Finalization of the Department of Labor’s(DOL) proposedfiduciary rule will place new responsibilities onsponsors of 401(k) plans to determine the extent of service theywant from retirement plan providers, says Douglas Fisher, seniorvice president of policy development at Fidelity.

Fisher, who spoke with BenefitsPro in between meetings onCapitol Hill last week, said no one can predict with certainty howthe rule will affect the recordkeeping market, or howparticipants and sponsors will pay tohave their plans administered going forward.

Fees for recordkeeping andmoney management have been going down — that’s happening regardlessof the DOL rule,” says Fisher.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.