| As is true for many small business owners,
selecting and monitoring retirement plan investments wasn’t Hollis Lamon’s
full-time job. He needs to focus on running and growing his business. “Picking
retirement plan investments takes time, inclination and knowledge,” Hollis,
president of Lamon and Stern, Inc., an Atlanta-based broker/dealer, tells
PLANSPONSOR. “It didn’t make sense from a fiduciary standpoint for me to be
picking the funds and responsible for funds when I can have someone else do it
for me.” Hollis says the new fee reporting requirements established by updates
to Employee Retirement Income Security Act (ERISA) sections 404a-5 and
408(b)(2) in 2012 also led him to seek help.Read more > |
