Episoder
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In this episode of Friday Fiduciary Five, Eric Dyson talks about lessons learned from the Supreme Court case Cunningham v Cornell, focusing on the distinction between prohibited transactions and exempt prohibited transactions under ERISA. He emphasizes the importance of proper disclosures, such as ERISA 408(b)(2) disclosures, to ensure arrangements are reasonable and not prohibited. Eric highlights the need for committee members and advisors to understand their legal fiduciary duties and to manage plan expenses WHEN POSSIBLE by writing checks for services rather than using plan assets. He also notes concerns about the potential for increased litigation and fiduciary liability insurance costs due to an implied lower pleading standard from this case.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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Terry Crocker, CEO of Tropical Texas Behavioral Health, holds masterâs degrees in psychology and business. Since 2003, Terry has led the agencyâs growth into one of Texasâs largest community centers, now serving 34,000 people annually with a $123M budget and 1,400 staff. Honors include Behavioral Healthcare Champion (2013), the National Councilâs Visionary Leadership Award (2018), and appointment as an inaugural Commissioner on the Texas Judicial Commission on Mental Health.
Scott Hayes is President and CEO of ISC Group, Inc., based in Dallas. With 30 years of industry experience, he joined ISC in 1997. Scott is a past president of the American Retirement Association and NTSAA, and served on the ASPPA Board. Heâs a founding member and contributor to 403(b) Advisor magazine and currently serves on the board of the Texas Public Plan Coalition.
Mannix Smith brings 28 years of experience in defined contribution, ESOP, and executive benefit plans, including 27 years with ISC Group. For the past decade, Mannix has led retirement plan strategy, compliance, and relationship management at ISC, overseeing key programs and client partnerships.
In this episode, Eric, Terry, Scott, and Mannix discuss:
Engaging employees about company benefits and earning their trustMaximizing retirement optionsEngage through presence and educationLeverage plan design for growthUphold fiduciary and financial excellenceKey Takeaways:
For eligible government entities, contribute fully to both 457(b) and 403(b) plans. Take advantage of unique plan features that are part of a 457(b). Understand the strategic layering of 401(a), 457(b), and 403(b) plans for greater retirement flexibility.Promote benefits actively. Offer regular communication and face-to-face consultations. Build trust and increase participation through consistent, visible leadership.Encourage enrollment through generous matching programs. Consider the best use of forfeitures to support benefit enhancements. Structure plans to drive long-term participation and asset growth.Conduct quarterly investment reviews. Monitor advisor performance carefully. Maintain adequate reserves and use professional strategies focused on liquidity, safety, and return.âTake the time out to listen to the client's needs, to understand exactly what they are asking of youâ - Mannix Smith
Connect with Mannix Smith: https://www.linkedin.com/in/mannix-o-smith-5802b728/
Connect with Scott Hayes: https://www.linkedin.com/in/scotthayescfa/
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson talks about the potential risks of including cryptocurrencies in ERISA retirement plans. He emphasizes that sophisticated, highly volatile investments like cryptocurrencies may not be suitable for group retirement plans. Eric references a Senate bill introduced by Senator Tommy Tuberville that seeks to reverse the Department of Labor's guidance against cryptocurrency investments in retirement plans. He argues that the DOL's guidance highlights significant risks, and without compelling evidence showing improved participant outcomes, he advises against including cryptocurrencies in ERISA plans. Eric also references articles from Plan Advisor magazine that highlight differing opinions among advisors regarding the appropriateness of cryptocurrencies in financial plans.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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After earning a Sociology degree from Texas Tech University, Justin pursued graduate studies in Marriage and Family Counseling at Southwestern Seminary in Fort Worth. While in school, he worked part-time in the accounting department of a multi-state organization, eventually transitioning into a role in Human Resourcesâa better fit for his background and passion for helping people thrive at work.
