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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: Annuities
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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Fiduciary InvestSense™: Annuities, Plan Sponsors, and Fiduciary Law
By James W. Watkins, III, J.D., CFP Board Emeritus™, AWMA® As an attorney and a fiduciary risk management consultant, my job is to protect plan sponsors, trustees, and other investment fiduciaries against unnecessary fiduciary liability…and themselves. Far too often, I … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Annuities, best interest, compliance, 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, Mutual funds, pension plans, plan sponsors, prudence, retirement planning, retirement plans, risk management, SCOTUS, Supreme Court, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401klitigation, Annuities, compliance, ERISA, ERISAlitigation, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, fiduciary loyalty, Fiduciary prudence, fiduciary responsibilities, fiduciary responsibility, fiduciary risk management, fiduciarylitigation, retirement plans
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401(k) InvestSense: Focus on Fiduciary Process Over Product
By James W. Watkins, III, J.D., CFP Board Emeritus™, AWMA® People often ask me what is the most common mistake that plan sponsors make, The answer is simple-assuming unnecessary fiduciary liability exposure by focusing on product rather than process. Actually, … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, AMVR, Annuities, best interest, closet index funds, compliance, 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, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k fiduciary, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibilities, fiduciary risk management, fiduciary standard, fiduciaryliability, fiduciaryoversight, investment advisers, retirement plans
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Annuities, SECURE 2.0, and Fiduciary Law
While there has been much speculation and anticipation about the possible passage of SECURE 2.0, the recent events involving cryptocurrency, reportedly a major component of SECURE 2.0, appears to make its passage before the end of the year doubtful. The … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, Annuities, compliance, cost-efficiency, elderly investment fraud, 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, pension plans, plan advisers, plan sponsors, prudence, retirement planning, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, Annuities, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, fiduciary risk management, investment advisers, retirement plans, risk management
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At What Cost?: Annuities, Cryptocurrency, and Fiduciary Law
A [fiduciary] is held to something stricter than the morals of the market place. Not honesty alone, but the punctilio of an honor the most sensitive, is the standard of behavior….1 Fiduciary law is a combination of three types of … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, Annuities, consumer protection, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA litigation, evidence based investing, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary standard, investment advisers, pension plans, prudence, retirement plans, risk management, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, plansponsors, retirement plans, trustees, trusts, trusts and estates
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Less Is More: Plan Sponsors and the Art of Fiduciary Thinking
When I read about the House passing the SECURE 2.0 bill, I had three immediate thoughts: “Annuities are sold, not bought.” “So, plan sponsors are going to be able to automatically force employees to contribute to non-compliant 401(k) plans loaded … Continue reading
Posted in 401k, 401k compliance, 401k investments, Active Management Value Ratio, Annuities, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary standard, pension plans, prudence
Tagged 401k, 401k compliance, ERISA, fiduciary, fiduciary investing, fiduciary law
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Non-Commission Annuities: The “New” Fiduciary Annuity Trap
“Equity abhors a windfall.” Fiduciary law is largely based on trust, agency and equity law, with an emphasis on fundamental fairness. Any situation in which a fiduciary benefits at a beneficiary’s expense is a potential breach of the fiduciary’s duties. … Continue reading
Posted in 401k, 401k compliance, 401k investments, Annuities, compliance, consumer protection, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, investment advisers, prudence, Reg BI, RIA Compliance, RIA marketing, securities compliance, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, Active Management Value Ratio, best interests, BICE, compliance, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, investment advisers, prudence, RIA compliance, RIA risk management, wealth management, wealth preservation
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ERISA Litigation’s “Next Big Thing?”
I have been receiving a number of requests to perform forensic analyses on ERISA plans that include one or more variable annuities as investment options within the plan. Most of these plans are ERISA 403(b) plans due to the fact … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, 404c, 404c compliance, Annuities, best interest, compliance, consumer protection, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, pension plans, prudence, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, 404c, 404c compliance, Annuities, best interests, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary standard, pension plans, prudence, retirement plans, wealth management, wealth preservation
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There Are No Mulligans in Fiduciary Law
Webster’s dictionary defines a mulligan as “a free shot sometimes given a golfer in informal play when the previous shot was poorly played.” While various organizations are currently promoting various erroneous definitions of “fiduciary” and what a fiduciary’s duties include, as the … Continue reading
Posted in Annuities, BICE, compliance, DOL fiduciary rule, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, pension plans, retirement plans
Tagged BICE, compliance, DOL fiduciary rule, ERISA, fiduciary, fiduciary law, fiduciary standard, investment advisers, pension plans, retirement plans
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Eyes Wide Shut: Why the Current SEC Will Not, and Cannot, Adopt a Fiduciary Standard
Living is easy with eyes closed, misunderstanding all you see. – “Strawberry Fields Forever” In recent appearances on Capitol Hill, SEC Chairman Jay Clayton and DOL Secretary Alexander Acosta pledged to work together on a fiduciary rule applying to stockbrokers … Continue reading
Posted in 404c, Annuities, closet index funds, DOL fiduciary rule, DOL fiduciary standard, ERISA, fiduciary compliance, fiduciary law, Fiduciary prudence, fiduciary standard, Impartial Conduct Standards, investments, pension plans, prudence, retirement plans, RIA, RIA Compliance, securities compliance
Tagged 401k, 401k compliance, 404c, 404c compliance, Active Management Value Ratio, AMVR, Annuities, best interests, BICE, compliance, ERISA, fiduciary, fiduciary investing, Fiduciary prudence, fiduciary standard, pension plans, retirement plans, securities compliance, wealth management
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