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
Why the DOL’s Fiduciary Rule is good news for small business retirement plans.Read More
NAPA stakes a position against the DOL’s fiduciary rule
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.Read More
MassMutual settled its “functional fiduciary” lawsuit – a cause for hope for greater fee transparency.
MassMutual Life Insurance Company settled its functional fiduciary lawsuit. Revenue sharing payments were not disclosed to the plan sponsor.Read More
Edison International case highlights a needed reform: Share class restrictions in 401(k) plans.
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.Read More
Senate Finance Committee holds a hearing today on “Retirement Savings 2.0.” Here is what they should address to help small business retirement plans.
Congress should provide greater incentives, 401k participation should become a serious commitment by the employee for their small business retirement plansRead More
Former DOL Deputy Director declares scandal in IRA rollovers. It’s a scandal, just not the one he thinks it is.
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.Read More
Former Obama administration official offers a plan to “fix” the tax incentives for retirement plans. Here is why it is dead wrong.
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 plansRead More
GAO suggests changes to the Form 5500 to promote clarity and consistency. We agree.
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.Read More
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.
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 plansRead More
ERISA Section 404(c) turns forty this year. Here is a common sense proposal for meaningful reform.
The Frugal Fiduciary proposes reform to ERISA Section 404(c) regulations – a safe harbor 401(k) plan that protects employees.Read More