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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.
DOL’s Fiduciary Rule Advances to OMB; Not Everyone is Happy about It

DOL’s Fiduciary Rule Advances to OMB; Not Everyone is Happy about It

By: Eric Droblyen

March 4th 2015

Why the DOL’s Fiduciary Rule is good news for small business retirement plans.
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NAPA stakes a position against the DOL’s fiduciary rule

NAPA stakes a position against the DOL’s fiduciary rule

By: Eric Droblyen

January 26th 2015

NAPA is missing the point of a fiduciary rule. DOL is saying it’s too easy for unscrupulous or incompetent brokers to steer investors to products with higher fees.
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MassMutual settled its “functional fiduciary” lawsuit – a cause for hope for greater fee transparency.

MassMutual settled its “functional fiduciary” lawsuit – a cause for hope for greater fee transparency.

By: Greg Carpenter

November 10th 2014

MassMutual Life Insurance Company settled its functional fiduciary lawsuit. Revenue sharing payments were not disclosed to the plan sponsor.
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Edison International case highlights a needed reform: Share class restrictions in 401(k) plans.

Edison International case highlights a needed reform: Share class restrictions in 401(k) plans.

By: Greg Carpenter

October 23rd 2014

The time has come for share class reform in 401(k) plans. The use of multiple share classes for mutual funds in 401k plans is confusing small business retirement plan sponsors.
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Senate Finance Committee holds a hearing today on “Retirement Savings 2.0.” Here is what they should address to help small business retirement plans.

Senate Finance Committee holds a hearing today on “Retirement Savings 2.0.” Here is what they should address to help small business retirement plans.

By: Greg Carpenter

September 16th 2014

Congress should provide greater incentives, 401k participation should become a serious commitment by the employee for their small business retirement plans
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Former DOL Deputy Director declares scandal in IRA rollovers. It’s a scandal, just not the one he thinks it is.

Former DOL Deputy Director declares scandal in IRA rollovers. It’s a scandal, just not the one he thinks it is.

By: Greg Carpenter

August 20th 2014

The scandal is that we do not have fiduciary standards in place that require brokers and other advisors to act in the clients’ IRA best interests.
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Former Obama administration official offers a plan to “fix” the tax incentives for retirement plans. Here is why it is dead wrong.

Former Obama administration official offers a plan to “fix” the tax incentives for retirement plans. Here is why it is dead wrong.

By: Greg Carpenter

July 30th 2014

Prominent politico offers a plan for getting more people to save for retirement. Here’s why I disagree. Change tax laws, not 401k rules for retirement plans
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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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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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ERISA Section 404(c) turns forty this year. Here is a common sense proposal for meaningful reform.

ERISA Section 404(c) turns forty this year. Here is a common sense proposal for meaningful reform.

By: Greg Carpenter

April 3rd 2014

The Frugal Fiduciary proposes reform to ERISA Section 404(c) regulations – a safe harbor 401(k) plan that protects employees.
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