Supreme Court Warnings to 401(k) Plan Sponsors

The financial press has been lit-up following a unanimous United States Supreme Court decision that requires plan sponsors, and pushes the financial services industry, to live up to the fiduciary standard.  The decision in Tibble v. Edison International may upend the 401(k) industry that is currently dominated by large insurance companies and financial service firms who do not function as fiduciaries in many retirement plans.  (The fiduciary standard requires plan sponsors and advisors to place their interest behind or below that of plan participants.)   The Huffington Post offers one report of the risks here.

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Shayne Momber, AIF®

Shayne graduated from Grand Valley State University (Allendale, MI) with a B.S. in Mathematics. He currently holds a series 65 securities license and received his Accredited Investment Fiduciary® (AIF®) certification in the spring of 2016. (Read full bio here.)

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