Understanding Collective Trust Funds and Trends in the Marketplace. Sharon Ennis, SVP April 12, 2017
|
|
- Sherman Gregory
- 5 years ago
- Views:
Transcription
1 Understanding Collective Trust Funds and Trends in the Marketplace Sharon Ennis, SVP April 12, 2017
2 U.S. Total Market Retirement Trillions of dollars, end-of-period, selected periods Total U.S. retirement assets were $24.0 trillion as of December 31, 2015, up 3.0 percent from the end of September and about unchanged for the year.. Retirement assets accounted for 34 percent of all household financial assets in the United States at the end of the fourth quarter of Source: ICI Quarterly Retirement Market Data 4Q 2015 for full details 2
3 Retirement Plan Products Mutual Funds ( 40-Act Funds ) Collective Funds ( CITs ) Separate Accounts Self Directed Brokerage Unitized Vehicles Annuities Insurance Product Private Funds 3
4 Investment Products Used in DC Plans Does your plan offer the following investment types within the fund lineup?* Collective trusts notably increased in prevalence, with 70.8% of plans offering them in 2015, up from 60.0% in Collective trusts are a common stable value option (43.4%) but more often are used for other (i.e., non-stable value) funds (49.6%). Source: 2016 Callan DC Trends Survey 4
5 Two Broad Types of Bank Funds Collective Investment Trust Funds Bank can have agency relationship with plan investors. Limited to certain types of qualified plans. Common Trust Funds Bank must have bona-fida fiduciary relationship to investors; includes non-qualified plan investors, e.g., endowments, foundations, personal trusts etc. 5
6 Evolution of Collective Funds Been around for more than 75 years Initially bank managed for it own clients, primarily defined benefit plans Significant move towards mutual funds in 1990s 2000 NSCC processing of CITs began 2006 Pension Protection Act Target Date Funds QDIA 2012 DOL 408(b)2 and 404(a)5 enhanced fee disclosure Everything new is old 6
7 Then and Now Early CITs Lack of pricing flexibility at the plan level Modern CITs Plan level pricing flexibility often available Limited product offerings Quarterly valuations Manual processing of investor contributions and withdrawals Limited performance calculations based on quarterly valuations Limited availability of fund data Used almost exclusively in DB plans Expanded universe of investment strategies Daily valuations Full automation available through the NSCC Generally available due to daily valuations Fund Fact Sheets & enhanced data reporting Used in both DB & DC plans 7
8 Who Can Invest in a CIT? Certain types of government retirement plans: 401(k) plans, pension, profit sharing, stock bonus, and other specific trusts that are exempt from federal income tax under Internal Revenue Code Section 501, including other CITs Plans that include self-employed persons (HR 10 plans) may invest if the CIT does not invest in private placement 144A securities CITs in certain asset classes may accept investments from church plans If invested prior to December 31, 2011, certain Puerto Rican retirement plans may remain invested in a CIT Notable ineligible investors: CITs may not hold assets of 403(b) plans, IRAs, or health savings accounts 8
9 Regulatory Oversight CITs are subject to many laws and regulations, including those administered by: State and federal bank regulatory agencies (particularly the OCC) DOL IRS SEC Financial Industry Regulatory Authority (FINRA), to the extent the CITs are marketed by a broker dealer; and Commodities Futures Trading Commission (CFTC), to the extent the CITs invest in commodity interests, such as futures or swaps. 9
10 CITs vs Mutual Funds - Not Identical Twins Feature Collective Trusts Mutual Funds Availability Limited to qualified plans General Public Pooled Vehicle Yes Yes Daily Trading & Valuation Yes but not all Yes Clearing NSCC NSCC Identifier CUSIP CUSIP and Ticker Governing Document Declaration of Trust Prospectus Third Party Platform Coverage Yes but not all Yes Enrolling Plan Sponsor must adopt CIT term Prospectus Regulatory OCC, IRS, DOL, SEC SEC Advertising No Yes Morningstar Data Yes Yes Fees Flexible Structured 10
11 CITs vs Mutual Funds - Not Identical Twins Collective Funds Qualified plans only Declaration of Trust OCC and State Regulated Trustees Held to ERISA Fiduciary Standards Data Provided by Manager Institutional Pricing Pricing Flexibility Pooled Vehicle Daily Valued NSCC Traded Fact Sheets Annual Audit Mutual Funds All Investors Prospectus SEC Registered No ERISA Fiduciary Standard Data Publicly Available Institutional and Retail Pricing No Pricing Flexibility 11
12 CIT AUM Is On the Rise No centralized repository of CIT data total number of funds, strategies, AUM is an industry unknown NSCC CIT transaction activity continues to show increases year of year, 6% increase in 2016 over 2015 and a stunning 31% increase in 2015 over Since 2006, Morningstar has increased the number of CITs it tracks by 55% Callan estimates that 70% of all plans used a CIT in 2014, up from 60% in the previous year Reuters put the CIT assets of two trust companies BlackRock and State Street - to be $2.2 trillion combined at the end of 2014 WSJ reported in 2015 an estimated $2.3 trillion in CIT assets 12
