What do the proposed revisions to the Form 5500 annual reporting mean for retirement plans? Chip Lloyd of Vanguard’s Strategic Retirement Consulting group shares how increased transparency could be a good thing for plan sponsors.
Chip Lloyd is a senior ERISA consultant in Vanguard Strategic Retirement Consulting, where he is responsible for compliance and technical services for Vanguard’s Institutional clients, assisting them with the interpretation and application of compliance requirements that relate to their qualified retirement plans. He has close to 30 years of experience working with qualified and nonqualified retirement plans.
Working closely with Vanguard’s ERISA Legal Group, the Vanguard Strategic Retirement Consulting Group is devoted exclusively to providing business-focused compliance and consulting services for Vanguard’s retirement plan clients. The group includes a diverse team of attorneys, consultants, actuaries, and benefits specialists, many of whom are nationally recognized experts with more than 15 years of experience consulting on retirement savings and other employee benefits issues.
Before joining Vanguard in 1996, Mr. Lloyd was employed with Towers Perrin, where he worked in the Philadelphia consulting office. He received his B.S. in electrical engineering from Lafayette College and later earned a Qualified Pension Administrator (QPA) designation from the American Society of Pension Professionals & Actuaries (ASPPA).