Be More Than A Fiduciary podcast

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

לפני 5 ימים13:26

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.…

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Jason Levy: The ABCs of CITs 24:51

לפני 7 ימים24:51

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.…

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

לפני 12 ימים10:48

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.…

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Patrick Williams: Fiduciary in a Box 37:54

לפני 14 ימים37:54

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.…

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

לפני 19 ימים7:22

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.…

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Robin Green: Advisor Search Best Practices 45:45

לפני 21 ימים45:45

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.…

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

לפני 26 ימים6:57

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.…

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

לפני 28 ימים38:00

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.…

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Fiduciary vs Settlor Decisions 8:50

לפני 5 weeks8:50

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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Jania Stout: Cyber Security and the ERISA Advisor 29:08

לפני 5 weeks29:08

29:08

“Jania.” She’s one of those people in the ERISA world who only needs a first name mentioned and everyone knows who you are talking about. With over 25 years of experience in the retirement plan industry, Jania is a passionate and knowledgeable fiduciary leader dedicated to helping employers with fiduciary governance while also focusing on their employees' financial wellness goals. She has served as a Past President of the National Association of Plan Advisors (NAPA), providing leadership to the Plan Advisory industry to which she has devoted the past few decades. Jania is also a keynote speaker and writer who enjoys educating and engaging audiences on topics such as fiduciary governance, employee engagement, and behavioral finance. Her mission is to help working Americans feel less stressed and happier. In this episode, Eric and Jania Stout discuss: Developing a cybersecurity policy Strong passwords and two-factor authentication Monitoring cybersecurity practices Educating one’s self on cybersecurity Key Takeaways: Advisors should help plan sponsors develop a cybersecurity policy or process that includes regular review of record keeper cybersecurity practices and benchmarking against industry standards. Advisors should work with plan sponsors to ensure participants have set up strong passwords and enabled two-factor authentication to protect their accounts. Reviewing record keeper SOC 1 and SOC 2 reports is an important part of monitoring cybersecurity practices. Advisors should educate themselves on the DOL's cybersecurity guidance and ensure plan sponsors are aware of and implementing the recommended practices. “Read what the DOL suggests - understand what the DOL expects of a plan sponsor, because you're their advisor, so you need to know this as well as the plan sponsor, and then educate the plan sponsor, and then quantify the risk.” - Jania Stout Connect with Jania Stout: LinkedIn: https://www.linkedin.com/in/401kconsultant/ 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.…

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FF5 #46 - The Plan Document - A Fiduciary Duty 4:59

לפני 6 weeks4:59

4:59

In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of adhering to the plan document in both ERISA-regulated health and retirement plans. He emphasizes the four basic fiduciary duties: loyalty, prudence, asset diversification, and following the plan document. He advises plan advisors and committee members to ensure the plan document is clear, integrated into HR systems, and understood by all committee members. 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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Paul Horn: Cyber Security Best Practices 36:08

