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Why the Fallout from a Yale Law Professor's Letters to 401(k) Plan Sponsors Remains Radioactive
RIABiz Link to more items from this source
[Opinion]
Aug. 1, 2013
"'PBS spent all of this time and the DOL has done all of these disclosures and it's all been a big yawn, but a Yale professor puts a stamp on 6,000 envelopes and the next thing you know it has started a tempest and you've got to tip your hat,' [said Greg Carpenter, CEO of Employee Fiduciary LLC].... Certainly those 6,000 envelopes put plan sponsors on an awkward footing. If they do nothing, they fear that an eager plaintiff's attorney could use the letters as evidence they were aware of their steep fees and chose to neglect their fiduciary duties."

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