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- Implications of Section 78(3) of the Restatement (Third) of Trusts and the Expanding “Knew or Should Have Known” Liability Standard in the Era of AI
- Closing Argument: Humble Arithmetic, Common Sense, and Fiduciary Liability vs. In-Plan Annuities
- Closing Argument: Humble Arithmetic, Common Sense, and Fiduciary Responsibility vs. In-Plan Annuities
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Category Archives: 404c
Annuities are the Antithesis of Fiduciary Prudence
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® From a legal perspective, the lifetime income annuities being pitched for 401(k) and other types of retirement raise legitimate issues re potential fiduciary breach concerns. As a result, the question is why … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 401klitigation, 404c, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary liability, fiduciary prudence, fiduciarylitigation
Tagged 401k, 401k compliance, 401k litigation, 404c compliance, compliance, ERISA, ERISAlitigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary litigation, fiduciary loyalty, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, retirement plans
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“Sell the Sizzle, Not the Steak”: Annuities, Commensurate Return, and the Fiduciary Duty to Disclose
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® Fiduciary Duty to Coduct Independent Investigation and EvaluationThe courts have consistently held that plans have a fiduciary duty to conduct an independent and objective investigation and evaluation of the each investment included … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, Annuities, best interest, compliance, consumer protection, defined contribution, ERISA, ERISA litigation, evidence based investing, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investments, pension plans, plan advisers, plan sponsors, prudence, retirement planning, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, compliance, fiducairy risk management, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary litigation, fiduciary loyalty, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, pension plans, retirement plans
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Fiduciary Prudence – Don’t Make the Process Harder Than It Is!
“Don’t make the process harder than it is.” – Jack Welch, former GE CEO When I meet with a prospective client, this is what I always tell them. Then I show them how their current plan is exposing them to … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 404c, 404c compliance, Active Management Value Ratio, AMVR, Annuities, asset allocation, compliance, consumer protection, cost consciousness, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, risk management, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary oversight, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, investment advisers
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Thinking in Bets: Using Behavioral Psychology to Improve Fiduciary Prudence
By James W. Watkins, III, J.D., CFP Board Emeritus™, AWMA® My decision to transition into fiduciary risk management was based largely on my love of the law and psychology. My minor in college was psychology, with a focus on cognitive … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, Active Management Value Ratio, Annuities, cost consciousness, cost-efficiency, defined contribution, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, Mutual funds, pension plans, plan advisers, plan sponsors, retirement plans, risk management
Tagged 401k, 401k compliance, 401k risk management, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, investment advisers, retirement plans, risk management
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A Curious Paradox: “Meaningful Benchmarks,” Fiduciary Prudence, and the Active Management Value Ratio
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing has happened.Winston Churchill Some courts continue to attempt to justify premature dismissals of … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, best interest, closet index funds, compliance, consumer protection, cost consciousness, cost-efficiency, defined contribution, DOL, ERISA, ERISA litigation, evidence based investing, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, SCOTUS, Supreme Court, trust realtionships, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, compliance, defined contribution, ERISA, fiducairy risk management, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, fiduciary loyalty, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciarylitigation, investment advisers, plansponsors, retirement plans
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The InvestSense Challenge for Plan Sponsors: Key Fiduciary Liability Risk Management Questions
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® I often hear or read plan sponsors and other investment fiduciaries describing how hard their jobs are, how difficult it is to select and monitor their plan’s investment options and avoid fiduciary … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, Active Management Value Ratio, AMVR, Annuities, compliance, consumer protection, cost consciousness, cost efficient, Cost_Efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, financial planning, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement planning, retirement plans, RIA, RIA Compliance, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, Annuities, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, fiduciary loyalty, fiduciary oversight, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciarylitigation, fiduciaryoversight, retirement plans
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“Knew or Should Have Known: Annuities, Plan Sponsors, and Fiduciary Law – Part 2
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® In Part 1 of “Knew or Should Have Known”: Annuities, Plan Sponsors, and Fiduciary Law,” I examined the basic structure of fiduciary law and some of the potential fiduciary liability issues posed … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, Active Management Value Ratio, Annuities, compliance, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, SCOTUS, Supreme Court, wealth management
Tagged 401k, 401k compliance, 401klitigation, 404c compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary loyalty, Fiduciary prudence, fiduciary responsibilities, fiduciarylitigation, investment advisers, retirement plans, risk management
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“Knew or Should Have Known”: Annuities, Plan Sponsors, and Fiduciary Law – Part 1
James W. Watkins, III, J.D., CFP EmeritusTM, AWMA® For years, the annuity industry has attempted to gain greater access to plan participants’ accounts within 401(k) and 403(b) retirement plans. The industry has tried to counter the fiduciary prohibition against the … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k litigation, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, Annuities, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, RIA, RIA Compliance, risk management, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k litigation, 404c compliance, compliance, ERISA, fiducairy risk management, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, fiduciarylitigation, fiduciaryprudence, investment advisers, retirement plans
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3 Key Questions for Plan Sponsors on Annuities, “Guaranteed Income,” and Fiduciary Liability Under ERISA – 2025
By James W. Watkins, III, J.D., CFP Board Emeritus™, AWMA® Seems that social media and trade publications are focused on the issue of “guaranteed lifetime income” options within ERISA plans, with various studies indicating that plan participants would be interested … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k plans, 401k risk management, 403b, 404c, 404c compliance, AMVR, Annuities, best interest, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investments, pension plans, plan sponsors, prudence, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k fiduciary, 401k litigation, 401k plans, 404c compliance, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibilities, fiduciary responsibility, fiduciaryliability, fiduciarylitigation, plan sponsors, retirement plans
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Caveat Fiduciarius: The Reg BI “Reasonably Available Alternatives”/ERISA “Fiduciary Prudence” Liability Trap
I am on record as saying that (a) ERISA plaintiff’s attorneys should never lose a properly vetted 401(k)/403(b) action, and (b) the amount of 401(k)/403(b) litigation is going to continue to increase. Those opinions are based on three trends within … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, best interest, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan sponsors, prudence, Reg BI, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c, 404c compliance, best interests, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, Fiduciary prudence, fiuciary responsibility, investment advisers, InvestSense, plan sponsors, Reg BI, retirement plans
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