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The CommonSense 401k Project | Sound & simple solutions for 401k compliance
Description: Risk Management Solutions for Today's Investment Fiduciaries
James W. Watkins, III, J.D., CFP Emeritus TM , AWMA®
In Part 1 of “Knew or Should Have Known”: Annuities, Plan Sponsors, and Fiduciary Law,” I examined the basic structure of fiduciary law and some of the potential fiduciary liability issues posed by the inclusion of annuities within 401(k) and 403(b) plans. In this post, I want to address some of the key issues that plans sponsors and other investment fiduciaries should consider during the course of their required fiduciary investigations and evaluations.
Annuities are complex investments. During both my compliance and legal careers, I have been fortunate enough to have had three annuity experts that I knew that I could trust implicitly – Peter Katt, John Olsen, and most recently, Chris Tobe. Chris is one of the co-founders of the CommonSense 401(k) Fiduciary Project (commonsense401kproject.com). I highly recommend that anyone interested in potential fiduciary liability issues posed by annuities visit the Project’s web site and read Chris’ posts.
Fiduciary News | For the ERISA Professional
CommonSense InvestSense | The Power of the Informed Investor
The CommonSense 401k Project | Sound & simple solutions for 401k compliance