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GAO Report Shines Spotlight on Key Issues for Managed Accounts in 401(k) Plans
Thompson Coburn Link to more items from this source
Dec. 5, 2014
"The GAO reviewed the offerings of eight providers of these types of investment management services and estimated that those providers represent over 95% of the managed account industry in defined contribution plan ... They identified these broad areas of concern ... [1] Providers structure managed accounts differently, which can harm participants.... [2] Managed accounts offer advantages for some participants but fees and lack of standardized reporting requirements from DOL can offset these advantages.... [3] Absent guidance, sponsors face challenges in selecting and overseeing managed account providers."

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