Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
Nova 401(k) Associates
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|The DOL's Fiduciary Rule: Why Can't Regulators Do Simple?|
June 17, 2015
"The problem with the BICE is that it fails to disincentivize financial advisors from including high-cost, actively managed funds in a retirement plan -- in other words, the types of funds that get challenged in excessive 401k fee lawsuits. That make the BICE a dangerous proposition for plan sponsors who have personal liability in these lawsuits.... A clean rule would make it easier for 401k sponsors to select and monitor financial advisors obligated to put the interests of their participants first.... [P]lan sponsors have an incredibly important job as fiduciaries -- protecting the best interests of plan participants. Regulations should make that job easier and not harder."
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