לפני 6 weeks36:08

36:08

Paul previously served as the Chief Information Security Officer for an independent Broker-Dealer with billions of dollars in assets under management and thousands of Advisors spread across the United States as well as a major defense contractor providing logistical services. Paul has been a part of several FINRA and SEC Cybersecurity sweeps and examinations and maintains a deep understanding of the regulatory requirements associated with financial institutions as well as prioritizing risk remediation activities. With a sister company operating in the tax preparation space and a large majority of Advisors having a separate tax practice Paul has a deep understanding of the IRS requirements set forth in the Strategic Threat Assessment & Response (STAR) work group to help protect taxpayers and the integrity of the tax ecosystem. Paul helps educate advisors on security requirements that are present in both businesses by drafting policies and procedures that are closely aligned to meet both business needs. Paul was also a 2016, 2015, 2014 & 2013 EC-Council Certified Chief Information Security Officer of the Year Finalist and was presented with the Excellence in Finance Leaders Award in recognition of his contributions to the Finance Industry at the 2019 FiNext Conference. Paul holds a Master of Science in Management with a concentration in Information Systems Security and a Bachelor of Science in Business Administration in Information Technology from Colorado Technical University. Paul has also served on a variety of Advisory Boards for information security-related topics and has a deep dedication to the information security community by mentoring other security professionals. Paul honorably served in the United States Air Force as a Special Agent and has an extensive physical and information security background from his time spent as an Agent. In this episode, Eric and Paul Horn discuss: The critical first step toward security The threat of human error Non-negotiable security measures Basic cybersecurity “hygiene” Key Takeaways: Performing a comprehensive cybersecurity risk assessment is the critical first step for organizations of all sizes to identify and address vulnerabilities. Human error, such as clicking on phishing links, remains the biggest cybersecurity threat, underscoring the importance of regular security awareness training. Multi-factor authentication is a non-negotiable security measure, not only for regulatory compliance but also for obtaining cyber insurance coverage. Small and mid-sized businesses often overlook basic cybersecurity hygiene like device encryption, patch management, and use of supported software versions, which can leave them exposed to significant risks. “If you can't do the basics, you're not going to be able to do the advanced stuff, or it's very easy to walk right in (a trap) because you're not doing the basic stuff.” - Paul Horn Connect with Paul Horn: Website: https://www.h2cyber.com/ LinkedIn: https://www.linkedin.com/in/paul-horn-4107861a/ 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.…

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FF5 #45 - ERISA Fiduciary Training Reference 10:27

לפני 7 weeks10:27

10:27

In this episode of Friday Fiduciary Five, Eric Dyson talks about ERISA fiduciary training resources for plan committee members and advisors. He outlines a comprehensive document covering four core duties: loyalty, prudence, diversification, and adherence to plan documents, and three additional duties: avoiding prohibited transactions, conflicts of interest, and reasonable cost management. Dyson lists 16 essential documents committee members should be familiar with, including the plan document, Form 5500, and compliance notifications. He also highlights five key DOL documents for training purposes, emphasizing the importance of understanding fiduciary responsibilities and regulatory changes. 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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Christopher Taylor: Record Keeper Search Best Practices 27:44

לפני 7 weeks27:44

27:44

Christopher (Chris) Taylor is the Director of Client Support for USI Consulting Group. He is located in Madison, WI. Chris leads USICG’s national provider search, fee benchmarking, and fee negotiation team in addition to providing investment analysis on equity strategies and supporting our sales team across the country. As a result, Chris has an in-depth understanding of the retirement services marketplace and significant experience across all plan types – including non-qualified solutions. In this episode, Eric and Chris discuss: Customizing scorecards to reflect objectives Creating a great experience through high-quality service Providing the best value by evaluating pricing models Managing differences in the midst of transition Key Takeaways: Scorecards can be helpful but shouldn't be too rigid - they should be customized to reflect the plan's objectives and allow for flexibility and intangible factors. When evaluating record keepers, focus on service quality and employee experience, not just cost. Higher fees can be justified by better service and support. Cost is in fact an important consideration, but start with service considerations. Look at both per-head and asset-based pricing models when getting bids, as there may be anomalies or differences that provide better value. When changing record keepers, be prepared to manage differences among committee members and document the deliberative process to focus on participants' best interests. Experienced consultants add value to the recordkeeper search process based on their wealth of experience with many different clients across numerous recordkeeping platforms. “Strive to get past cost and really look at service.” - Christopher Taylor Connect with Christopher Taylor: LinkedIn: https://www.linkedin.com/in/chris-taylor-7091541b9/ 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.…

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FF5 #44 - ERISA Fiduciary Training 8:23

לפני 8 weeks8:23

8:23

In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of ERISA fiduciary training for plan committee members, emphasizing that those with the most responsibility and liability often receive the least training. He highlights the need for clear, dedicated training sessions rather than brief mentions in quarterly 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.…

פודקאסטים ששווה להאזין

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Re-Recruiting and Other New HR Strategies You Can’t Ignore 18:09