Mark June 9, 2017 on your calendar. That's the day the lowly IRA entered the retirement plan big leagues. Previously, IRAs had significantly less regulatory oversight than ERISA plans. But with the redefinition of fiduciary in the DOL's conflict-of-interest (aka, fiduciary) rule, IRAs now fall under the ERISA regulatory umbrella.

For more than a generation, financial service providers were taught to view risk in a way that can be detrimental to the best interests of retirement savers.

Its time we recognize and accept that, when it comes to overseeing their employees retirement plans, plan sponsors simply dont have the comparative advantage.