Sometimes the ‘basics’ get so shopworn they lose their punch—like the solemn performance of fiduciary duty and its importance to every retirement plan sponsor and nonprofit institution and their investment committees. Here’s a brief refresher.
The U.S. Department of Labor’s new fiduciary rule promises a more transparent financial planning environment. Advisors to retirement plans, plan fiduciaries, or individual retirement investors, however, may need to learn some new moves.
Plan sponsors should be relieved to know that the new DOL fiduciary rule will have little direct impact on them, though there might be minor ramifications for participants calling service providers.
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.
John Schadl, head of Vanguard ERISA & Fiduciary Services, takes a closer look at one provision of the DOL’s final rule updating the definition of fiduciary advice.
Retirement plan sponsors have many fiduciary responsibilities to their plan and participants. Financial professionals can provide coaching in many areas, including investment selection, plan administration, and fiduciary compliance.