NEHRA's Webinar Series
What Retirement Plan Sponsors Need to Know About Fee Transparency and Fiduciary Liability
Presented by Capital Management Partners, LLC
In 2012 the DOL issued fee disclosure rules for qualified plans under sections 408(b)2 and 404(a)5 of the ERISA code. These rules provided a new level of transparency to the retirement plan industry. Many plan sponsors do not realize the significant fiduciary responsibility they have in this area not only to make sure that their plan’s expenses are disclosed to plan participants, but also to examine whether the fees paid to service providers and other expenses of the plan are “reasonable.” This program will discuss how plan sponsors can satisfy these fiduciary obligations by benchmarking their retirement plan against similar plans in their industry.
What You Will Learn:
- Understanding plan sponsors’ fiduciary liability for ensuring that the fees they are paying to their plan’s service providers are reasonable.
- Why plan sponsors should establish an evaluation process to determine the “reasonableness” of their plan funding arrangements.
- Why it is so important for plan sponsors to educate participants about the impact of fees and expenses on their retirement savings.
LARRY ALBERT, CFP®, M.B.A., A.I.F.®
Larry Albert joined Capital Management Partners, LLC after spending over twenty years as a human resources and employee benefits executive within both the private and non-profit sectors, with a focus on retirement plans and compensation. Capital Management Partners, LLC offers fee-based investment and retirement strategies and services to 401(k) and 403(b) retirement plan sponsors and participants at over 100 organizations in the Boston area. Larry also has extensive experience helping individuals plan for successful retirements.
Larry is a CERTIFIED FINANCIAL PLANNER™ professional and holds an M.B.A. degree in Finance from Boston University. Larry is a FINRA Series 6, 7, 63, and 65 registered representative and an investment adviser representative with Commonwealth Financial Network® Member FINRA/SIPC, a Registered Investment Adviser. He also holds Life, Accident, and Health Insurance licenses, and is an Accredited Investment Fiduciary®.
Larry serves on the board of the Beverly Council on Aging, is a member of the North Shore United Way Allocations Committee and also serves in the Pro Bono Financial Coaching Program, a collaborative effort of the Dana-Farber Cancer Institute and the Financial Planning Association of Massachusetts.
Cost: Members - FREE Non-Members: $49
This program has been applied for 1.0 General Credit Hours.
NEHRA is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP or SHRM-SCP. For more information, visit the SHRM certification website at www.shrmcertification.org.
The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program. It means that this program has met the HR Certification Institute's criteria to be pre-approved for recertification credit.