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Recent Posts
- “At the Pleading Stage”: An Analysis of the Seventh Circuit’s Reconsideration of Hughes v. Northwestern University
- “Humble Arithmetic” and the Future of 401(k) Litigation
- 401(k) InvestSense: Focus on Fiduciary Process Over Product
- Brotherston Revisited: Will the 10th Circuit Court of Appeals “Fix” the Ongoing 401(k) SNAFU?
- 4Q 2022 AMVR “Cheat Sheets”: Correlation of Returns, “Closet Indexing,” and Fiduciary Liability
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Tag Archives: fiduciary responsibility
“At the Pleading Stage”: An Analysis of the Seventh Circuit’s Reconsideration of Hughes v. Northwestern University
by James W. Watkins, III, J.D., CFP Board EmeritusTM AWMA® The Seventh Circuit’s recent decision1 in Hughes v. Northwestern University simply reinforces my opinion that there is definitely a trend going on in 401(k) and 403(b) litigation, a trend reinforcing … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, AMVR, 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, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, SCOTUS, Supreme Court
Tagged 401k, 401k fiduciary, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibilities, fiduciary responsibility, fiduciary risk management, fiduciaryresponsibility
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“Humble Arithmetic” and the Future of 401(k) Litigation
By James W. Watkins, III, J.D., CFP Board EmeritusTM, AWMATM Fortunately, there is currently a case pending in the 10th Circuit, the Matney case, which may go a long way in resolving two of the primary issues that continue to … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, AMVR, 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, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management
Tagged 401k, 401k compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary oversight, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, retirement plans
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401(k) Litigation Trends to Watch in 2023
I am often asked what I see as the current trends in 401(k) and what fiduciary risk management steps plan sponsors should consider in order to reduce any potential fiduciary risk exposure. With the end of the year approaching, now … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, Active Management Value Ratio, AMVR, 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 advisers, plan sponsors, prudence, retirement plans, risk management, SCOTUS, securities compliance, Supreme Court
Tagged 401k, 401k compliance, 403b, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, investment advisers, Restatement Trusts, 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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Brotherston v. CommonSpirit Health: An Opportunity, and a Need, to Shift the 401(k) Litigation Paradigm
In the midst of chaos, there is also opportunity – Sun Tzu As an ERISA attorney, the Sixth Circuit’s recent CommonSpirit Health (CommonSpirit) decision1 concerns me. First, the Court completely ignored the First Circuit’s Brotherston decision2, the Restatement (Third) of … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, cost consciousness, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, Mutual funds, pension plans, plan sponsors, prudence, risk management, SEC, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k plans, 403b, 404c compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary standard, retirement plans
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The Conversation Every 401(k) and 403(b) Plan Needs to Have: The Plan Sponsor Liability Circle™
James W. Watkins, III, J.D., CFP®, AWMA® Whenever plan sponsors and plan advisers talk about 401(k) litigation, they always point the finger at those bad ‘ol ERISA plaintiff attorneys. Since I am one of those bad folks, I respectfully disagree … 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, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, Mutual funds, pension plans, plan sponsors, prudence, Reg BI, retirement planning, retirement plans, risk management, securities compliance
Tagged 401k, 401k compliance, 401k risk management, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, retirement plans, risk management
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An Inconvenient Truth: Cost-Inefficiency and Closet Indexing in 401(k) Plans
“Facts do not cease to exist because they are ignored” – Aldous Huxley The Sixth Circuit Court of Appeals’ recent decision in the CommonSpirit Health (CommonSpirit)1 401(k) action has brought renewed attention to several key 401(k) compliance and fiduciary liability … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, best interest, 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, investments, Mutual funds, pension plans, plan sponsors, prudence, Reg BI, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 403b, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, investment advisers, plan participants, plansponsors, retirement plans
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“Meaningful Choices”: Cost-Efficiency, the CommonSpirit Health decision, and the Future of 401(k) Litigation
Recently, the Sixth Circuit handed down its decision in the Smith v. CommonSpirit Health (“CommonSpirit) 401(k) action.1 My immediate reaction was “hello again SCOTUS,” as once again we have inconsistent and irreconcilable rulings between two circuits involving ERISA litigation The … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, best interest, closet index funds, 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, wealth management, wealth preservation
Tagged 401k, 401k compliance, compliance, cost-efficiency, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, investment advisers, plansponsors, retirement plans
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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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Heuristics, Cognitive Biases and 401(k)/403(b) Fiduciary Decision-Making
The number of 401(k)/403(b) cases continues to grow. And it will continue to do so unless and until plan sponsors take the time to truly understand their legal responsibilities and adjust their plans accordingly. I am on record as saying … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary standard, investments, retirement plans, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k litigation, 403b, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, investment advisers, plansponsors, retirement plans, trustees, trusts
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The Prudent Investment Fiduciary Rules 
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