Implementing the New DOL Reg
Peer Company Practices: Interactive Conference Call and Survey Series
Recordkeeping Service Providers
Investment ManagersBenefit
Sign up by April 29, 2016 and save $1,000!
Benefit
Participating firms (Recordkeepers and Investment Management firms) learn how peer companies are flexing their business in response to Department of Labor regulatory changes concerning what constitutes the rendering of investment advice and contingent fiduciary status.
Approach
Two one-hour conference calls consisting of structured discussion among peer firms will take place imme-diately upon the issue of the new DOL regulation , followed by five company practices surveys, roughly three weeks apart beginning May 17th, 2016.
On the first call, each firm will have three minutes to present its take on the regulation and to raise two questions to find out how peers address outstanding issues.
For any one survey, each company submits up to five open-end questions. We consolidate questions to avoid duplication. Each survey consists of up to 30 questions for each section (Recordkeeping, Investment Management). Companies respond within one week and receive a report of company practices within two weeks.
Deliverables
For each iteration of survey, you receive a report of practices including:
- Executive summary (our read / interpretation from analyzing open-end responses, and
- Compilation of open-end responses coded and anonymized (i.e., free of company jargon).
Schedule
- Initial Peer Exchange Conf. Call................... May 9, 2016
- Second Peer Exchange Conf. Call ............. May 10
- Field Survey 1 .............................................. May 17
- Respond by .................................. May 24
- Report 1 by ..................................... June 3
- Field Survey 2 .............................................. June 14
- Field Survey 3 .............................................. July 12
- Field Survey 4 .............................................. August 9
- Field Survey 5 .............................................. September 6
- Final Report (5).............................................September 30
Background
The U.S. Department of Labor has now finalized the fiduciary definition aka “conflict of interest” rule. This rule will have a dramatic impact on the retirement plans vertical and the implementation window is short. You need to know how your peers are planning to adjust their service models and business processes in real time through the implementation window. This process is modeled after an initiative rolled out to support the implementation of 404(a)(5) fee disclosures in 2011.
Participating Firms
We anticipate 30 participating firms—20 participating in the recordkeeping service section and 15 participating in the investment manager section of this initiative, including 5 who participate in both.
Discounted Price
Sign up by April 29, 2016
Recordkeeping Section Only
Firms with less than $250 billion in plan assets* ............................................. $1,700
Firms with $250 billion or more in plan assets * ..............................................$2,900
Investment Manager Section Only
Firms with less than $50 billion in DCIO assets.................................................$1,700
Firms with $50 billion or more in DCIO assets ................................................. $2,900
Both Sections
50% discount on the price of the second survey.
Full-Price
Sign up after April 29, 2016
Per section, irrespective of company size ......................................................... $3,900
Invoice upon acceptance of the proposal
*Plan assets per PLANSPONSOR 2015 Recordkeeping Survey
