Last week the Government Accountability Office (GAO) released a study on the impact of conflicts of interest on DB and DC plans.
Here is a highlight:
Conflicts of interest can adversely affect both DB and DC plan designs, with the primary difference being in who bears the cost of their potentially adverse effects on their rate of [...]
Below are 10 articles, blog posts, accouncements, tweets and other miscellaneous musings we deem worthy of your attention:
Attorney Stephen Rosenberg from the Boston ERISA Law Blog wrote an amazing post last week about how fiduciary responsibility might shift in an era of total fee transparency. Stephen’s blog is an absolute must for anyone following ERISA [...]
The 60 minutes episode from last Sunday includes a fascinating piece of reporting about 401k plans. Steve Kroft really captures the pain of 401k participants. There are also interesting interviews with Congressman George Miller, Attorney Brooks Hamilton and PSCA President David Wray.
Many people have asked about the new 2009 Schedule C requirements, so I felt it was time to do a quick overview.
Major Changes:
Direct vs. Indirect Fees: Fees are separated into those paid directly by the plan and those received indirectly from another service provider.
New Language: “You must complete this Part, in accordance with the instructions, [...]
Over the past two weeks BrightScope has rated several notable plans which can now be found on the BrightScope website:
Company
Net Assets
Lockheed Martin – $19,200,000,000
United Technologies – $13,700,000,000
Wells Fargo – $11,600,000,000
General Dynamics – $6,000,000,000
Kraft Foods – $5,430,000,000
HCA – $4,800,000,000
Caterpillar – $4,500,000,000
Sears – $4,300,000,000
Marriott – $3,100,000,000
UPS – $2,900,000,000
American Electric Power- $2,900,000,000
BrightScope has received a bunch of anecdotal evidence about the rise in ERISA litigation, but as a data and analytics company we much prefer real data over hearsay. Susan Mangiero has endeavored to provide the marketplace with real analytics about ERISA litigation. Yesterday, Pension Governance and the Michel-Shaked Group released their “ERISA Litigation Study” highlighting [...]
We have been speaking with many ERISA experts recently who constantly bemoan how the courts just can’t seem to get their arms around ERISA. When we saw this “Courtoon” we just couldn’t resist re-posting:
Via David Mills’ Courtoons.
