PLUGGED IN – The Hard Facts About the Hard Close

In the wake of the mutual fund scandal, the SEC has proposed a series of reforms, several of which have potentially severe consequences for plan sponsors.

High on that list is the so-called “hard close” proposal that would require all mutual fund trades to be placed at the fund company by 4 p.m. If enacted in its current form, industry experts say it could have a dramatic impact on how 401(k) plan participants interact with their accounts.

PLANSPONSOR’s continuing “Plugged In” webinar series featured insights from industry experts fresh from the Hill where they discussed the issues with the Securities and Exchange Commission: 

Bob Wuelfing , President and founder of SPARK Institute, the legislative arm of the Society of Professional Administrators and Recordkeepers.

Larry Goldbrum , Senior Vice President and Chief Risk Officer, Wachovia Retirement Services. He is also chairman of the SPARK Institute task force on the SPARK Alternative to the “Hard 4”.

Nevin Adams ,Editor-in-Chief of PLANSPONSOR/  

Mark Davis , President of Mark A. Davis Consulting, Inc.

Fred Reish ,managing director and partner of the Los Angeles-based law firm of Reish Luftman Reicher & Cohen.

As well as questions, comments, etc. from plan sponsors who participated in the August 26, 2004 Webcast.

The audio is  HERE

The powerpoint presentation alone is  HERE