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Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
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Search the News Archive
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151 Matching News Items |
| 1. |
Employee Benefit Research Institute [EBRI]
Mar. 24, 2010
Excerpt: A recent news article ('Perceptions of Retirement Preparation,') focused on differences in Americans' expected preparations for retirement as presented by a recent for-profit start-up firm, Fiduciary Benchmarks, and the nonprofit Employee Benefit Research Institute (EBRI). This blog expands on several of the excellent points raised in that article.
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| 2. |
The SPARK Journal and the Society of Professional Asset-Managers and Record Keepers
Mar. 24, 2011
ERISA standards hold fiduciaries accountable for what they know or what they should have known. So while trends are always worth evaluating, a trend that deals with a fiduciary's obligation is particularly important to evaluate and understand.
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| 3. |
Encore Fiduciary
Nov. 20, 2023
"A $31 recordkeeping per-participant fee is well below the average and median for $1B+ asset plans. But plaintiff law firms continue to file fiduciary malpractice claims with intentionally false comparators ... The plan sponsor community must fight back against frivolous excess fee lawsuits by publishing studies of what large plans actually pay for recordkeeping services and explaining how these services are differentiated by quality and scope." [Winkelman v. Whole Foods Market, Inc., No. 23-1352 (W.D. Tex. complaint filed Nov. 6, 2023)]
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| 4. |
The Prudent Investment Adviser Rules
Jan. 1, 2024
"While ERISA and other cases, most notably the First Circuit's Brotherston decision ... have clearly established the validity of comparable index funds as legitimate comparators in ERISA litigation, the courts continue to ignore such arguments and authority.... Can anyone truthfully argue that a prudent fiduciary would select cost-inefficient mutual funds when more cost-efficient investment options are available?"
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| 5. |
October Three Consulting
May 30, 2024
"Cisco was able to win ... because of the flexibility it had built into its IPS, giving the committee discretion as to what to do if a fund did not meet a target.... For the foreseeable future, plaintiffs lawyers will be on the hunt for sponsors that include 'underperforming funds' in the plan fund menu. Committees may address this issue by explicitly recording/summarizing in their minutes any discussion of fund performance, especially with respect to funds that are 'underperforming.' " [Bracalente v. Cisco Systems, Inc., No. 22-4417 (N.D. Calif. May 20, 2024)]
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| 6. |
The Prudent Investment Adviser Rules
Oct. 2, 2023
"The Tenth Circuit suggested that to be a meaningful comparator, plan participants must go beyond performance and factor in questionable collateral issues such as a fund's management strategies and goals.... [S]uch collateral issues are meaningless to plan participants and in 401(k) and 403(b) litigation.... Businesses around the world utilize cost/benefit analysis into their decision making process.... [P]lan sponsors should as well."
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| 7. |
Fiduciary News; registration may be required
Aug. 27, 2013
"A month after Rule 408(b)(2) became effective, a Wharton study came out declaring investment allocation had less relevance than at least three other factors.... [T]hese under-emphasized benchmarks can help 401k plan sponsors fulfill their (traditional) fiduciary duty to serve the best interests of the beneficiaries of the plan."
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| 8. |
Fiduciary News; registration may be required
Jan. 27, 2015
"[For] all the talk of benchmarking, no 'benchmark' for benchmarking actually exists.... Regulators treating benchmarks as a fungible concept appears more appropriate than one might guess. Between changes in technology, new revelations from academic research, and even evolving court cases, the target benchmark can move considerably. Perhaps the best example here occurs in the realm of fees. What's acceptable today can get you in trouble tomorrow, so caveat emptor is more than just a quaint Latin cliche, it's a stark warning to 401k plan sponsors."
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| 9. |
Fiduciary Benchmarks
July 23, 2025
"If a plan fiduciary is looking for little or no services for the participants and the simplest of investments, then lowest cost may be the right cost. But if they are looking to provide a robust set of services ... and to offer investments that will provide, for example, guaranteed retirement income, then lowest cost isn’t right.... [Of] six key retirement assumptions, decreasing fees has the least impact on the investor’s retirement readiness ratio."
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| 10. |
Fiduciary Benchmarks
Mar. 26, 2025
"[1] Build a benchmark group ... [2] Consider the quality of the managed account provider ... [3] Consider the services of the managed account provider ... [4] Consider the value delivered by the managed account provider ... [5] Consider the fees charged by the managed account provider."
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