Products September 20, 2012

Main Management Partners With RPG Consultants

An alliance between RPG Consultants and Main Management LLC will enable plan sponsors to utilize RPG’s technology and Main Management’s portfolio management capabilities.
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Main Mangement provides a suite of managed exchange-traded fund (ETF) solutions to the qualified retirement plan marketplace. The Main Management-RPG solution allows adviser access to managed strategies and investment models in defined benefit (DB) plans and defined contribution (DC) plans. Main Management will offer section 3(38) investment fiduciary services using RPG’s open architecture and recordkeeping platform, as well as its plan consulting, actuarial and administration services for all types of plans.

The integration will allow customized retirement plans—aiming to reduce fiduciary risk—in addition to a variety of allocation models and portfolio options, designed to create cost savings and transparency to plan sponsor and participants. It will also provide advisers with a tool with which clients can allocate their investments. 

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Compliance September 20, 2012

EBSA Releases 401(k) Fee Disclosure Web Resource

The Employee Benefits Security Administration (EBSA) launched a website that offers information about fee disclosures to help workers with defined contribution (DC) retirement plans.
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The site helps workers see what they are paying in fees and also includes tips and tools for making retirement investment decisions.

“Workers deserve to know how much they are paying for their retirement investments,” Assistant Secretary of Labor for EBSA Phyllis C. Borzi said. “Fees can eat away at retirement savings. Access to good information can lead to an increase of tens—even hundreds-of-thousands of dollars—in retirement savings over the course of a career.”

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According to EBSA, research has shown that paying just 1% more in fees can lead to a 28% decrease in a 401(k) account balance over the course of a career.

An EBSA webinar recording about how to utilize the new fee disclosures is available at http://s.dol.gov/WM.

Workers in employer-sponsored health and retirement benefit plans who have questions about benefits laws can contact an EBSA benefits adviser at http://www.askebsa.dol.gov or 866-444-EBSA (3272). 

 

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