Insights from the experts in investment fiduciary responsibility.

Fiduciary Links: GAO Report Brings Attention to IRA Rollovers

Posted by fi360 Team on April 08, 2013

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>>>>IRA rollovers were the big, fiduciary-related story of last week, as the GAO released a report suggesting many providers were recommending IRA rollovers for participants leaving a company without much consideration to the particular facts and circumstances related of that investor. In most cases, participants have very little information available to them that provides straightforward pros and cons of their available options. In addition, they found that the process of a plan-to-plan rollover from the old company to a new company’s 401(k) plan presents some obstacles.

Among the suggestions of the report is to make the plan-to-plan process simpler for participants, utilize more straightforward disclosure, and for DOL to move forward with its new definition of fiduciary, including addressing IRA rollovers. This will be a topic worth tracking as IRAs continue to get attention from government and consumer groups. As always, InvestmentNews has coverage, and supported the GAO recommendations in an editorial

>>>>, a blog focusing on risk management, celebrates its 7th anniversary this year. The author, Dr. Susan Mangiero, will be speaking at the upcoming fi360 Conference on due diligence for alternative investments. She is also author of the book Risk Management for Pensions, Endowments, and Foundations.

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