Excessive Fees in Retirement Plans

October 30, 2012 at 7:35 pm 2 comments

The Chicago Tribune had an article entitled, “U.S. Top Court will Not Review John Hancock Retirement Plans ” , by Jonathan Stempel.  Located at http://www.chicagotribune.com/sns-rt-usa-courtmanulife-retirementl1e8lt9g2-20121029,0,6902038.story, the article indicates that John Hancock made an appeal to have overturned a decision regarding excessive fees in a retirement plan.  What I felt was noteworthy was their argument that being held responsible for excessive fees would somehow discourage employers to have retirement plans.  I would hope that it would have a different effect, and plan sponsors would understand the importance of carefully evaluating service providers and their fees.

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2 Comments Add your own

  • 1. John S  |  October 31, 2012 at 8:27 am

    Amen Sister! Failing to prosecute JH for excessive fees on the predication that it will only make things more expensive for potential plan sponsors bascially allows them to break the rules in plain sight. I don’t think this falls under the purview of, “Greatest Good For the Greatest Number” philosophy.

    Reply
    • 2. christinegurneyuspension  |  November 6, 2012 at 7:33 pm

      Thanks for your input! It is always great to hear from others in the industry who feel the same way!

      Reply

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

@ChristineGurney

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