Bonnie Treichel: Lessons Learned from Litigation

Be More Than A Fiduciary

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State Secrets: Inside The Making Of The Electric State

1
Family Secrets: Chris Pratt & Millie Bobby Brown Share Stories From Set 22:08

för 9 dagar sedan22:08

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Listor

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22:08

Host Francesca Amiker sits down with directors Joe and Anthony Russo, producer Angela Russo-Otstot, stars Millie Bobby Brown and Chris Pratt, and more to uncover how family was the key to building the emotional core of The Electric State . From the Russos’ own experiences growing up in a large Italian family to the film’s central relationship between Michelle and her robot brother Kid Cosmo, family relationships both on and off of the set were the key to bringing The Electric State to life. Listen to more from Netflix Podcasts . State Secrets: Inside the Making of The Electric State is produced by Netflix and Treefort Media.…

för ungefär ett år sedan 31:53

MP3•Episod hem

Bonnie’s passion is sharing her knowledge with financial advisors. When she founded Endeavor Retirement, her goal was to make retirement legislation easy to understand. She keeps advisors up to date on the rules and regulations through her webinars, presentations, and consultations. The result — advisors and consultants help more people access their retirement savings.

In this episode, Eric and Bonnie Treichel discuss:

Next practices when making meeting minutes
How much is enough
What SHOULD be included
What is unnecessary
Avoiding potential issues by following the plan document
Documenting processes in target date funds
ESG is an extension of the fiduciary process

Key Takeaways:

When making meeting minutes, strike the perfect balance between including enough information to demonstrate loyalty and prudence without being overly detailed. Avoid having conflicting sets of minutes. Document who was present, what their role is, and the topics covered. Include supporting documents and references in meeting minutes.
Follow the plan document to avoid potential issues with compliance, forfeiture accounts need to be spent according to the plan document. One way where advisors can help out plan sponsors is with fiduciary calendars and checklists.
Follow a prudent process with target date funds and document that process. As an advisor, you must help plan sponsors with benchmarking and RFPs. Commit to regularly reviewing the DOL’s 2013 Target Date Fund Tips.
ESG is not a separate process but an extension of the existing fiduciary process. Document the rationale for including ESG factors and ensure that they are in the best financial interest of participants.
Advisors need to help plan sponsors understand their fiduciary liability insurance and their role as a fiduciary.

“It's up to us over time to piece together these best practices. This is iterative, you have to meet people where they are. So you should do a more comprehensive fiduciary training once a year.” - Bonnie Treichel

Connect with Bonnie Treichel:

Website: https://endeavor-retirement.com/

LinkedIn: https://www.linkedin.com/in/bonnietreichel/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.

The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.

107 episoder

#MBA #Trading #Business #Podcasting Education #Eric Dyson

Be More Than A Fiduciary

Bonnie Treichel: Lessons Learned from Litigation

Be More Than A Fiduciary

published för ungefär ett år sedan

Dela

MP3•Episod hem

In this episode, Eric and Bonnie Treichel discuss:

Next practices when making meeting minutes
How much is enough
What SHOULD be included
What is unnecessary
Avoiding potential issues by following the plan document
Documenting processes in target date funds
ESG is an extension of the fiduciary process

Key Takeaways:

When making meeting minutes, strike the perfect balance between including enough information to demonstrate loyalty and prudence without being overly detailed. Avoid having conflicting sets of minutes. Document who was present, what their role is, and the topics covered. Include supporting documents and references in meeting minutes.
Follow the plan document to avoid potential issues with compliance, forfeiture accounts need to be spent according to the plan document. One way where advisors can help out plan sponsors is with fiduciary calendars and checklists.
Follow a prudent process with target date funds and document that process. As an advisor, you must help plan sponsors with benchmarking and RFPs. Commit to regularly reviewing the DOL’s 2013 Target Date Fund Tips.
ESG is not a separate process but an extension of the existing fiduciary process. Document the rationale for including ESG factors and ensure that they are in the best financial interest of participants.
Advisors need to help plan sponsors understand their fiduciary liability insurance and their role as a fiduciary.

Connect with Bonnie Treichel:

Website: https://endeavor-retirement.com/

LinkedIn: https://www.linkedin.com/in/bonnietreichel/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.