13 Fee Benefits of CITs Fee Differentials based on an assumed mandate of $100mm Mutual Funds Collective Trusts U.S. Large Cap 0.78% 0.50% U.S. Small Cap 1.01% 0.80% Non-U.S. Equity 0.75% 0.69% Core Fixed Income 0.46% 0.27% With lower overhead SEC registration, promotional materials as well as paying board members there is a fee benefit to using collective trusts. Source: Callan 13
14 Industry Trends Impacting CIT AUM Plan sponsors seeking ways to reduce total plan cost and enhance plan health; employers taking more interest and responsibility for employee retirement outcomes Increased interest for fiduciary support by plan sponsors (DOL Fiduciary Rules issued April 2016) plan governance and centralized investment oversight Asset class exposure (uptick in alternatives and fixed income strategy interest; foreigns; TDF sleeves) Investment managers seeking flexibility in offering their strategy(ies) in multiple legal structures - plan sponsor chooses vehicle, e.g., separate account, group trust, mutual fund, collective fund 14
15 Industry Trends Impacting CIT AUM Advisors in the retirement space: Consolidation and focus on differentiation through plan health and participant retirement outcomes, e.g., plan design features and custom target date/risk solutions Increasing use of liability driven investing (LDI) in DB plans with use of passive strategies likely to increase to help lower costs 15
16 Coalition of Collective Investment Trusts 40-member companies representing fund sponsors and money managers active in the collective investment trust industry Forum for discussing and developing best practices for legal and operational issues relating to CITs Regular updates with respect to legal and regulatory matters affecting CITS Where desired by the members, to express opinions (e.g., by filing comment letters) on matters of interest to CIT sponsors Sutherland Asbill & Brennan LLP serves as counsel to the CCIT and actively reports to Coalition members regarding relevant regulatory (including OCC, DOL, and SEC) developments of interest to the members. or for further information contact Clifford Kirsch at or Mark Smith at
17 Sharon Ennis
Collective investment trusts (CITs): Benefits & Capabilities Presented to: National Council on Teacher Retirement
Collective investment trusts (CITs): Benefits & Capabilities Presented to: National Council on Teacher Retirement March 29, 2017 Agenda Overview of collective investment trusts (CITs) Comparison of CITs
More informationThe Impact of the DOL Fiduciary Duty Rule on Bank Broker-Dealer Distribution of Securities and Insurance
Clifford E. Kirsch W. Mark Smith April 25, 2016 The Impact of the DOL Fiduciary Duty Rule on Bank Broker-Dealer Distribution of Securities and Insurance All Rights Reserved. This communication is for general
More informationAdvancements in target date fund delivery. Weighing the pros and cons of collective investment trusts and customization in target date design
Advancements in target date fund delivery Weighing the pros and cons of collective investment trusts and customization in target date design Executive summary Jake Gilliam Director, Head Client Portfolio
More informationUnderstanding collective investment trusts
Jed Petty, CFA Director of DC Strategies Understanding collective investment trusts Brendan MacKenzie, CFA Business Development Manager Matt McMenamy Business Development Manager About the authors As members
More informationWHAT IS REASONABLE? Prepared by The Wagner Law Group. Practical tips for evaluating fees and expenses of plan investments
Prepared by The Wagner Law Group WHAT IS REASONABLE? Practical tips for evaluating fees and expenses of plan investments All investments involve risk, including possible loss of principal. Important note:
More informationWHAT S OLD IS NEW AGAIN
FEBRUARY 2017 WHAT S OLD IS NEW AGAIN COLLECTIVE INVESTMENT TRUSTS REDUCE DC PLAN COSTS Jennifer DeLong Managing Director and Head Defined Contribution IN THIS PAPER: It s been a decade since we first
More informationFIDUCIARY CONSIDERATIONS FOR INVESTMENT VEHICLE SELECTION. Todd Stewart, CFA Director, Investment Research. December For Institutional Use Only.
FIDUCIARY CONSIDERATIONS FOR INVESTMENT VEHICLE SELECTION Todd Stewart, CFA Director, Investment Research December 2016 For Institutional Use Only. 1920 Main Street, Suite 800, Irvine, CA 92614 T 949.955.1395
More informationCollective Investment Trusts (CITs)
Collective Investment Trusts (CITs) Use of CITs is increasingly common among defined contribution (DC) plans and for good reason. Key Points CITs are specifically designed for use within defined contribution
More informationModerator: Clifford Kirsch, Partner, Sutherland Asbill & Brennan LLP November 3-4, BISA Regulatory & Compliance Summit
Moderator: Clifford Kirsch, Partner, Sutherland Asbill & Brennan LLP November 3-4, 2014 BISA Regulatory & Compliance Summit Supervisory Issues Facing Bank Broker Dealers Sales to Seniors Qualified Plan
More informationALI-ABA Conference on Life Insurance Company Products November 3-4, 2011 Washington, D.C.
