Liability Changing for Plan Sponsors as Fiduciaries

Liability Changing for Plan Sponsors as Fiduciaries

Posted on by Editorial TeamLeave a comment

The Department of Labor “Fiduciary Rule” requires those who advise people on their retirement plans to act in their clients’ best interests when they provide investment advice for compensation. While partially “implemented” on June 9, 2017, the DOL rule’s complete implementation has been further delayed until July 1, 2019. During the interval, however, there are actions employers and other plan sponsors should consider taking now to proactively minimize risk exposure until a final measure is in effect.

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Five Actions Plan Sponsors Should Take Now

Five Actions Plan Sponsors Should Take Now

Posted on by Mark OlsenLeave a comment

At PlanPILOT, we assist clients in not only achieving their goals and satisfying their fiduciary responsibilities today but in continually looking ahead to ensure a dynamic plan and benefit. The industry and the role of retirement plans are evolving so swiftly that, while plan sponsors don’t need to be cutting edge, they do need to take steps to keep up with the changes. The last thing you want is to wake up one day and realize that your plan is stuck in the past.

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How Will the DOL Fiduciary Rule Affect Plan Sponsors?

How Will the DOL Fiduciary Rule Affect Plan Sponsors?

Posted on by Mark OlsenLeave a comment

In April, the US Department of Labor (DOL) released the long-awaited and highly contested final rule redefining who is considered a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA). This revision was designed to address conflicts of interest in retirement advice by applying the fiduciary standard more broadly, to include everyone who provides investment advice to sponsors and participants in defined contribution workplace retirement plans and individual retirement accounts (IRAs). How will the DOL fiduciary rule affect plan sponsors?

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