for things to fall through the cracks, even for the most meticulous plan sponsors. Learn more about some of the most common plan sponsor mistakes and how to avoid them.

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