Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 31st, 2015
Benefits & Administration
A Plan Sponsor Hires a 3(38) Investment Manager
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 >