With broad experience across industries like retail, healthcare, distribution, oil & gas, and engineering, Justin focuses on improving the candidate and employee experience throughout the employment lifecycle. His expertise spans employee relations, talent acquisition, training, compensation, benefits, and engagement. He holds both Senior Professional and Global Professional certifications in Human Resources.
Outside of work, Justin actively volunteers at his church and in the community, including with Junior Achievement and F3. He previously served as President of Fort Worth HR and was named a Top 40 Under 40 honoree by the Fort Worth Business Press, reflecting his commitment to impactful service and HR excellence.
In this episode, Eric and Justin Dorsey discuss:
The evolution of HR from a compliance function to a strategic driverWhy execution excellence is foundational to HR credibilityHow fractional HR can support growing businessesThe critical role of company culture in employee retentionAdvice for young HR professionals navigating their careersKey Takeaways:
Strategic HR starts with operational excellence. You canât earn a strategic seat at the table without first delivering on the basicsâpayroll, benefits, compliance, and employee support must run smoothly. Thatâs how credibility is built.Fractional HR is a flexible, cost-effective solution for small to mid-sized businesses. Whether itâs interim leadership, project-based work, or an ongoing partnership, a fractional HR model provides expert guidance without the cost of a full-time hire.Culture must be intentional, not assumed. Leaders should be willing to assess and challenge their assumptions about what makes their workplace great. Employee feedbackâlike Best Place to Work surveysâcan expose blind spots and create a path for real improvement.Execution trumps planning without follow-through. Even the best strategy wonât matter without proper implementation. Break big initiatives into manageable, sequenced steps and ensure ownership is clear at every level.Build your career through curiosity and relationships. Young HR professionals should stay curious, take calculated risks, invest in their network, and never forgetâitâs not just about what you know, itâs about the people you help and grow with along the way."Don't be afraid to take risks, be contagiously, consistently curious, and then also build your network." - Justin Dorsey
Connect with Justin Dorsey:
LinkedIn: https://www.linkedin.com/in/justin-dorsey-sphr
Email: [email protected]
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson talks about the ARA Leadership Triangle: Authority, Responsibility, and Accountability. He emphasizes that while authority can be delegated, responsibility cannot. Eric uses examples from leadership roles to illustrate the consequences of lacking these elements: apathy without accountability, frustration without authority, and boredom without responsibility. He stresses that ERISA plan fiduciaries cannot completely offload their responsibilities to service providers, even if there are shared fiduciary roles. Eric highlights the importance of monitoring delegated tasks and maintaining fiduciary duties, even when responsibilities are shared.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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With over 25 years of experience in financial services, Kelly has a passion for helping employers optimize their retirement plans and empower their employees to achieve financial security and retire with confidence. Combining financial expertise with wellness coaching, Kelly enjoys crafting comprehensive strategies that support employees throughout their health and wealth journey. She holds key certifications in fiduciary retirement plan management (AIF, QPFC, CRPS) as well as functional health and wellness coaching (NBC-HWC, A-CFHC), enabling her to implement a whole-person strategy in retirement plan management.
She has also been recognized twice by The Financial Times, in September 2015 & 2016, as one of the âTop 401 Financial Advisersâ in the 401(k) field and by NAPA, the National Association of Plan Advisors, as a 2017 and 2019 Top Woman Advisor All-Star in the retirement plan industry.