775 ALI-ABA Conference on Life Insurance Company Products November 3-4, 2011 Washington, D.C. Redefining the Retail Relationship: The Emerging Regulatory Framework Governing Suitability, the Standard of
More informationCOLLECTIVE INVESTMENT TRUSTS A PERFECT STORM A DST White Paper: March 2017
COLLECTIVE INVESTMENT TRUSTS A PERFECT STORM A DST White Paper: March 2017 By Erach Desai and Jason Dauwen RETIREMENT Investments Table of Contents Collective Investment Trusts A Perfect Storm...3 Executive
More informationWHO ARE YOU CALLING A FIDUCIARY? DIFFERENTIATE YOURSELF HELP YOUR CLIENTS
October 4, 2017 WHO ARE YOU CALLING A FIDUCIARY? DIFFERENTIATE YOURSELF HELP YOUR CLIENTS Jennifer DeLong Head Defined Contribution, AB This material is provided for informational purposes only and is
More informationHow 403(b) Plans are Wasting Nearly $10 Billion Annually, and What Can Be Done to Fix It
How 403(b) Plans are Wasting Nearly $10 Billion Annually, and What Can Be Done to Fix It January 2016 Investment advice and consulting services provided by Aon Hewitt Investment Consulting, Inc., an Aon
More information401(k) Fee Disclosure Form
401(k) Fee Disclosure Form The 401(k) Fee Disclosure Form is designed as a tool for plan sponsors to identify the fees and potential conflicts of interest of service providers. The Form may be used to
More informationManaged Accounts in 401(k) Plans: Solution or Fad. Linda Ruiz-Zaiko Bridgebay Financial, Inc.
Managed Accounts in 401(k) Plans: Solution or Fad Linda Ruiz-Zaiko Bridgebay Financial, Inc. www.bridgebay.com US Retirement Assets 36% of US Household Financial Assets IRAs $7.2 Trillion FERS $0.4 Trillion
More information457(f) Executive Deferred Compensation
SAVING : INVESTING : PLANNING 457(f) Executive Deferred Compensation 457(f) Executive Deferred Compensation plan for private, tax-exempt employers Looking for a compensation plan that will help you attract
More informationPlan Sponsor Fee Disclosure
Plan Sponsor Fee Disclosure Standard Retirement Services, Inc. Overview Full, clear disclosure of all fees associated with qualified retirement plans has long been a goal of the Department of Labor (DOL).
More informationTarget-date fund trends and innovation. For institutional use only. Not for distribution to retail investors.
Target-date fund trends and innovation Agenda Target-date fund (TDF) landscape and trends What s next in TDF innovation? 2 TDF landscape and trends 3 Assets under management in $B A brief history of the
More informationTo assist recordkeepers in this task, Mid Atlantic has developed the Investment Toolkit. The Toolkit provides the following services:
Overview The new fee disclosure rules have created new responsibilities for plan sponsors and plan service providers. While overall, these new rules should help even the playing field for unbundled or
More information8/13/2014. Test Drive Defining and Understanding DC Investment Vehicles
Continuing Education Credits Be sure to sign the Sign-In/Sign-Out sheet outside of the room when applying for Continuing Education Credits for the following certifications. (Check the appropriate certification)
More informationHow 403(b) Plans are Wasting Nearly $10 Billion Annually, and What Can Be Done to Fix It
How 403(b) Plans are Wasting Nearly $10 Billion Annually, and What Can Be Done to Fix It January 2016 Investment advice and consulting services provided by Aon Hewitt Investment Consulting, Inc., an Aon
More informationUtilization of ETFs in 401(k) Plan Line-ups
SageView Advisory Group Utilization of ETFs in 401(k) Plan Line-ups Jack Evans, AIF, Managing Director and Chief Investment Council Matt Hammonds, AIF, Managing Director of Institutional Services April
More informationRoadmap to Understanding Retirement Plan Fees. The only guide you need
Roadmap to Understanding Retirement Plan Fees The only guide you need Executive Summary Retirement plan fees under the spotlight You know there are costs associated with offering a retirement plan, but
More informationOvercome the Increased Scrutiny of Your Organization s Retirement Plan
Overcome the Increased Scrutiny of Your Organization s Retirement Plan Finance, HR & Business Operations Conference Washington, DC April 30 - May 1, 2013 4/30/2013 Goals for Today s Presentation Understand
More informationIOWA THE HARTFORD PREMIER ASSET MANAGEMENT PROTECTION POLICY sm APPLICATION
Name of Insurance Company to which application is made IOWA THE HARTFORD PREMIER ASSET MANAGEMENT PROTECTION POLICY sm APPLICATION TICE: THIS IS A PROPOSAL FOR A CLAIMS-MADE AND REPORTED POLICY. THE POLICY
More informationA NEW FIDUCIARY RULE FOR THE INVESTMENT ADVICE PLAYBOOK
PlanAdvisorTools.com A NEW FIDUCIARY RULE FOR THE INVESTMENT ADVICE PLAYBOOK How the DOL s Fiduciary Rule Has Fundamentally Changed Investment Advice for IRAs By Fred Reish - Partner, Drinker Biddle &
More informationThe Department of Labor s New Fiduciary Regulation Considerations for Mutual Fund Directors
The Department of Labor s New Fiduciary Regulation Considerations for Mutual Fund Directors September 20, 2016 Copyright 2016 by K&L Gates LLP. All rights reserved. Susan Ferris Wyderko, CEO/President,
More informationRe-Evaluating the Use of CITs in DC Plans.
