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Article: DC plan sponsors address mutual fund scandals: Prompt, forthright communication key to navigating touchy issue.(District Of Columbia)
- Article from:
- Employee Benefit News
- Article date:
- July 1, 2004
- Author:
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Every time you turn around, there's another mutual fund settlement grabbing headlines. Government officials are pushing for new regulations and class-action lawsuits. Plan providers are doing damage control. Employees are confused. And plan sponsors are stuck in the middle.
"Employers have a fiduciary obligation to communicate with their plan participants about mutual fund scandal," says Ann Mahrdt, a director at Spectrem Group, a Chicago-based consulting firm that focuses on the financial service industry.
Spectrem recently studied the attitudes of 401(k) participants to find out how they felt about trading, marketing and disclosure practices in the ...