In this episode, Eric and Kelly Majdan discuss:
Signs of success in financial wellness programsUnderstanding employeesâ needs The true measure of financial wellness program success Focus on the people, not the numbersKey Takeaways:
Financial wellness programs should expect 5-15% engagement initially, which is actually a sign of success, not failure. The goal is to help employees move through different stages of behavioral change at their own pace.Understanding employees' needs is critical - start with a comprehensive survey to identify what financial topics are most important to your workforce, and design programs that meet them where they are in their financial journey.Measuring success goes beyond traditional metrics. Look at engagement indicators like webinar attendance, article clicks, survey participation, and gradually expanding program participation over 2-3 years.The most important approach is remembering that wellness programs are about people, not just numbers. Connect with employees personally, provide hope through success stories, and create supportive, ongoing resources that recognize individuals are at different stages of financial readiness.âRemember, you're dealing with people. Remember that they're not participants, they're not employees, they're not co-workers, they're not associates, they're people. Connect with them where they are and see them as the people that they are in front of you.â - Kelly Majdan
Connect with Kelly Majdan:
Website: https://www.onedigital.com/
LinkedIn: https://www.linkedin.com/in/kellymajdan/
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson talks about two key principles in financial planning on his podcast. First, he asserts that individuals with debt problems often lack a written budget. Second, he notes that no one has ever regretted saving too much for retirement. Eric emphasizes the importance of starting early with retirement savings, using the example of a middle-income household saving 3% without auto-escalation, which can yield significant results over time. He also highlights the benefits of financial literacy and budgeting and the potential impact of even small savings contributions.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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Mike Dullaghan is the Director of Retirement Sales Execution for Franklin Templeton. He is responsible for providing thought leadership, promoting new content, and delivering the tools and resources that help enable the Retirement team to effectively market Franklin Templeton products. Mr. Dullaghan is a regular contributor to Kiplingerâs âBuilding Wealthâ newsletter. Previously, at Putnam Investments, he was the Director of Content and Sales Enablement for Putnamâs DCIO Team. Mr. Dullaghan received his Retirement Income Certificate, or RI(k), from the National Association of Plan Advisors (NAPA).
In this episode, Eric and Mike Dullaghan discuss:
Automatic enrollment and automatic escalationThe evolution of retirement income solutions Regularly updating the plan design The blurring of lines between retirement and wealth advisoryKey Takeaways:
For ERISA plans established since January 1, 2023, automatic enrollment and auto-escalation are now required, reflecting a shift toward helping more workers save effectively for retirement.There's a growing focus on creating in-plan guaranteed income options, with innovations aimed at providing personalized income solutions using technology like AI to help retirees manage their savings.Just like smartphone operating systems, retirement plans need periodic review to ensure they're optimized for changing workforce demographics and participant needs.With state mandates and demographic shifts, advisors are increasingly working across retirement plans and wealth management, creating new opportunities for comprehensive financial guidance.âIf we can boil it down to what's the why of retirement income, what's the how of retirement income, and what's the what, then I think we're going to be in a way, better place than we are today.â - Mike Dullaghan
Connect with Mike Dullaghan:
Website: https://www.franklintempleton.com/
LinkedIn: https://www.linkedin.com/in/mikedullaghan1/
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson talks about the 80/20 rule, also known as the Pareto Principle, in the context of ERISA plans. He explains that 70-80% of assets and contributions are in target date funds, yet much time is spent evaluating the core lineup. Eric emphasizes the need to focus on the 20% of issues that drive 80% of outcomes, particularly in target date funds and managed accounts. He suggests that committees should prioritize evaluating these key areas to improve participant outcomes, and a reminder that the primary driver of retirement success is the amount contributed to the plan.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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Kevin has dedicated his career to helping people prepare for retirement. He assists corporate plan sponsors and their committees in meeting fiduciary responsibilities while guiding employees toward their financial goals.
With over 25 years in financial services, he is a Certified Investment Management Analyst and Accredited Investment Fiduciary Analyst. His expertise spans corporate retirement plan design, implementation, and distribution.
Before joining Raymond James in 2015, Kevin spent 24 years at Merrill Lynch. He holds a bachelorâs degree from Fordham University and is an active member of several professional organizations, including the Investment Management Consultants Association and the Society for Human Resource Management. He also serves on the leadership councils for the National Association of Plan Advisors and The Retirement Advisor Council.