U.S. DEFINED CONTRIBUTION DISTRIBUTION 2017 Re-Evaluating the Use of CITs in DC Plans Overview & Methodology In its fourth iteration, this report examines the defined contribution (DC) market, with a focus
More informationERISA SECTION 408(b)(2) NOTICE
ERISA SECTION 408(b)(2) NOTICE PREPARED FOR Linn Engineering, Inc. 401(k) Profit Sharing Plan FOR PERIOD ENDING 2/28/2013 PLAN SPONSOR: Linn Engineering, Inc. 534 Market Street P.O. Box 2086 Zanesville,
More informationRETIREMENT PLAN BROKERAGE SERVICES ERISA 408(B)(2) DISCLOSURE INFORMATION APPLICABLE FOR ERISA RETIREMENT PLANS
This information is being provided to you as the sponsor or other responsible fiduciary of a retirement plan ( Plan ) subject to the Employee Retirement Income Security Act of 1974 ( ERISA ) that maintains
More informationForUs Advisors, LLC ITEM 1 COVER PAGE ADV PART 2 A
ForUs Advisors, LLC This brochure provides information about the qualifications and business practices of ForUs Advisors, LLC, dba ForUsAll (herein after ForUsAll). If you have any questions about the
More informationDeerfield Financial Advisors, Inc. Date of Brochure: March 2016
Form ADV Part 2A Firm Brochure Item 1 Cover Page 8440 Woodfield Crossing, #360 Indianapolis, IN 46240 www.deerfieldfa.com Date of Brochure: March 2016 This brochure provides information about the qualifications
More informationFiduciary Duty. Fiduciary Duty Defined: Fiduciary Duty. Fiduciary Duty. Fiduciary Duty & T. Rowe Price 10/18/2016
& T. Rowe Price 10/18/2016 Defined: Fiduciary---Person, company or association holding assets in TRUST for a beneficiary Duty---legal obligation of a fiduciary or other person in a responsible position
More informationCustom Target Date Strategies: Considerations for Plan Sponsors
Custom Target Date Strategies: Considerations for Plan Sponsors May 2014 T. ROWE PRICE Investment Viewpoint EXECUTIVE SUMMARY Defined contribution plan sponsors that use target date portfolios can choose
More informationForces of Change in an Evolving Retirement Market
Forces of Change in an Evolving Retirement Market How regulation, innovation and demographics converge to create new opportunities for investment managers and plan sponsors alike EXECUTIVE SUMMARY The
More informationMerrill Lynch Banking & Financial Services Conference
Merrill Lynch Banking & Financial Services Conference November 12, 2008 David Steyn Executive Vice President Global Head of Client Service and Marketing and the AB logo are trademarks and service marks
More information$1,000 per security (see Commissions and issue price below)
August 2015 Filed pursuant to Rule 433 dated August 4, 2015 Relating to Preliminary Pricing Supplement No. 468 dated August 4, 2015 to Registration Statement No. 333-200365 STRUCTURED INVESTMENTS Opportunities
More informationICI RESEARCH PERSPECTIVE
ICI RESEARCH PERSPECTIVE 1401 H STREET, NW, SUITE 1200 WASHINGTON, DC 20005 202-326-5800 WWW.ICI.ORG AUGUST 2015 VOL. 21, NO. 3 WHAT S INSIDE 2 Why Employers Offer 401(k) Plans 3 Paying for 401(k) Plan
More informationUnblurring the Lines: Understanding the Roles of Investment Providers
Unblurring the Lines: Understanding the Roles of Investment Providers Workshop 32 Monday, October 19, 2015 2:15 p.m. 3:30 p.m. Speaker: Virginia Sutton, QKA 1 Investment Provider Roles This session will
More informationETFs as Investment Options in DC Plans CONSIDERATIONS FOR PLAN SPONSORS
PRICE PERSPECTIVE August 2017 In-depth analysis and insights to inform your decision-making. ETFs as Investment Options in DC Plans CONSIDERATIONS FOR PLAN SPONSORS EXECUTIVE SUMMARY The exchange-traded
More informationOvercoming Challenges in the 403(b) Tax Exempt Market