107 episoder

#MBA #Trading #Business #Podcasting Education #Eric Dyson

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Be More Than A Fiduciary

1
FF5 #54 - 3(21) vs 3(38) 9:36

för 2 dagar sedan9:36

9:36

In this episode of Friday Fiduciary Five , Eric Dyson breaks down the key differences between ERISA 3(21) investment advisors and ERISA 3(38) investment managers. He explains how these roles impact plan sponsors, committee responsibilities, and investment decision-making. Eric highlights the main advantage of hiring a 3(38) investment manager. He also discusses the cost structure, the importance of monitoring fiduciary duties, and the potential risks of over-delegation. For plan sponsors deciding between these two fiduciary roles, he provides practical guidance on evaluating advisors, understanding the investment policy statement, and ensuring clear communication with service providers. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Marcia Wagner: Adopting Best Practices 40:39

för 4 dagar sedan40:39

40:39

Marcia Wagner is the founder of The Wagner Law Group, one of the nation’s largest and most highly regarded law firms specializing in ERISA, employee benefits, and executive compensation, and has practiced employee benefits law for over 38 years. Ms. Wagner is an authority on qualified and non-qualified plans, fiduciary issues, deferred compensation, and welfare benefit arrangements, with experience in plan design and drafting, compliance, tax planning, and consultation on all aspects of ERISA and the Internal Revenue Code. Ms. Wagner also serves as an expert witness in ERISA litigation. Ms. Wagner has recently been appointed to the Board of Directors for the American Benefits Council, as well as a Member to the Board of Governors of the American College of Employee Benefits Counsel. Ms. Wagner has written hundreds of articles and 27 books. She is a highly sought after lecturer, is widely quoted in financial journals and has been a guest on Fox, CNN, Bloomberg, and NBC. In this episode, Eric and Marcia Wagner discuss: Committing to continually enhancing services Best practices that benefit professionals must follow Adopting investment policy statements and other governance documents Doing things with integrity and excellence Key Takeaways: Providers must continually enhance services to meet evolving industry standards, legal requirements, and client expectations. Benefit professionals should follow best practices, such as documenting processes, monitoring fees, evaluating service providers through RFPs and benchmarking, and thoroughly documenting meeting minutes to demonstrate prudent fiduciary processes. Investment policy statements, although not legally mandated, are considered fiduciary best practices for retirement plans and should be treated as plan documents if adopted. Believe in the industry's support for the middle class and social stability, maintaining humanity, generosity, flexibility, enthusiasm, pursuing excellence and integrity, and embracing the notion that everything will work out in the end. “Remember your humanity, and don't let the bastards get you down because you will encounter people who are good. Have a generous heart and just be as flexible as you can be. Be open to things that are new. Be enthusiastic. Try to do what you do with excellence and integrity.” - Marcia Wagner Connect with Marcia Wagner: Website: https://www.wagnerlawgroup.com/attorney/wagner-marcia-s/ LinkedIn: https://www.linkedin.com/in/marciawagner Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #53 - Your IPS for Target Date Funds 11:37

för 9 dagar sedan11:37

11:37

In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of investment policy statements (IPS) for target date funds (TDFs). He emphasizes the need for well-crafted IPS sections specifically for TDFs, cautioning against over-reliance on custom benchmarks that often fail to provide meaningful comparisons. Eric likens TDF evaluation to a fruit salad, underscoring the complexity of assessing multiple funds with varying glide paths and strategies. He advocates for conducting a glide path determination to align the TDF's risk level with plan demographics and participant needs, whether conservative or aggressive. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
David White & Raechel Peters: Solving Employee Financial Stress with Smart Voluntary Benefits 36:04

