A Closer Look at Funds and Fees

A Closer Look at Funds and Fees

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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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Understanding the DOL MEP rule

Understanding the DOL’s New Rule for Multiple Employer Plans

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For decades, small businesses and their employees have been disadvantaged by the limited availability of high-quality, low-cost retirement plans. But this is all set to change by the end of third quarter this year, when a new rule from the U.S. Department of Labor (DOL) takes effect, seeking to expand the access of Multiple Employer Plans (MEPs). Learn more about the DOL MEP rule and some of the advantages businesses and their employees can realize from participating in a MEP.

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What’s Your Fee Policy?

What’s Your Fee Policy?

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According to the Callan Institute, an employee benefits research and investment consultancy group, the issue of high concern for defined contribution plan sponsors is that of retirement plan fees. Specifically noted in Callan’s 2019 Defined Contribution Trends Survey, plan sponsors have identified for the third year in a row that improvements in their fiduciary standing comes from a robust and thorough review of retirement plan fees.

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Addressing Conflicts of Interest

Addressing Conflicts of Interest

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In today’s ever-changing regulatory environment, there is increasing pressure on retirement plan sponsors (from the DOL) and their plan advisors (from the SEC) to address conflicts of interest. The ultimate goal of the new guidelines is to protect your retirement plan participants. More specifically, the DOL and SEC want your employees to receive unbiased advice and to be protected from paying unreasonable fees.

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Defined Contribution Plan Trends that Plan Sponsors Need to Know

Defined Contribution Plan Trends that Plan Sponsors Need to Know

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Defined contribution (DC) plans were designed to help participants become retirement ready. However, nearly 40 years since their introduction, as people who began their careers in that period are hoping to leave the workforce, retirement readiness still tops the lists of concerns for DC plan sponsors and participants. Many employers sought for years to maximize employee participation, educate employees about diverse investment options and use their 401(k) or 403(b) plans to attract and retain staff. However, evidence shows that two thirds of employees with access to plans are not using them to save.

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