INSIGHTS Overcoming Challenges in the 403(b) Tax Exempt Market July 2016 203.621.1700 2016, Rocaton Investment Advisors, LLC Rocaton Investment Advisors is pleased to present this Rocaton Insight focused
More informationENABLING BETTER RETIREMENT OUTCOMES THROUGH TARGET DATE INVESTMENT STRATEGY DESIGN
ENABLING BETTER RETIREMENT OUTCOMES THROUGH TARGET DATE INVESTMENT STRATEGY DESIGN Joe Martel, CFA T. Rowe Price Bailey DeVries T. Rowe Price PAPERS Spring Forum May 22 nd, 2018 OUR FOCUS FOR TODAY The
More informationConsiderations for Plan Sponsors: CUSTOM TARGET DATE STRATEGIES
PRICE PERSPECTIVE April 2015 Considerations for Plan Sponsors: CUSTOM TARGET DATE STRATEGIES In-depth analysis and insights to inform your decision making. EXECUTIVE SUMMARY Defined contribution plan sponsors
More informationERISA SECTION 408(b)(2) NOTICE
ERISA SECTION 408(b)(2) NOTICE PREPARED FOR National Multiple Sclerosis Society - Upstate New York Chapter 401(k) Savings Plan FOR PERIOD ENDING 2/28/2013 PLAN SPONSOR: National Multiple Sclerosis Society
More informationBaird Equity Asset Management Chautauqua Capital Management
Baird Equity Asset Management Chautauqua Capital Management Brochure March 30, 2017 Baird Equity Asset Management Chautauqua Capital Management 777 East Wisconsin Avenue 921 Walnut Street, Suite 250 Milwaukee,
More informationThe BrightScope/ICI Defined Contribution Plan Profile: A Close Look at 401(k) Plans, 2014
The BrightScope/ICI Defined Contribution Plan Profile: A Close Look at 401(k) Plans, 2014 DECEMBER 2016 The BrightScope/ICI Defined Contribution Plan Profile: A Close Look at 401(k) Plans, 2014 1 THE BRIGHTSCOPE/ICI
More informationAs plan sponsors realize a redesign is needed, target date funds get a second look.
2016 Defined Contribution Outlook: 2016 DEFINED CONTRIBUTION OUTLOOK As plan sponsors realize a redesign is needed, target date funds get a second look. JULY 2016 This summary is part two of a three-part
More informationCFTC Part 4 Exemption Easy Reference Guide. Click on the exemption type for more information on how to file and requirements for each exemption.
Click on the exemption type for more information on how to file and requirements for each exemption. Exemption Type General Relief Who Qualifies Exemptions from CPO Registration 4.13(a)(1) (Pool level
More informationThe analysis regarding securities law in this memorandum has been drafted by Clifford Kirsh of Sutherland Asbill & Brennan LLP.
TO: Robert Wuelfing, Executive Director, The SPARK Institute FROM: Michael Hadley, Partner DATE: April 2, 2015 RE: You have asked us to provide views on the implications under the Employee Retirement Income
More informationCASE STUDY: Plan Sponsor Insights on Custom Target-Date and Re-Enrollment
CASE STUDY: Plan Sponsor Insights on Custom Target-Date and Re-Enrollment Tim Dillane Director, Pension Investments Merck & Co., Inc. Dick Davies Senior Managing Director AllianceBernstein, L.P. Today
More informationQDIA PRACTICES CHECKLIST
QDIA PRACTICES CHECKLIST PLAN SPONSOR: PLAN NAME(S): RECORDKEEPER: ADVISOR: ADVISOR GUIDELINES FOR RECOMMENDING QDIAS OVERVIEW: A common question asked by plan sponsors is: How do I select a qualified
More informationTARGET DATE COMPASS SM EVALUATE AND SELECT TARGET DATE FUNDS WITH GREATER KNOWLEDGE AND CONFIDENCE SM
TARGET DATE COMPASS SM EVALUATE AND SELECT TARGET DATE FUNDS WITH GREATER KNOWLEDGE AND CONFIDENCE SM Helping plan sponsors navigate an increasingly complex path SELECTING A TARGET DATE FUND CAN BE ONE
More informationOriginally designed as supplemental savings programs,
Retirement DC Fiduciary Focus Fees Plan sponsors face ever-increasing scrutiny, pressure and risk associated with their defined contribution (DC) plans. Although participants retirement readiness is influenced
More informationDOL Conflict of Interest Proposal: What to Expect?
