Landmark 404(c) leads to surge of activity in nation's 401(k) industry
Article Abstract:
The impact of the labor Department's long-awaited 404(c) regulations on the 401(k) industry and retirement plan sponsors is discussed. The new labor department regulations essentially prescribes that plan sponsors provide participants a choice of at least three different diversified investment options. These may include a stock, a bond and a money market fund. Plan participants are also allowed to switch from one investment mode to another on at least a quarterly basis.
Publication Name: Pension World
Subject: Human resources and labor relations
ISSN: 0098-1753
Year: 1993
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Truth of a trite truism: discretionary authority a new plan sponsor trap
Article Abstract:
The Dept of Labor (DOL) interprets Sec 404(c)(2) of the Employee Retirement Income Security Act (ERISA) in a stringent manner, quite apart from what Congress had originally intended. The DOL's official policy from the beginning of ERISA's enactment in 1975 was not to uphold Sec 404(c) provisions. Fiduciary responsibility and other matters pertinent to ERISA is not clearly defined in DOL guidelines.
Publication Name: Pension World
Subject: Human resources and labor relations
ISSN: 0098-1753
Year: 1992
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Where does the buck stop in 401(k) fees and expenses?
Article Abstract:
Employee benefit plan sponsors need to know what fees and expenses can be charged against plan assets for them to continue enjoying the protection afforded by section 404(c) of the ERISA of 1974. However, the Department of Labor has not issued specific guidelines on this issue. Six types of companies which will likely be considered as payable from plan assets are identified.
Publication Name: Pension World
Subject: Human resources and labor relations
ISSN: 0098-1753
Year: 1993
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