Kevin is deeply committed to community service, currently serving on the Board of Directors for Rockland Hospital Guild and the Finance Committee for United Hospice of Rockland. He previously held leadership roles with Meals on Wheels of Rockland, St. Margaret of Antioch Church, and the Boy Scouts of America.
His contributions have earned him notable recognition, including Meals on Wheels Business Man of the Year (2015) and the Fordham University Community Leadership Award (2016). He has also been named to the Financial Times 401: Top U.S. Retirement Advisors annually since its inception.
In this episode, Eric and Kevin Mahoney discuss:
The benefits of thoroughly documenting service hoursEnsuring consistency in delivering value Exercising caution when benchmarking servicesEngaging in holistic retirement planningKey Takeaways:
Thoroughly documenting the time and effort spent servicing each client is an important process for advisors who want to truly justify their fees, enhance client retention, and identify both high and low-value engagements.Establishing a fiduciary training program, detailed service plans, and accountability measures is essential to ensure advisors consistently deliver value commensurate with their fees.Benchmarking services and fees against industry standards is vital, but advisors must exercise caution in data input to avoid erroneous conclusions regarding fee competitiveness.Advisors should engage in holistic retirement planning, including employee education, to succeed in the industry, while committees must scrutinize advisors' processes and pricing to meet fiduciary obligations.âIf all you're speaking to is investments. You're going to struggle. You need to talk to the plan holistically. You need to talk to employee education. And you have to be committed to the best interest of the participants. And if you do that, I think there's staggering upside potential.â - Kevin Mahoney
Connect with Kevin Mahoney:
Website: https://www.raymondjames.com/mahoneygroupadvisors/
LinkedIn: https://www.linkedin.com/in/kevinmahoneytmg/
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson breaks down the key differences between ERISA 3(21) investment advisors and ERISA 3(38) investment managers. He explains how these roles impact plan sponsors, committee responsibilities, and investment decision-making.
Eric highlights the main advantage of hiring a 3(38) investment manager. He also discusses the cost structure, the importance of monitoring fiduciary duties, and the potential risks of over-delegation. For plan sponsors deciding between these two fiduciary roles, he provides practical guidance on evaluating advisors, understanding the investment policy statement, and ensuring clear communication with service providers.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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Marcia Wagner is the founder of The Wagner Law Group, one of the nationâs largest and most highly regarded law firms specializing in ERISA, employee benefits, and executive compensation, and has practiced employee benefits law for over 38 years. Ms. Wagner is an authority on qualified and non-qualified plans, fiduciary issues, deferred compensation, and welfare benefit arrangements, with experience in plan design and drafting, compliance, tax planning, and consultation on all aspects of ERISA and the Internal Revenue Code. Ms. Wagner also serves as an expert witness in ERISA litigation. Ms. Wagner has recently been appointed to the Board of Directors for the American Benefits Council, as well as a Member to the Board of Governors of the American College of Employee Benefits Counsel. Ms. Wagner has written hundreds of articles and 27 books. She is a highly sought after lecturer, is widely quoted in financial journals and has been a guest on Fox, CNN, Bloomberg, and NBC.