DOL Conflict of Interest Proposal: What to Expect? Brought to you by the Advanced Consulting Group of Nationwide Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks
More informationService Models: Tools for Improving Outcomes. Diana Jordan, AIFA Director, Client Experience Unified Trust Company, N.A.
Service Models: Tools for Improving Outcomes Diana Jordan, AIFA Director, Client Experience Unified Trust Company, N.A. 1 Welcome! Hello I am Diana Jordan! Diana Jordan is the Director of Client Experience
More informationEmployee Benefits and Qualified Plan Update
Employee Benefits and Qualified Plan Update Sonya D. Wright, CFP, CEBS, QKA First, a Quiz... There will be prizes! Getting to Know You! Percentage of your business in qualified retirement plans? Securities
More informationUBS Select for Corporate Retirement Plans Platform
UBS Select for Corporate Retirement Plans Platform Important information and disclosures for plan fiduciaries The UBS Select for Corporate Plans Platform is a brokerage arrangement offered by UBS Financial
More informationFramework for investment policy statement
Framework for investment policy statement Overview An investment policy statement (IPS) is a written document that provides plan fiduciaries with a framework for plan investment decisions. A well-defined
More information"Mamas, Don t Let Your Babies Grow Up to be Fiduciaries"
"Mamas, Don t Let Your Babies Grow Up to be Fiduciaries" DOL Expands definition of Fiduciary October 4, 2016 Speaker today Sharon Whittle Principal Compensation and Benefits Consulting Contact Details
More informationSOLVING THE CHALLENGES OF SMALL AND MID-SIZED RETIREMENT PLANS
SOLVING THE CHALLENGES OF SMALL AND MID-SIZED RETIREMENT PLANS SPONSORED BY A GROWTH OPPORTUNITY IN MANAGING FIDUCIARY RESPONSIBILITY 1 SOLVING THE CHALLENGES OF SMALL AND MID-SIZED RETIREMENT PLANS The
More informationEssential SSGA. Overview of US-Domiciled Commingled Funds and US-Managed Separately Managed Accounts
Essential SSGA Overview of US-Domiciled Commingled Funds and US-Managed Separately Managed Accounts NOVEMBER 2014 Table of Contents Introduction...5 Section I. SSGA US-Domiciled Commingled Funds...6 How
More informationThe Hartford is pleased to provide you with the enclosed Disclosure Statement Reasonable Contract or Arrangement under ERISA Section 408(b)(2).
The Hartford Retirement Plans Group P.O. Box 1583 Hartford, CT 06144-1583 EASTERN CO SERVICES FOR THE DEVELOPMENTA DEVELOPMENTALLY DISABLED 617 SOUTH 10TH AVE. STERLING CO 80751 Dear Plan Sponsor, The
More informationInvesting done differently FOR FINANCIAL PROFESSIONAL AND PLAN SPONSOR USE ONLY. NOT FOR USE WITH EMPLOYEES.
Investing done differently FOR FINANCIAL PROFESSIONAL AND PLAN SPONSOR USE ONLY. NOT FOR USE WITH EMPLOYEES. Investment expertise from a partner you know and trust When it comes to helping employees become
More informationFee Disclosure in Defined Contribution Retirement Plans: Background and Legislation
Fee Disclosure in Defined Contribution Retirement Plans: Background and Legislation John J. Topoleski Analyst in Income Security January 29, 2010 Congressional Research Service CRS Report for Congress
More informationUBS Select for Corporate Retirement Plans Platform
UBS Select for Corporate Retirement Plans Platform Important information and disclosures for plan fiduciaries The UBS Select for Corporate Plans Platform is a brokerage arrangement offered by UBS Financial
More informationUBS CLIENT RELATIONSHIP AGREEMENT
UBS CLIENT RELATIONSHIP AGREEMENT Terms and Conditions of your current and future Accounts This Client Relationship Agreement, as well as the Agreements and Disclosures booklet and the agreements for the
More informationWashington Update: Understanding the Nuances What's on the Table and What's Next?
Washington Update: Understanding the Nuances What's on the Table and What's Next? Aliya Wong Executive Director, Retirement Policy U.S. Chamber of Commerce Oh The Places Plans May Go... Congratulations!
