Deals & People May 7, 2012

Tuttle Announces Plans to Step Down as FPA Executive Director

 

Marvin W. Tuttle Jr., executive director of the Financial Planning Association (FPA) since 2004, said he will step down from the position in 2014.

 

 

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Tuttle began his involvement in financial planning as director of communications for the Institute of Certified Financial Planners in Denver in 1983. The group merged with the International Association for Financial Planning to form FPA in 2000.

He served as FPA’s associate executive director from 1993 to 2004 and as publisher and editor of the organization’s publication, the Journal of Financial Planning from 1983 to 2004. He received the Certified Association Executive (CAE) designation from the American Society of Association Executives in 1996. In 2001, he helped to establish FPA’s National Financial Planning Support Center, which is dedicated to developing and providing pro bono services for the public in need.

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The FPA board will begin a search late this year or early next year and hopes to have candidates by the end of 2013, Tuttle said.

 

Compliance May 7, 2012

DOL Issues Additional Guidance for Participant Fee Disclosures

The Department of Labor’s Employee Benefits Security Administration (EBSA) issued frequently asked questions about the requirements of new participant fee disclosure rules.  
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Field Assistance Bulletin 2012-02 answers questions on what types of plans are covered under the regulation, including tax-sheltered annuity programs under Section 403(b). It also addresses methods of disclosing plan-related information and how to deal with revenue sharing.   

“This guidance will help both plan administrators and covered service providers comply with their obligations under the department’s new fee-transparency rules, so that workers who make their own investment decisions in retirement plans will have the information they need to make informed investment choices,” said Assistant Secretary of Labor for EBSA Phyllis C. Borzi. “We also are working on a second set of frequently asked questions and answers focused more narrowly on the new rules for disclosure by covered service providers.”

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To view Field Assistance Bulletin No. 2012-02, visit http://www.dol.gov/ebsa/regs/fab2012-2.html.    

 

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