In this episode, Eric and Marcia Wagner discuss:
Committing to continually enhancing servicesBest practices that benefit professionals must followAdopting investment policy statements and other governance documentsDoing things with integrity and excellenceKey Takeaways:
Providers must continually enhance services to meet evolving industry standards, legal requirements, and client expectations. Benefit professionals should follow best practices, such as documenting processes, monitoring fees, evaluating service providers through RFPs and benchmarking, and thoroughly documenting meeting minutes to demonstrate prudent fiduciary processes.Investment policy statements, although not legally mandated, are considered fiduciary best practices for retirement plans and should be treated as plan documents if adopted.Believe in the industry's support for the middle class and social stability, maintaining humanity, generosity, flexibility, enthusiasm, pursuing excellence and integrity, and embracing the notion that everything will work out in the end.âRemember your humanity, and don't let the bastards get you down because you will encounter people who are good. Have a generous heart and just be as flexible as you can be. Be open to things that are new. Be enthusiastic. Try to do what you do with excellence and integrity.â - Marcia Wagner
Connect with Marcia Wagner:
Website: https://www.wagnerlawgroup.com/attorney/wagner-marcia-s/
LinkedIn: https://www.linkedin.com/in/marciawagner
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson talks about the importance of investment policy statements (IPS) for target date funds (TDFs). He emphasizes the need for well-crafted IPS sections specifically for TDFs, cautioning against over-reliance on custom benchmarks that often fail to provide meaningful comparisons. Eric likens TDF evaluation to a fruit salad, underscoring the complexity of assessing multiple funds with varying glide paths and strategies. He advocates for conducting a glide path determination to align the TDF's risk level with plan demographics and participant needs, whether conservative or aggressive.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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In 1989, entrepreneur and sales professional David White began using payroll deductions through his successful companies, The Corporate Shoe and Corporate Warehouse Club. He operated seven employee stores at major companies like Texas Instruments, Lockheed Martin, and Frito-Lay and sponsored sales at Fortune 500 companies nationwide. In 2002, he applied this model to onsite sale events at over 40 major hospitals in the southern U.S., making them top fundraising activities. His extensive experience in retail and payroll purchasing has given him deep insight into buying preferences and trends.
With letters of recommendation from nearly every key account he has ever managed, Davidâs work ethic and genuine interest in satisfying the customer have translated into long-term relationships.
Raechel Peters is the President of BenefitsMe, a company focused on enhancing financial wellness in employee benefits through its Employee Purchasing Assistance Program. A strategic leader, Raechel has been instrumental in shaping the companyâs strategy, driving growth, and delivering exceptional experiences for both clients and users. With a strong background in leadership, marketing, operations, and strategic planning, she is dedicated to advancing innovation in the employee purchasing space and expanding access to financial wellness solutions.
In this episode, Eric, David White, and Raechel Peters discuss:
Financial Stress is WidespreadBenefitsMe Offers a No-Interest Solution for Necessary Household Purchase ItemsEasy Implementation and Low RiskVersatile Benefit Across Income LevelsFinancial Wellness and Financial Literacy Program IncludedKey Takeaways:
67% of Americans are worried about the cost of living, 77% live paycheck to paycheck, and 97% of employees spend time worrying about personal finances at work.The program allows employees to purchase essential items (like appliances, electronics, and travel) through payroll deduction with 3-12 month terms and zero interest, helping them avoid high-interest debt.The program requires minimal effort to set up (4-6 hours), comes with a free financial wellness module, and the company assumes the risk if an employee terminates before paying off their purchase.The program is beneficial for employees across all income brackets, not just low-wage workers, as personal financial challenges can affect anyone regardless of salary.âOne thing that really ensures that it's going to be a successful launch and a successful partnership is communication with the program sponsor and our team.â - Raechel Peters
Connect with David White & Raechel Peters:
Website: https://benefitsme.com/
Email: [email protected], [email protected]
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric talks about the importance of the Investment Policy Statement (IPS) as a plan document under ERISA. He references Interpretive Bulletin 2016-1, which clarifies that the IPS is a written guideline for fiduciaries, essential for maintaining plan investments. Eric emphasizes that drafting an IPS is a fiduciary act and must be adhered to unless it would be imprudent to do so. He cites a quick example of when that may not be prudent or appropriate in the case of a well-funded pension plan preparing to terminate which may want to have all assets in cash or other instruments for preservation of capital.. He advises against NOt having as IPS, as it provides a roadmap for fiduciaries, ensuring compliance with ERISA and maintaining prudence and loyalty in investment decisions.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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Chelle O'Keefe, SPHR is a seasoned HR executive with over 20 years of experience, specializing in fostering growth and vibrant workplace cultures. As Chief People Officer at Platinum Dermatology Partners, she drives initiatives that build cohesive cultures, optimize processes, and elevate company results. Previously, as EVP and CHRO at Associa, Chelle championed innovative HR methodologies and diversity initiatives, significantly reducing employee turnover and increasing leadership diversity. She holds a BS in Psychology from Texas A&M University and an MS in Industrial/Organizational Psychology from Capella University. Passionate about creating workplaces where people thrive, Chelleâs expertise spans HR, change management, training, and marketing strategy.
