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Insights

ERISA Fiduciary Standards: Pitfalls, Lessons and Best Practices

Posted by Sherrie Grabot, GuidedChoice CEO and Founder on Sep 12, 2018 10:33:06 AM

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“With great power comes great responsibility.” This solemn quote, originally uttered in a Spider Man comic, seems apropos to the duties employers must fulfill as retirement plan fiduciaries. As it implies, fiduciary responsibility should not be taken lightly.

So what, exactly, is fiduciary responsibility? In short, it’s the duty plan sponsors and fiduciaries have to protect the best interests of retirement plan participants, retirees, and their beneficiaries. 

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Topics: Fiduciary Duty, Fiduciary Responsibility, fiduciary best practices, fiduciary liability, fiduciary, For Business, Business Insights

Improving Outcomes: Asset Allocation Alone Isn’t the Answer

Posted by GuidedChoice on Mar 22, 2018 9:45:07 AM

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To date, traditional off-the-shelf Target Date Funds (TDFs) have become the most popular qualified default investment alternative (QDIA) offering in employer-sponsored retirement plans. However, that doesn’t mean they’re the best. TDFs are generally seen as an easy way to help participants put retirement investing on autopilot. And it’s this hands-off nature that appeals to plan sponsors who are responsible for QDIA selection, despite the fact that traditional TDFs have an overly simplistic strategy that falls short in several areas.

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Topics: TDF, Asset Allocation, 401k plan, Participant outcomes, Increase savings rates, Fiduciary Duty, Fiduciary Responsibility, investment advice for participants, financial wellness, Business Insights

QDIAs Help Plan Sponsors Meet Their Fiduciary Liability: A Free Guide

Posted by GuidedChoice on Oct 20, 2017 12:32:45 PM

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Qualified default investment alternatives can protect you from fiduciary liability if your participants’ investments suffer losses. To receive this protection, you must take specific steps in selecting the best QDIA for your plan.  This guide will walk you through the selection process and how to ensure you receive the safe harbor protection a properly-selected QDIA can provide.

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Topics: All, QDIA, Qualifed Investment Default Alternative, Fiduciary Responsibility, Fiduciary Duty

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