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Recent Posts
- Battle of the Best Interests – Whose Are the EBSA and the DOL Supposed to Serve, and Whose Are They Really Serving?
- Guest Article On Supreme Court’s Decision to Hear the Intel Case
- Fair Dinkum: A Critique of the EBSA’s Amicus Brief in Pizarro v. Home Depot
- Upon Further Review; The 3 X 3 Analysis That Shows Why Prudent Plan Sponsors Will Never Offer Annuities Within Their Plan
- The DOL’s Pizarro v. Home Depot Amicus Brief: Borzi and Gomez Don’t Live Here @ EBSA Anymore
The Prudent Investment Adviser Rules
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Category Archives: pension plans
Redefining Fiduciary Prudence for 401(k) Plan Sponsors
by James W. Watkins, III, J.D., CFP®, AWMA® The legal requirement for prudence, as defined in ERISA Section 404(a)(1)(B), is for a fiduciary to discharge his or her duties with: “the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, closet index funds, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, DOL fiduciary rule, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, investment advisers, investments, pension plans, plan sponsors, prudence, retirement plans, risk management
Tagged 401k, 401k compliance, Active Management Value Ratio, AMVR, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, investment advisers, plan sponsors, retirement plans
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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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1Q 2022 AMVR “Cheat Sheets”
On the 5-year cheat sheet, only one fund, Dodge & Cox Stock (DODGX), posted positive incremental returns on both nominal and risk-adjusted returns. While DODGX passed the AMVR screen on nominal returns, the fund failed to pass the AMVR screen … Continue reading
Posted in 401k, 401k compliance, Active Management Value Ratio, cost efficient, cost-efficiency, DOL fiduciary standard, ERISA, fiduciary duty, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, pension plans
Tagged fiduciary, fiduciary investing, Fiduciary prudence, fiduciary responsibility, wealth management, wealth preservation
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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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Connecting the Dots: Correlation of Returns and Fiduciary Prudence
With SCOTUS’ recent decision in Hughes v. Northwestern University1, we now have what I like to refer to as the “fiduciary responsibility trinity” (Trinity). The Trinity consists of the Tibble v. Edison International2 (Tibble), Brotherston v. Putnam Investments, LLC3(Brotherston), and … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, closet index funds, 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, pension plans, prudence, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary responsibility, investment advisers, retirement plans
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Plan Sponsor Alert: The Hidden Message in the #Northwestern403b Hearing
There were two issues properly before SCOTUS in the recent #Northwestern403b hearing: (1) the sufficiency of the plan participants’ complaint, and (2) the legal merits of the 7th Circuit’s rationale for dismissing the plan participants’ complaint, the “menu of options” … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, cost consciousness, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary standard, investment advisers, investments, pension plans, prudence, wealth management, wealth preservation
Tagged 401k, 401k compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, investment advisers, retirement plans
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The Really Smart Experts Measure AMVR: Blueprint for 401(k)/403(b) Litigation and Design
In a recent post, I wrote (1) that plan participants should never lose a properly vetted 401(k)/403(b) litigation action, and (2) a properly designed and maintained 401(k)/403(b) plan should should never lose a breach of fiduciary duties action based on … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, pension plans, prudence, retirement plans, wealth management, wealth preservation
Tagged 401k compliance, ERISA, fiduciary investing, fiduciary law, retirement plans
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Back to the Future, Investment Fiduciary Style
With the Supreme Court’s new term scheduled to begin in a few days, we move closer to the Court hearing the Northwestern University 403b case. I believe that this case has the potential to be a landmark case, not just … Continue reading
Posted in 401k, 401k investments, 403b, Active Management Value Ratio, ERISA, ERISA litigation, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary standard, pension plans
Tagged 401k, 401k compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary responsibility, fiduciaryliability
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The Active Management Value Ratio: Quantifying the “New” Fiduciary Prudence
Right now, the DOL and the SEC are trying to define “prudence” and “best interest,” respectively. I am on record as saying that the simplest and most logical step would be one, universal standard of prudence, using the Investment Advisor’s … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, cost-efficiency, DOL fiduciary rule, fiduciary compliance, fiduciary liability, Fiduciary prudence, fiduciary responsibility, pension plans, retirement planning, retirement plans, wealth preservation
Tagged 401k, 403b, ERISA, fiduciary, fiduciary liability, fiduciary responsibility, investment advisers, plan sponsors, retirement plans, wealth preservation
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The CareerBuilder 401(k) Decision: Three Key Lessons for Plan Sponsors and ERISA Attorneys
“If we desire respect for the law we must first make the law respectful.” Supreme Court Justice Louis Brandies Currently, we have different federal courts handing down various interpretations of ERISA. As a result, in some cases the public’s guaranteed … Continue reading
Posted in 401k compliance, 401k investments, 404c, 404c compliance, Active Management Value Ratio, AMVR, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, evidence based investing, fiduciary compliance, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary standard, investment advisers, pension plans, prudence, retirement plans
Tagged 401k, 401k compliance, 404c, 404c compliance, Active Management Value Ratio, AMVR, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary standard, pension plans, prudence, retirement plans
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The Prudent Investment Fiduciary Rules 
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