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Topic:
Benchmarking a 401(k) Plan
Date:
May 10, 2012 at 11:00 - 12:00 PM ETPresenters:
Dorann Cafaro, Senior Vice President(Fiduciary Benchmarks)
Register for the Virtual Conference to obtain webcast schedule and registration access by clicking on the 'view event' button below.
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Description
This presentation will discuss what benchmarking is and the importance of benchmarking qualified plans. Who needs to benchmark and why? It will detail how to benchmark a 401(k) plan. Are there any consequences to fiduciaries if they do not meet ERISA rules? We will discuss benchmarking ties to value and services. What is driving a benchmarking focus? What has changed in fee disclosure legislation, litigation and regulation?
How do go about benchmarking? We will look at the requirements of data collection and the building of the correct comparison group. We will discuss the different providers and how their fees are paid. How does each service provider compare to his or her benchmark? We shall discuss the unique factors in fee disclosure for investment options. We will walkthrough how to build a benchmark report reviewing what you need to look for to make sure you have a statistically viable, defendable documentation of fee disclosure. Then we look at an actual benchmark report uncovering all the nuances that are important for documenting reasonableness as required by 408(b)(2). How do you benchmark for value and services rendered? You will learn how to uncover hidden fees. You will learn how to review investment options’ fees looking for how they are paid, to whom and whether the payment structure is in the best interests of the participant. We will discuss investment disclosure issues that may change how your plan handles fee payments in light of participant fee disclosure under 404(a)(5). Finally we will consider why benchmarking a plan is an insurance policy for potential litigation. |
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Who Should Participate
HR, finance or plan fiduciaries that are responsible for the qualified plans or who touch participants in their plans.
What You Will Learn
You will learn more about what is driving plan benchmark reports, how to benchmark a plan and why they are important. You will better understand what are the new responsibilities placed on plan fiduciaries, plan sponsors and those who work with company benefit delivery to their employees and how benchmark report can protect you.
Recommended Resources
Google Fee Disclosure and Benchmarking plans, DOL website for Final 408(b)(2) Regulations, Google litigation over fee reasonableness Communities
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Presented by
Event Sponsors
Fiduciary Benchmarks
NULL
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