för 11 dagar sedan36:04

36:04

In 1989, entrepreneur and sales professional David White began using payroll deductions through his successful companies, The Corporate Shoe and Corporate Warehouse Club. He operated seven employee stores at major companies like Texas Instruments, Lockheed Martin, and Frito-Lay and sponsored sales at Fortune 500 companies nationwide. In 2002, he applied this model to onsite sale events at over 40 major hospitals in the southern U.S., making them top fundraising activities. His extensive experience in retail and payroll purchasing has given him deep insight into buying preferences and trends. With letters of recommendation from nearly every key account he has ever managed, David’s work ethic and genuine interest in satisfying the customer have translated into long-term relationships. Raechel Peters is the President of BenefitsMe, a company focused on enhancing financial wellness in employee benefits through its Employee Purchasing Assistance Program. A strategic leader, Raechel has been instrumental in shaping the company’s strategy, driving growth, and delivering exceptional experiences for both clients and users. With a strong background in leadership, marketing, operations, and strategic planning, she is dedicated to advancing innovation in the employee purchasing space and expanding access to financial wellness solutions. In this episode, Eric, David White, and Raechel Peters discuss: Financial Stress is Widespread BenefitsMe Offers a No-Interest Solution for Necessary Household Purchase Items Easy Implementation and Low Risk Versatile Benefit Across Income Levels Financial Wellness and Financial Literacy Program Included Key Takeaways: 67% of Americans are worried about the cost of living, 77% live paycheck to paycheck, and 97% of employees spend time worrying about personal finances at work. The program allows employees to purchase essential items (like appliances, electronics, and travel) through payroll deduction with 3-12 month terms and zero interest, helping them avoid high-interest debt. The program requires minimal effort to set up (4-6 hours), comes with a free financial wellness module, and the company assumes the risk if an employee terminates before paying off their purchase. The program is beneficial for employees across all income brackets, not just low-wage workers, as personal financial challenges can affect anyone regardless of salary. “One thing that really ensures that it's going to be a successful launch and a successful partnership is communication with the program sponsor and our team.” - Raechel Peters Connect with David White & Raechel Peters: Website: https://benefitsme.com/ Email: davidwhite@benefitsme.com , raechelpeters@benefitsme.com Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #52 - Is the IPS a "Plan Document?" 8:02

för 16 dagar sedan8:02

8:02

In this episode of Friday Fiduciary Five, Eric talks about the importance of the Investment Policy Statement (IPS) as a plan document under ERISA. He references Interpretive Bulletin 2016-1, which clarifies that the IPS is a written guideline for fiduciaries, essential for maintaining plan investments. Eric emphasizes that drafting an IPS is a fiduciary act and must be adhered to unless it would be imprudent to do so. He cites a quick example of when that may not be prudent or appropriate in the case of a well-funded pension plan preparing to terminate which may want to have all assets in cash or other instruments for preservation of capital.. He advises against NOt having as IPS, as it provides a roadmap for fiduciaries, ensuring compliance with ERISA and maintaining prudence and loyalty in investment decisions. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Chelle O'Keefe and Janine Moore: The Right Enterprise Benefit Strategy and The Right Partner 43:56

för 18 dagar sedan43:56

43:56

Chelle O'Keefe, SPHR is a seasoned HR executive with over 20 years of experience, specializing in fostering growth and vibrant workplace cultures. As Chief People Officer at Platinum Dermatology Partners, she drives initiatives that build cohesive cultures, optimize processes, and elevate company results. Previously, as EVP and CHRO at Associa, Chelle championed innovative HR methodologies and diversity initiatives, significantly reducing employee turnover and increasing leadership diversity. She holds a BS in Psychology from Texas A&M University and an MS in Industrial/Organizational Psychology from Capella University. Passionate about creating workplaces where people thrive, Chelle’s expertise spans HR, change management, training, and marketing strategy. Janine Moore, AIF®, CPFA, CFS has over 25 years of financial services experience. She co-founded Peak Financial Group in 2002 and served as Principal until the HUB International acquisition in 2019. Janine specializes in 457(b) and 401(a) governmental deferred compensation plans and served as the City Director for the City of Houston’s deferred compensation plan for six years. Recognized as a Top Women Advisor All Star and Captain, she has led professional and non-profit organizations committed to improving lives and promoting women in business. Janine holds a BA in Journalism and Public Relations from The Ohio State University and multiple registrations through LPL Financial. She is also registered with Global Retirement Partners as an Investment Advisor Representative. A proud veteran, she served as a Staff Sergeant with the Ohio Air National Guard and received the Air Force Achievement Medal. In this episode, Eric, Chelle O'Keefe, and Janine Moore discuss: Benefit philosophy matters Building trust and partnership The potential for underutilized plans Building trust and transparency Simplify and educate Key Takeaways: Companies should intentionally develop a clear benefit philosophy that reflects their goals, demographics, and employee needs, rather than just maintaining a status quo plan. Successful service provider relationships are built on more than just expertise - they require listening, education, transparency, and the ability to have difficult conversations. Even seemingly neglected or underutilized 401(k) plans can be transformed through collaborative efforts, persistent advisors, and a commitment to participant outcomes. Financial professionals should focus on simplifying complex concepts, seeing the potential in plans, and educating clients in a way that doesn't make them feel overwhelmed or inadequate. “We are the reflection of all of the people that we spend the most time with.” - Chelle O'Keefe Connect with Chelle O'Keefe: LinkedIn: https://www.linkedin.com/in/chelleokeefe/ Connect with Janine Moore: LinkedIn: https://www.linkedin.com/in/janinejeffersonmoore/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

