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Found in Translation
Annuity issuers are reaching out to non-English-speaking investors through websites written in Spanish and Asian languages, according to Corporate Insight.
Behavioral Economics and Retirement Investing
PIMCO and its Allianz affiliates recently sponsored a new study, “Behavioral Finance and the Post-Retirement Crisis.” PIMCO Retirement Product Manager Tom Streiff explains how the study’s findings can foster the development of successful retirement income products.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
August 4, 2010, Featured Articles, Regulations/Legal , 401(k)/IRA, Advisors/Planners/Reps
Independent Fiduciaries to the Rescue
With his National Retirement Security Plan, independent fiduciary Matthew Hutcheson hopes to bring lower fees, better management to small and micro retirement plans.
The National Retirement Security Plan is one of Matthew Hutcheson’s most recent ventures. It’s intended to be a scalable way for small plan sponsors to outsource the bulk of their investment and fiduciary responsibilities to outside professionals at a low cost.
The NSRP achieves its economies of scale in several ways. It’s a multi-employer plan, resembling one big plan with a bunch of different locations. The investments also go into a large fund whose investment decisions are made by professionals. Participants can choose age-based or higher-risk portfolios, but they don’t manage their own money.
The independent fiduciary, under Hutcheson’s supervision, is in charge, and very much pro-participant. Matching contributions, for instance, are 100% vested immediately. TD Ameritrade is the custodian (of a cash balance account, a 401(k) account and a 403(b) account), and Trautmann Maher & Associates, Mill Creek, Wash., is the recordkeeper. The investment portfolios are managed by ERISA Section 3 (38) investment manager fiduciaries.
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