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The Frugal Fiduciary Small Business 401(k) Blog

Get the latest industry news, deadlines and tips you need to know to help tackle your fiduciary responsibility needs.
Revenue sharing is on the decline in 401(k) plans. Three reasons why it will soon be gone altogether.

Revenue sharing is on the decline in 401(k) plans. Three reasons why it will soon be gone altogether.

By: Greg Carpenter

July 16th 2014

Revenue sharing is the practice of adding additional non-investment related fees to the expense ratio of a mutual fund. The investors don’t see the fees being deducted.
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GAO suggests changes to the Form 5500 to promote clarity and consistency. We agree.

GAO suggests changes to the Form 5500 to promote clarity and consistency. We agree.

By: Greg Carpenter

July 10th 2014

401k service providers dislike Form 5500 because completing the form for clients is like playing a game of Twister. Form 5500 fee disclosures are not consistent with others.
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Low-cost target date index funds will fundamentally reshape the market for small business retirement plans – and soon!

Low-cost target date index funds will fundamentally reshape the market for small business retirement plans – and soon!

By: Greg Carpenter

June 25th 2014

Target date index funds (TDIFs) are universally available. TDIFs are cheap to own and trade. There are few or no restrictions on redemptions.
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Wall Street Journal article proposes sweeping changes to improve small business retirement plans – including simplifying fee disclosures and requiring index funds. Here’s our analysis.

Wall Street Journal article proposes sweeping changes to improve small business retirement plans – including simplifying fee disclosures and requiring index funds. Here’s our analysis.

By: Greg Carpenter

June 20th 2014

Employee Fiduciary breaks down Anna Prior, WSJ.com article (“How to Fix the 401(k)”) and the five reforms she recommends for small business retirement plans
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Employee Fiduciary Announces Free 401(k) Fee Comparison Service

Employee Fiduciary Announces Free 401(k) Fee Comparison Service

By: Greg Carpenter

June 5th 2014

Employee Fiduciary now offers a free 401(k) Fee Comparison Service. Employee Fiduciary wants to level the playing field on price, value, and service.
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Indirect compensation in small business retirement plans made a lot of sense in 1980. So did leisure suits. It’s time to move on.

Indirect compensation in small business retirement plans made a lot of sense in 1980. So did leisure suits. It’s time to move on.

By: Greg Carpenter

June 5th 2014

There is no longer a market efficiency argument for indirect compensation. Indirect compensation arrangements are now the primary means of 401k fee obfuscation
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Small business 401(k) participants using their 401(k) plans to save for retirement (!) Part 3 of 3

Small business 401(k) participants using their 401(k) plans to save for retirement (!) Part 3 of 3

By: Greg Carpenter

May 23rd 2014

Polling our small business 401k plan clients:  The frugal cutting edge in small business 401k investing is changing.
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Here’s how our small business 401(k) plan clients use low-cost investments. Not the conventional wisdom. Part 2 of 3

Here’s how our small business 401(k) plan clients use low-cost investments. Not the conventional wisdom. Part 2 of 3

By: Greg Carpenter

May 14th 2014

Our small business 401(k) plan clients choose ETFs with low costs and passive management. ETFs are positioned as core alternatives providing broad market exposure at a low cost.
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The Small Business 401(k) Plan in 2014: Our Clients Redefine the Conventional Wisdom - Part 1 of 3

The Small Business 401(k) Plan in 2014: Our Clients Redefine the Conventional Wisdom - Part 1 of 3

By: Greg Carpenter

May 7th 2014

Employee Fiduciary small business 401(k) plan blueprint focuses on use of index investments and other low cost investments, target date funds, ETFs and the leakage.
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Industry heavyweight SPARK weighs in on 408(b)(2) fee disclosure reform. We take issue with their key point.

Industry heavyweight SPARK weighs in on 408(b)(2) fee disclosure reform. We take issue with their key point.

By: Greg Carpenter

April 24th 2014

SPARK asserts the DOL failed to properly support the need for 408(b)(2) reform and to quantify its burden under Paperwork Reduction Act
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