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FF5 #51 - A Few of My Favorite Things - Revenue Share and Participant Fee Disclosures 13:26

för 23 dagar sedan13:26

13:26

In this episode of Friday Fiduciary Five, Eric Dyson talks about Field Assistance Bulletin 2012-02R, focusing on participant-directed accounts and disclosure regulations (404(a)-5). Eric points out some details that are not commonly understood by many advisors and plan fiduciaries. He emphasizes the need for clear, understandable fee disclosures to participants, particularly those using revenue share or per capita fees. Eric highlights that fees must be expressed in terms a typical participant can understand. He provides examples from the bulletin, such as explaining legal expenses and record-keeping costs. Eric advises plan sponsors and advisors to collaborate and consult legal counsel to ensure compliance with these disclosure requirements. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
Jason Levy: The ABCs of CITs 24:51

för 25 dagar sedan24:51

24:51

Jason is a key advisor at Great Gray Trust Company, specializing in CIT eligibility and investment-related matters. He negotiates agreements with plans, subadvisors, and service providers. Previously, Jason spent 13 years at Covington & Burling LLP, focusing on ERISA investing and policy issues. Committed to retirement policy, he has a proven track record of legislative and policy changes. Jason holds a JD from Columbia University and a BA from the University of Pennsylvania. He serves on the Pension Rights Center Board and frequently speaks at industry events, shaping the future of retirement planning. In this episode, Eric and Jason Levy discuss: The growing popularity of CITs Regulations involving CITs CIT availability Why fiduciaries should consider CITs Key Takeaways: Collective Investment Trusts (CITs) are growing in popularity as a cost-effective alternative to mutual funds for retirement plans, offering similar investment strategies at lower costs. CITs are regulated under a regime tailored specifically for retirement plans, providing enhanced investor protections compared to mutual funds. Historically, CITs were only accessible to the largest retirement plans, but minimum investment requirements have decreased, making them available to smaller and mid-sized plans as well. Plan fiduciaries and advisors should consider adding CITs to their investment lineups, as the cost savings can significantly impact participant retirement outcomes over time. “Even in the small plan market, CITs are available, even the smallest plans through those aggregators would be able to access CITs. Regardless of the size of your plan, CIT should be on your radar.” - Jason Levy Connect with Jason Levy: Website: https://greatgray.com/ Email: jason.levy@greatgray.com LinkedIn: https://www.linkedin.com/in/jason-levy-19783a17/ Great Gray Trust Company, LLC Collective Investment Funds (“Great Gray Funds”) are bank collective investment funds; they are not mutual funds. Great Gray Trust Company, LLC serves as the Trustee of the Great Gray Funds and maintains ultimate fiduciary authority over the management of, and investments made in, the Great Gray Funds. Great Gray Funds and their units are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933, respectively. Investments in the Great Gray Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Great Gray Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Great Gray Funds. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change. It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #50 - A Few of My Favorite Things - Per Capita or Pro Rata? 10:48

för 4 weeks sedan10:48

10:48

In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor Field Assistance Bulletin 2003-03, which provides guidance on how to allocate plan expenses among participants. He discusses that plan sponsors should consider writing checks for plan expenses as an effective way to manage risks in regard to plan fees. Eric explains that per FAB 2003-03 ERISA does not specify a method for fee allocation, giving fiduciaries considerable discretion. He stresses the need for a deliberative process to weigh competing interests and ensure the method chosen is solely in the interest of participants, provided it has a rational basis. Eric also warns that methods unfairly benefiting committee members could raise prohibited transaction issues. He advises reviewing this bulletin in upcoming committee meetings. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Patrick Williams: Fiduciary in a Box 37:54

