Advisers that work with ERISA plans will need to be ERISA fiduciaries.Arguably it’s already tough to win a piece of ERISA business against an adviser willing to claim fiduciary status. But I think we’ve already passed the tipping point, and if market forces weren’t sufficiently persuasive, the regulators now seem determined to press the issue.
The company retirement plan has become more visible with all the attention the crisis and Congress‘s concern. With baby boomers facing retirement very soon and the budget deficit being front and center this attention will magnify.
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- Proposed Changes to 401k Plans: Know What is at Stake! (prweb.com)
- Plan sponsors to rely more on advisors (401kplanadvisors.com)