More informationSafeguard Securities, Inc Parkland Boulevard, Suite 200 Cleveland, OH Phone: (216) Fax: (216)
Safeguard Securities, Inc. 6060 Parkland Boulevard, Suite 200 Cleveland, OH 44124 Phone: (216) 593-5090 Fax: (216) 593-5091 This brochure (Part 2a of Form ADV) provides information about the qualification
More informationThe Financial Services Regulatory Revolution: Navigating the New World of Broker-Dealer and Investment Adviser Regulation
81 ALI-ABA Course of Study The Financial Services Regulatory Revolution: Navigating the New World of Broker-Dealer and Investment Adviser Regulation October 8-9, 2009 New York, New York Suitability-Recent
More informationThe SEC s Proposed Regulation Best Interest, Form CRS Relationship Summary, and Interpretation Regarding Standards of Conduct for Investment Advisers
Brent J. Fields Secretary Securities and Exchange Commission 100 F Street NE Washington, DC 20549 Re: The SEC s Proposed Regulation Best Interest, Form CRS Relationship Summary, and Interpretation Regarding
More informationThe New Fee Disclosure Rules: What You Need to Do About 408(b)(2)
ederated The New Fee Disclosure Rules: What You Need to Do About 408(b)(2) What You Need to Do About 408(b)(2) Are You Ready? On April 1, 2012, the rules governing every 401(k) and every private pension
More information2018 RETIREMENT SECURITY BLUEPRINT
2018 RETIREMENT SECURITY BLUEPRINT 2018 Retirement Security Blueprint Americans face many challenges and obstacles in saving for retirement. In the past, many Americans relied on employer-based pension
More informationDOL Fiduciary Compliance Part II: The most comprehensive solutions for RIA firms
DOL Fiduciary Compliance Part II: The most comprehensive solutions for RIA firms January 23, 2017 by Bob Veres In part I of this two-part report on tools that help you meet the requirements of the DOL
More informationFiduciary Checklist. Fiduciary Source troweprice.com/centuryplan. Century Retirement Solutions
Fiduciary Checklist The following are areas of review that retirement plan fiduciaries may want to consider in fulfilling their fiduciary responsibilities. Plan sponsors and plan officials are encouraged
More informationRETIREMENT PLAN PANEL DISCUSSION
You have questions. We have answers. RETIREMENT PLAN PANEL DISCUSSION Moderator Anthony J. Kolenic, Jr. Presenter: John H. McKendry, Jr. Presenter: Justin W. Stemple 2015 Warner Norcross & Judd LLP. All
More informationTHE PILLARS OF A SOUND 457(b) DEFERRED COMPENSATION PLAN
THE PILLARS OF A SOUND 457(b) DEFERRED COMPENSATION PLAN April 7, 2016 GFOA of CT Spring 2016 Quarterly Meeting Important Information Please be advised that this presentation is not intended as legal or
More informationU.S. RETIREMENT MARKETS
U.S. RETIREMENT MARKETS 2017 The Rise of Fiduciary Services Overview & Methodology In its fifteenth iteration, this annual report represents Cerulli s broadest coverage of the U.S. retirement market and
More informationExpanded suite of T. Rowe Price trusts. T. Rowe Price Retirement Plan Services, Inc.
Expanded suite of T. Rowe Price trusts T. Rowe Price Retirement Plan Services, Inc. Institutional vehicles can help plans externalize servicing costs and lower overall investment costs Starting in January
More informationAn Overview of the Department of Labor s New Fiduciary Rule
An Overview of the Department of Labor s New Fiduciary Rule This publication is provided by AimcoR Group, LLC. in partnership with Saltzman Associates, LLC. CONTENTS Department of Labor 2016 Final Fiduciary
More informationWhy is this important?
Why is this important? Every day, more than 10,000 baby boomer reach age 65 and this will continue to happen every single day for the next 18 years. Retirees are living much longer than previous generations
More informationFred Reish. Los Angeles Century Park East, Ste Los Angeles, CA (310) phone (310) fax
Page 1 of 10 Partner Los Angeles 1800 Century Park East, Ste. 1400 Los Angeles, CA 90067 (310) 203-4047 phone (310) 229-1285 fax Fred.Reish@dbr.com C. Frederick Reish is a partner in the firm's Employee
More informationPart 2A of Form ADV: Safeguard Securities, Inc.