för 5 weeks sedan37:54

37:54

Patrick Williams has over 39 years of experience in retirement and employee benefits consulting. As the co-founder of Fiduciary in a Box®, he has created a cloud-based solution to help employers manage their fiduciary responsibilities effectively. With his deep understanding of the Consolidated Appropriations Act of 2021, Patrick offers invaluable insights to ensure compliance with evolving regulations for ERISA health plans. Patrick earned a Bachelor of Arts in Finance from the University of Minnesota and holds the Accredited Investment Fiduciary® (AIF®) designation. He has served as president of the Minnesota Association of Health Underwriters and is a founding member of the Minnesota and Florida Fiduciary Roundtables. A dynamic speaker, Patrick simplifies complex topics for his audience, making his presentations both educational and impactful. He is dedicated to guiding organizations toward achieving fiduciary excellence. In this episode, Eric and Patrick Williams discuss: Comprehensive solution for fiduciary responsibilities Critical coverage areas for health plans and retirement plans Who can benefit from Fiduciary in a Box? Establishing repeatable processes as a manager Key Takeaways: Fiduciary in a Box is a comprehensive solution that helps you manage fiduciary responsibilities for both retirement and healthcare plans, providing a repeatable process and documentation. The platform covers critical areas such as governance, risk management, vendor relationships, and compliance with regulations like the Consolidated Appropriations Act (CAA). Fiduciary in a Box can be leveraged by various professionals, including employee benefits consultants, retirement plan consultants, and organizations focused on addressing healthcare cost and transparency challenges. As a young benefit manager, you can use Fiduciary in a Box to establish a repeatable process, evaluate vendor relationships, and communicate your organization's commitment to managing costs and compliance to participants and committees. “We've created a solution that you can manage both of those responsibilities: retirement plan, and health care, with one product, which is fiduciary in a box.” - Patrick Williams Connect with Patrick Williams: Website: https://www.fiduciaryinabox.com LinkedIn: https://www.linkedin.com/in/corporatefiduciary/ | https://www.linkedin.com/company/fiduciaryinabox/?viewAsMember=true Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #49 - Plan Forfeiture Lawsuits - Part 2 7:22

för 5 weeks sedan7:22

7:22

In this episode of Friday Fiduciary Five, Eric Dyson talks about forfeiture lawsuits in defined contribution plans, emphasizing the importance of understanding both IRS regulations and ERISA rules. He explains that forfeitures can be used to pay plan expenses, fund employer contributions, or provide additional benefits to participants in defined contribution plans. Eric advises reviewing plan documents and considering a waterfall provision for forfeiture use. He also highlights a recent lawsuit by the Schlichter firm against Charter Communications, alleging the plan document was not followed by failing to prioritize paying plan expenses first. Eric stresses the need for plan committees to consult with attorneys, record keepers, and advisors to ensure compliance. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Robin Green: Advisor Search Best Practices 45:45

för 6 weeks sedan45:45

45:45

For over 30 years, Robin Green has provided Investment Consultants and DC Advisors with competitive analyses, practice management coaching, client service strategies, and sales consulting. She started her career as a plan sponsor, overseeing retirement plans in the healthcare and manufacturing sectors. After being recruited by Ann Schleck at Deloitte Consulting, she dedicated 11 years to the retirement plan and health benefits industries. Prior to launching her own consulting firm in 2017, she served as Head of Research at Ann Schleck & Co., and then as Senior Vice President at Fi360 where she managed the Fiduciary Score. Throughout 2023 and 2024, Robin collaborated with many of the top 100 DC Advisor practices in the United States to help them benchmark their business against industry standards. This work involved RFP analysis, win/loss assessments, client satisfaction research, client retention strategies, and a competitive review of products and services, as well as coaching on business models and internal processes. Her consulting practice is underpinned by confidential, competitive insights collected from retirement advisors through the 2024 Level Up - DC Advisor Practice Management Benchmarking Study, which engaged 84 DC Specialist Advisors across 319 offices. Robin and her team conducted both qualitative interviews and quantitative research to gain insights into how retirement specialists manage their operations. Fortune 500 Benefit Providers engage Robin and WinMore Plans for ongoing coaching aimed at enhancing RFP responses, strengthening sales relationships, and ultimately securing more business. Robin provides tailored coaching, develops impactful messaging and collateral, refines existing communication, and streamlines processes to enhance efficiency and improve win rates. In this episode, Eric and Robin Green discuss: Making communications client-centric Finding the right cultural fit Having the right attitude during the search process Benchmarking against industry standards Key Takeaways: Advisors should focus on using "you/your" language in their written communications rather than "we/I/us" to make it more client-centric. Plan sponsors should work with a professional to conduct a thorough advisor evaluation and RFP process to ensure they find the right cultural fit. Both advisors and plan sponsors should be kind and appreciative throughout the advisor search process, even for those not selected. Advisors should learn more about benchmarking their practices against industry standards and strategies so that they could win more business. “The number one reason why I see plan sponsors choose one firm over another, is chemistry.” - Robin Green Connect with Robin Green: Website: https://winmoreplans.com/ LinkedIn: https://www.linkedin.com/in/robingreen/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
FF5 #48 - The Death of Revenue Share 6:57

