The Four Pillars of Retirement Plans: The Fiduciary Guide to Participant Directed Retirement Plans - Hardcover

Loeper, David B.

Hardcover

ISBN 10: 0470449993 ISBN 13: 9780470449998

Verlag: John Wiley & Sons Ltd, 2009

Inhaltsangabe

Book by Loeper David B

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Reseña del editor:

A complete guide to the complex world of participant-directed retirement plans The landscape over the last thirty years in corporate (401(k), profit sharing, etc.), government (457 plans), and nonprofit retirement plans (403(b)) has shifted toward participant-directed funding and investment selection. This shift culminated in the Supreme Court's recent ruling allowing plan participants to sue fiduciaries. In the landmark case (LaRue v. DeWolff, Boberg & Associates, Inc.), the Court ruled on the ability for an individual participant to sue retirement plan fiduciaries. The Four Pillars of Retirement Plans addresses this important issue and prepares readers for the mountain of lawsuits that will arise from the ruling. It covers what attorneys need to know to win these suits, and what financial advisors, trustees, employers, and fiduciaries of 401(k) and other retirement plans need to do to avoid liability from these suits. The Four Pillars of Retirement Plans focuses on the key areas where past guidelines need to change in an environment where participant direction dominates, and new liability for each participant's individual plan balance has suddenly become a potential responsibility to fiduciaries. This timely book will be a valuable resource for financial advisors, attorneys, and other fiduciaries that now face potential lawsuits from their plan participants. David Loeper (Richmond, VA) is the CEO of Financeware, Inc. Prior to founding Financeware in 1999, Loeper was managing director of strategic planning for the retail brokerage division of Wheat First Union and served on the Investment Advisory Committee of the nearly $30 billion Virginia Retirement System. He is also the author of Stop the 401(k) Rip-off (978-1-934454-10-7).

Nota de la solapa:

In the February 2008 landmark Supreme Court ruling LaRue v. DeWolff, Boberg & Associates, Inc., the Court ruled on the ability of an individual participant to sue retirement plan fiduciaries. This ruling significantly changed the landscape of fiduciary liability and risks for trustees. With the Court's decision that any individual can sue for breaches based solely on the impairment of their personal plan balances, a potential floodgate of new lawsuits may have been opened. This has profound implications for exercising new forms of procedural prudence designed specifically for participant-directed funding and investment selection.

The Four Pillars of Retirement Plans provides a road map that all fiduciaries can use to adjust their actions to shelter themselves from the massive liabilities they may face-as well as serving as a guide for attorneys representing retirement plan participants.

Drawing on his nearly twenty-five years of ERISA experience as a fiduciary, author, and Registered Investment Advisor, David Loeper details his four pillars of retirement plans-the specific four pillars of ERISA concepts that need procedural adjustment by trustees and advisors. In Part I of the book, he examines each of the four pillars from a perspective of the changing landscape toward participant-directed retirement plans, the generally accepted procedures of the past that have become outdated, the actions all fiduciaries need to take to adjust to this landscape, and perhaps, more importantly, the rationale behind such changes. In Part II, he explains to plan sponsors, investment managers, plan consultants, and fiduciaries why the Supreme Court's ruling will change the environment for measuring their responsibilities and liabilities in years to come. In Part III, he offers some practical solutions to these new problems, identifying how some of the "safest" fiduciary actions are no longer so safe, what you can do about getting ahead of the curve to avoid needless liability, and where to locate free resources that fiduciaries can use to help mitigate their risks and help to document procedural prudence in the future landscape for participant-directed plans.

For financial advisors, attorneys, and other fiduciaries, The Four Pillars of Retirement Plans will be an invaluable resource for dealing with the monumental changes ahead.

Über diese Auflage

• Verlag: John Wiley & Sons Ltd
• Erscheinungsdatum: 2009
• ISBN 10: 0470449993
• ISBN 13: 9780470449998
• Einband: Tapa dura
• Anzahl der Seiten: 244