Keyword: psca

Small Plans Going it Alone

Smaller plans are frequently resource- and expertise-constrained when it comes to their workplace retirement plans, but a new survey indicates that they are less likely to do the things they should be doing — and less likely to get help from advisors to do them.   Read More

Can We Fix Participant Education?

There are lots of theories on why financial education within DC plans doesn’t work well. But that doesn’t stop the industry from spending billions of dollars on it, with tens of thousands of advisors conducting education meetings. Is it stubbornness? A fiduciary hedge? Or is it just part of the process of figuring it all out?
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On Capitol Hill, Borzi Responds to Black Caucus’ Concerns

In response to the Congressional Black Caucus’ concerns about the DOL’s proposed definition of fiduciary, EBSA Assistant Secretary Phyllis Borzi defended her proposal at a congressional briefing this week. Accompanying her at the briefing were representatives from AARP, AFL-CIO and the Plan Sponsor Council of America (PSCA), apparently to show support for DOL’s proposal.   Read More

It’s Always the Season of Giving: 5 Ideas for Inbound Marketing

In case you hadn’t noticed, the holiday season is over. Thankfully, you won’t be subjected to the continual playing of “The Santa Clause” on cable, Starbucks baristas wearing Santa hats or blow-up snowmen in your neighbors’ yards — at least for another 345 days or so. Don’t get me wrong. I love the holidays. They’re a wonderful time to get together with family and friends to celebrate the season. These festive holiday parties also serve as a great reminder of how social media should work.   Read More

Mutual Funds Trump CITs

The death of mutual funds in 401(k) plans is greatly exaggerated, especially in smaller and mid-sized plans, according to a survey conducted by Cerulli with help from the PSCA and data from the DOL. Though collective investment trusts (CITs) are cheaper and offer more flexibility, mutual funds dominate plans with less than $250 million — followed by closely bunched separately managed accounts, CITs and insurance products. In larger plans it’s a much closer race, although mutual funds products are still the most popular investment vehicle.   Read More

Fee Disclosure Rules Open Door for Knowledgeable Advisors

Based on a snapshot survey of retirement plans by the PSCA, only 1.4% of participants asked questions about their disclosures, and very few have changed deferral rates or participation — although 2.3% did shift their asset allocation. The bottom line: While its impact is minimal, fee disclosure does offer experienced and knowledgeable advisors the opportunity to start a meaningful dialogue with prospects who are not being properly advised.   Read More