för 6 weeks sedan6:57

6:57

In this episode of Friday Fiduciary Five, Eric Dyson talks about the persistence of revenue share in 401(k) plans, despite some advisors and plan sponsors moving away from it. He highlights a significant flaw in the thinking and fiduciary process that revenue share can be used to “hide” from the participants (to a degree) fees assessed to their account(s). Eric emphasizes the importance of understanding revenue share and considering other potential options for fee structures. He references Field Assistance Bulletins 2012-02r and 2003-03, which outline disclosure requirements. He notes that many plans that use revenue share do not in his opinion meet the intent of FAB 2012-02r and stresses the need for clear communication to participants. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

Be More Than A Fiduciary

1
Emily Short: Cyber Risk and Cyber Insurance Principles 38:00

för 7 weeks sedan38:00

38:00

Emily Perry Short is currently the National Director of Cyber Product at The Baldwin Group regularly consulting on cyber risk management and insurance solutions across a variety of industries with a particular focus on technology, venture capital, and private equity risks. Emily has been in insurance in a variety of forms since 2014, originally as a lawyer focusing on professional liability insurance defense. Her experience as both a defense attorney and a cyber and technology broker gives her a unique perspective when it comes to analyzing cyber risks for clients. In addition to her Juris Doctor, Emily holds the Certified Information Privacy Professional (CIPP/US) designation, Cyber COPE designation from Carnegie Mellon, and the Registered Professional Liability Underwriter (RPLU) designation. In January, after a number of years on the Executive Committee, Emily stepped into the role of Chairwoman for TechAssure, an international association of insurance brokers specializing in technology-related risks. She regularly speaks on panels as a subject matter expert on cyber and technology risks. She is licensed to practice law in Kansas and Missouri. In this episode, Eric and Emily Short discuss: Four basic principles of risk management Working with a broker that can give appropriate coverage The risk of cyberattack incidents Cybersecurity is the responsibility of the whole organization Key Takeaways: Cyber risk management, like any risk management, involves 4 main concepts - accept the risk, avoid the risk altogether, transfer the risk, and mitigate the risk. Organizations should utilize a combination of these strategies. Cyber insurance policies are not standardized, so it's important to work with a broker who understands the nuances between different carrier policies and can help analyze the appropriate coverage. Cyber incidents can have significant financial and reputational impacts on organizations, so having an incident response plan that is regularly tested is crucial for being able to respond effectively. Cybersecurity is everyone's responsibility within an organization, not just the IT department's. Educating and training employees on cyber risks and best practices is essential for prevention. “Humans are the weak link. Here we are the ones who click on the phishing email. We reuse passwords when we shouldn't.” - Emily Short Connect with Emily Short: Website: https://baldwin.com/ LinkedIn: https://www.linkedin.com/in/emilyperryshort/ Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made. The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.…

Be More Than A Fiduciary

1
Fiduciary vs Settlor Decisions 8:50

för 7 weeks sedan8:50

8:50

In this episode of Friday Fiduciary Five, Eric Dyson talks about the differences between fiduciary and settlor decisions in the context of ERISA plans. Fiduciary decisions, such as cost and investment monitoring, must be made in the best interest of plan participants with a duties of loyalty and prudence. Settlor decisions, like plan design and plan benefit levels, involve aspects like matching contributions and auto-enrollment. Eric emphasizes the importance of committee members, particularly those involved with decisions made on behalf of the company, such finance professionals and in-house counsel, wear two different hats: one for the company and one for the plan participants. The two hat metaphor is not always simple and not always black and white, but serves as a foundation for making appropriate decisions as a fiduciary matter or as a settlor. Connect with Eric Dyson: Website: https://90northllc.com/ Phone: 940-248-4800 Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information contained herein is general in nature and is provided solely for educational and informational purposes. It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice. The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.…

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