At the beginning of 2010 the Investment Company Institute (ICI) released an article titled “Dispelling Target Retirement Date Fund Myths with the Facts.” This article appeared on the ICI website and was sent out widely across the industry. The article contained a list of six “myths” about target date funds that the ICI attributed to [...]

H.R.2989: 401(k) Fair Disclosure and Pension Security Act of 2009

Chairman George Miller’s latest bill to address issues in the retirement plan marketplace, H.R.2989, has two significant sections for the defined contribution marketplace. The first, “401k Fair Disclosure for Retirement” requires enhanced fee disclosures to plan sponsors and participants. The second, “Prohibition of Conflicted Investment Advice” [...]

This Wednesday June 17th the House Committee on Education and Labor will meet to markup H.R. 1984, the 401k Fair Disclosure for Retirement Security Act of 2009. BrightScope has reviewed the bill in its current form and has expressed its full support for the legislation in a letter to the committee members. No piece of [...]

Back in January, when BrightScope CEO Mike Alfred started calling 2009  the “Year of Transparency”, very few people took him seriously.  Gradually however this idea is taking hold.  Here are some recent events, articles and thoughts that align on this issue:

New President Barack Obama pledges to run the “most open and transparent government in History.”
Wired [...]

At BrightScope we are absolutely committed to bringing an increased level of transparency to the 401k market.  We believe that transparency will restore confidence in the 401k system and benefit all of the participants who rely upon 401k plans for a portion of their retirement income.  In that spirit, we mailed a letter this week [...]