Janine Moore, AIFÂź, CPFA, CFS has over 25 years of financial services experience. She co-founded Peak Financial Group in 2002 and served as Principal until the HUB International acquisition in 2019. Janine specializes in 457(b) and 401(a) governmental deferred compensation plans and served as the City Director for the City of Houstonâs deferred compensation plan for six years. Recognized as a Top Women Advisor All Star and Captain, she has led professional and non-profit organizations committed to improving lives and promoting women in business. Janine holds a BA in Journalism and Public Relations from The Ohio State University and multiple registrations through LPL Financial. She is also registered with Global Retirement Partners as an Investment Advisor Representative. A proud veteran, she served as a Staff Sergeant with the Ohio Air National Guard and received the Air Force Achievement Medal.
In this episode, Eric, Chelle O'Keefe, and Janine Moore discuss:
Benefit philosophy mattersBuilding trust and partnershipThe potential for underutilized plans Building trust and transparencySimplify and educateKey Takeaways:
Companies should intentionally develop a clear benefit philosophy that reflects their goals, demographics, and employee needs, rather than just maintaining a status quo plan.Successful service provider relationships are built on more than just expertise - they require listening, education, transparency, and the ability to have difficult conversations.Even seemingly neglected or underutilized 401(k) plans can be transformed through collaborative efforts, persistent advisors, and a commitment to participant outcomes.Financial professionals should focus on simplifying complex concepts, seeing the potential in plans, and educating clients in a way that doesn't make them feel overwhelmed or inadequate.âWe are the reflection of all of the people that we spend the most time with.â - Chelle O'Keefe
Connect with Chelle O'Keefe:
LinkedIn: https://www.linkedin.com/in/chelleokeefe/
Connect with Janine Moore:
LinkedIn: https://www.linkedin.com/in/janinejeffersonmoore/
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson talks about Field Assistance Bulletin 2012-02R, focusing on participant-directed accounts and disclosure regulations (404(a)-5). Eric points out some details that are not commonly understood by many advisors and plan fiduciaries. He emphasizes the need for clear, understandable fee disclosures to participants, particularly those using revenue share or per capita fees. Eric highlights that fees must be expressed in terms a typical participant can understand. He provides examples from the bulletin, such as explaining legal expenses and record-keeping costs. Eric advises plan sponsors and advisors to collaborate and consult legal counsel to ensure compliance with these disclosure requirements.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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Jason is a key advisor at Great Gray Trust Company, specializing in CIT eligibility and investment-related matters. He negotiates agreements with plans, subadvisors, and service providers. Previously, Jason spent 13 years at Covington & Burling LLP, focusing on ERISA investing and policy issues. Committed to retirement policy, he has a proven track record of legislative and policy changes. Jason holds a JD from Columbia University and a BA from the University of Pennsylvania. He serves on the Pension Rights Center Board and frequently speaks at industry events, shaping the future of retirement planning.
