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Recent Posts
- 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
- DOL’s Betrayal of American Workers Sends a Clear Message to American Workers: We Really Don’t Give a Damn About You!
- 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
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Tag Archives: fiduciary investing
CommonSense 401(k) Prudence and Risk Management
Whenever I perform a forensic fiduciary advice on a 401(k) or 403(b) plan, I invariably find myself asking the plan sponsor and/or the plan’s investment committee the same two questions: Why do you have so many investment options? Why did … Continue reading
Posted in fiduciary compliance
Tagged 401k, 401k compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, retirement plans
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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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The “Fiduciary Prudence Trinity”: A Blueprint for Evaluating the Prudence of Fiduciary Investments
In my last post, I discussed the significance of three ERISA related decisions-Tibble, Hughes/Northwestern and Brotherston. I like to refer to these three cases as the “fiduciary responsibility trinity,” because I believe that, collectively, they will shape the future of … Continue reading
The “Fiduciary Responsibility Trinity”: ERISA Fiduciary Law After the Hughes/Northwestern Decision
SCOTUS recently announced its much anticipated decision in the case of Hughes v. Northwestern University.1The significance of the decision cannot be overstated, as it dramatically changes the “rules of the game” for 401(k) and 403(b) retirement plans, Hughes was the … Continue reading
Posted in fiduciary compliance
Tagged 401k, 401k compliance, 404c compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, retirement plans
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The #Northwestern403b Decision: What Next For Plan Sponsors?
This past Monday, SCOTUS issued its much anticipated decision in Hughes v. Northwestern University (#Northwestern403b) The original issue before the Court was whether or not the plan participants had properly plead their case in their complaint. The lower courts had … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, best interest, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, investments, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, Active Management Value Ratio, cost consciousness, cost-efficiency, ERISA, fiduciary, fiduciary investing, fiduciary law, Fiduciary prudence, fiduciary responsibility, retirement plans
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4Q 2021 AMVR “Cheat Sheet”
At the end of each calendar quarter, InvestSense publishes the 5 and 10-year Active Management Value Ratio (AMVR) scores of the non-index funds in “Pensions & Investments” annual survey of the most used mutual funds in U.S. defined contribution plans. … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, cost-efficiency, fiduciary compliance, fiduciary duty, fiduciary liability, Fiduciary prudence, fiduciary prudence, wealth management, wealth preservation
Tagged 401k, 401k compliance, compliance, cost-efficient investing, ERISA, fiduciary, fiduciary investing, fiduciary law, investing, investment advisers, Mutual funds, retirement plans, wealth management, wealth preservation
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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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