Part 2A of Form ADV: Safeguard Securities, Inc. Safeguard Securities, Inc. 2000 Auburn Drive, Suite 300 Cleveland, OH 44122 Phone: (216) 593-5090 Fax: (216) 593-5091 This brochure (Part 2a of Form ADV)
More informationRetirement
FINANCIAL PROFESSIONAL Retirement solutions@work New opportunity to help grow your business PROVIDER OF CHOICE ALL ADVISOR BUSINESS MODELS Some plans A focus on plans ALL $0 AUM $1 Billion AUM ALL ENTITIES
More informationCLIENT BROCHURE. Contents ITEM 1 COVER PAGE
Contents Item 1- Item 2- Item 3- Item 4- Item 5- Item 6- Item 7- Item 8- Item 9- Item 10- Item 11- Item 12- Item 13- Item 14- Item 15- Item 16- Item 17- Item 18- Cover Page Material Changes Table of Contents
More informationInaugural Memphis Compliance Roundtable
Inaugural Memphis Compliance Roundtable The DOL's Proposed Change to the Definition of Fiduciary Investment Advice Mark Griffin mgriffin@bakerdonelson.com Points: Investment Advice and Fiduciary Status
More informationRetirement Plan Evaluation
Retirement Plan Evaluation Presented By: Amy Eisinger, Regional Vice President Debbie Rogers, Vice President West Palm Beach Regional Office MUTUAL OF AMERICA 1450 Centrepark Blvd. Suite 200 West Palm
More informationThe Challenge of Annuity Disclosure Reform: Summaries, Profiles and Buyers Guide
SUTHERLAND The Challenge of Annuity Disclosure Reform: Summaries, Profiles and Buyers Guide ALI-ABA Conference on Life Insurance Company Products October 28-29, 2010 Mary Jane Wilson-Bilik Partner Sutherland
More informationQDIAs and Investment 101 for Plan Administrators. David Schultz, JD, APM FIS Relius
QDIAs and Investment 101 for Plan Administrators David Schultz, JD, APM FIS Relius 1 Agenda Investment 101 Investment types and asset classes Investment concepts Investment fees Qualified Default Investment
More informationIRAs in the Crosshairs: Washington s Growing, Multi- Agency Interest in Fees, Conflicts and Disclosure. Bradford Campbell Drinker Biddle & Reath
IRAs in the Crosshairs: Washington s Growing, Multi- Agency Interest in Fees, Conflicts and Disclosure Bradford Campbell Drinker Biddle & Reath Hon. Bradford P. Campbell Counsel (202) 230-5159 Bradford.Campbell@dbr.com
More informationWhat s in a Name: White-Label Funds in DC Plans
What s in a Name: White-Label Funds in DC Plans October 2014 Hewitt EnnisKnupp, An Aon Company 2014 Aon plc What s in a Name? That which we call a rose by any other name would smell as sweet. Much like
More informationCLIENT BROCHURE. Contents ITEM 1 COVER PAGE
Contents Item 1- Item 2- Item 3- Item 4- Item 5- Item 6- Item 7- Item 8- Item 9- Item 10- Item 11- Item 12- Item 13- Item 14- Item 15- Item 16- Item 17- Item 18- Cover Page Material Changes Table of Contents
More informationRETIREMENT PLAN PROGRAMS BROCHURE
LPL Financial LLC 75 State Street, 22nd Floor, Boston, MA 02109 www.lpl.com (617) 423-3644 December 7, 2018 This brochure provides information about the qualifications and business practices of LPL Financial.
More informationOverview of Defined Contribution Plan Design
Overview of Defined Contribution Plan Design September 6, 2016 Mutual of America Your Retirement Company Chris Conway Sr. Regional Vice President & Abbas Moloo Vice President MUTUAL OF AMERICA California
More informationScott Brindley Principal Consultant ACA Compliance Group. Cary J. Meer Partner K&L Gates LLP
Significant Washington Changes DC Compliance to CFTC Roundtable Regulations Seminar Impacting Private Fund Managers February April 15, 21, 2010 2012 Scott Brindley Principal Consultant ACA Compliance Group
More informationRETIREMENT PLAN PROGRAMS BROCHURE
LPL Financial LLC 75 State Street, 22nd Floor, Boston, MA 02109 www.lpl.com (617) 423-3644 December 16, 2017 This brochure provides information about the qualifications and business practices of LPL Financial.
More informationFee Disclosure. Get the 411 on 408(b)(2) Presented by: Ben Healy, AVP, Operations Eric Grzejka, Manager, Retirement Plan Consulting
Fee Disclosure Get the 411 on 408(b)(2) Presented by: Ben Healy, AVP, Operations Eric Grzejka, Manager, Retirement Plan Consulting Save the Date UPCOMING EVENTS May 28 2015 For Companies (New York, NY)
More informationSERVICE PROVIDER S FEE DISCLOSURE UNDER ERISA SECTION 408(b)(2) For Brokerage Windows/Accounts
Dear Responsible Plan Fiduciary, This information is provided to help you determine whether the contracts or arrangements you have with us are reasonable, including the compensation we receive. It is also
More informationEDGA & EDGX STOCK EXCHANGES
EDGA & EDGX STOCK EXCHANGES Regulatory Information Circular Circular Number: 2010-532 Contact: Jeff Rosenstrock Date: July 16, 2010 Telephone: (201) 942-8295 Subject: PowerShares DB G10 Currency Harvest
More informationSession will advise advisers on marketing their services as a 3(38) fiduciary including legal and insurance considerations.
Session will advise advisers on marketing their services as a 3(38) fiduciary including legal and insurance considerations. Gary Sutherland, CIC Jason C. Roberts, Esq., AIFA Katie Umile AIFA, www.naplia.com
More informationABC 401(k) Plan. Benchmark Fee Report. May 19, Report created by: James Jones Advisors Inc. (410)
May 19, 2017 Report created by: James Jones Advisors Inc. (410) 296-1000 Are Your Plan s Fees Reasonable? Introduction Fees and expenses associated with the management of a qualified retirement plan have
More information