In this episode, Eric and Jason Levy discuss:
The growing popularity of CITsRegulations involving CITsCIT availability Why fiduciaries should consider CITsKey Takeaways:
Collective Investment Trusts (CITs) are growing in popularity as a cost-effective alternative to mutual funds for retirement plans, offering similar investment strategies at lower costs.CITs are regulated under a regime tailored specifically for retirement plans, providing enhanced investor protections compared to mutual funds.Historically, CITs were only accessible to the largest retirement plans, but minimum investment requirements have decreased, making them available to smaller and mid-sized plans as well.Plan fiduciaries and advisors should consider adding CITs to their investment lineups, as the cost savings can significantly impact participant retirement outcomes over time.âEven in the small plan market, CITs are available, even the smallest plans through those aggregators would be able to access CITs. Regardless of the size of your plan, CIT should be on your radar.â - Jason Levy
Connect with Jason Levy:
Website: https://greatgray.com/
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/jason-levy-19783a17/
Great Gray Trust Company, LLC Collective Investment Funds (âGreat Gray Fundsâ) are bank collective investment funds; they are not mutual funds. Great Gray Trust Company, LLC serves as the Trustee of the Great Gray Funds and maintains ultimate fiduciary authority over the management of, and investments made in, the Great Gray Funds. Great Gray Funds and their units are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933, respectively.
Investments in the Great Gray Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Great Gray Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Great Gray Funds.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change.
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor Field Assistance Bulletin 2003-03, which provides guidance on how to allocate plan expenses among participants. He discusses that plan sponsors should consider writing checks for plan expenses as an effective way to manage risks in regard to plan fees. Eric explains that per FAB 2003-03 ERISA does not specify a method for fee allocation, giving fiduciaries considerable discretion. He stresses the need for a deliberative process to weigh competing interests and ensure the method chosen is solely in the interest of participants, provided it has a rational basis. Eric also warns that methods unfairly benefiting committee members could raise prohibited transaction issues. He advises reviewing this bulletin in upcoming committee meetings.
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information contained herein is general in nature and is provided solely for educational and informational purposes.
It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.
The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.
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Patrick Williams has over 39 years of experience in retirement and employee benefits consulting. As the co-founder of Fiduciary in a BoxÂź, he has created a cloud-based solution to help employers manage their fiduciary responsibilities effectively. With his deep understanding of the Consolidated Appropriations Act of 2021, Patrick offers invaluable insights to ensure compliance with evolving regulations for ERISA health plans.
Patrick earned a Bachelor of Arts in Finance from the University of Minnesota and holds the Accredited Investment FiduciaryÂź (AIFÂź) designation. He has served as president of the Minnesota Association of Health Underwriters and is a founding member of the Minnesota and Florida Fiduciary Roundtables.
A dynamic speaker, Patrick simplifies complex topics for his audience, making his presentations both educational and impactful. He is dedicated to guiding organizations toward achieving fiduciary excellence.
In this episode, Eric and Patrick Williams discuss:
Comprehensive solution for fiduciary responsibilitiesCritical coverage areas for health plans and retirement plansWho can benefit from Fiduciary in a Box? Establishing repeatable processes as a managerKey Takeaways:
Fiduciary in a Box is a comprehensive solution that helps you manage fiduciary responsibilities for both retirement and healthcare plans, providing a repeatable process and documentation.The platform covers critical areas such as governance, risk management, vendor relationships, and compliance with regulations like the Consolidated Appropriations Act (CAA).Fiduciary in a Box can be leveraged by various professionals, including employee benefits consultants, retirement plan consultants, and organizations focused on addressing healthcare cost and transparency challenges.As a young benefit manager, you can use Fiduciary in a Box to establish a repeatable process, evaluate vendor relationships, and communicate your organization's commitment to managing costs and compliance to participants and committees.âWe've created a solution that you can manage both of those responsibilities: retirement plan, and health care, with one product, which is fiduciary in a box.â - Patrick Williams
Connect with Patrick Williams:
Website: https://www.fiduciaryinabox.com
LinkedIn: https://www.linkedin.com/in/corporatefiduciary/ | https://www.linkedin.com/company/fiduciaryinabox/?viewAsMember=true
Connect with Eric Dyson:
Website: https://90northllc.com/
Phone: 940-248-4800
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/401kguy/
The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change
It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
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