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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 Fiduciary Rule: Good for Business But Opposed by the U.S. Chamber of Commerce

DOL Fiduciary Rule: Good for Business But Opposed by the U.S. Chamber of Commerce

By: Eric Droblyen

May 3rd 2017

The employer benefits of the DOL Fiduciary Rule should get more attention. The regulation will lower 401(k) fees, and in turn, reduce fiduciary liability.
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Government Shocker! The 401(k) Form 5500 May Become Useful Soon

Government Shocker! The 401(k) Form 5500 May Become Useful Soon

By: Eric Droblyen

September 21st 2016

The government is proposing substantial changes to the Form 5500 for 2019. These changes would make 401k information more accessible to stakeholders.
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What’s the #1 Reason for 401(k) Lawsuits?  Overpriced or Superfluous 401(k) Services

What’s the #1 Reason for 401(k) Lawsuits?  Overpriced or Superfluous 401(k) Services

By: Eric Droblyen

May 4th 2016

The DOL’s new fiduciary rule will make the value of 401k services more important than ever. Small business 401k fiduciaries should root out overpriced or superfluous 401k services to protect themselves from personal liability.
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Will Trial Lawyers be the Sole Beneficiary of a Watered-Down Fiduciary Rule?

Will Trial Lawyers be the Sole Beneficiary of a Watered-Down Fiduciary Rule?

By: Eric Droblyen

July 29th 2015

DOL’s fiduciary rule is good news for 401(k) lawyers, bad news for 401(k) advisors, 401(k) fiduciaries and participants.
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The DOL’s Fiduciary Rule: Why Can’t Regulators do Simple?

The DOL’s Fiduciary Rule: Why Can’t Regulators do Simple?

By: Eric Droblyen

June 17th 2015

DOL regulations make it difficult for small business 401k plan sponsors to meet their fiduciary responsibilities.
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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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