Understanding Erisa: A Compact Guide to the Landmark ACT

ISBN-13: 9781931611428 / Angielski / Miękka / 2002 / 144 str.

Ken Ziesenheim

Opis

Every advisor in your firm should have a copy" of this compact new guide, claims Harold Evensky, respected financial professional and author of Wealth Management. Evensky knows all too well that firms and individual advisors need to protect themselves now more than ever. In the climate of corporate scandals and market downturns - being in compliance is critical to avoiding liability challenges. But - the scope and complexity of the landmark ERISA act has left trustees and fiduciaries struggling to ensure that they remain in compliance. Now, industry pro Ken Ziesenheim's concise booklet covers the four key provisions of ERISA in simple, straightforward terms. He includes sample forms, policy statements, a glossary of terms and everything needed to make understanding -- and complying with ERISA -- as easy as a, b, c. And, he covers four all-important steps for:

• selecting and hiring a manager
• monitoring activities of outside managers
• documenting meetings to prevent complications
• And interpreting the "Prudent Investor Rule"Help make sure you -- and every professional in your firm - stays in compliance, by following the basic guidelines presented in this new work.

Spis treści

Foreword i

Introduction 1

Chapter 1. Fiduciary Conduct 5

Chapter 2. Liabilities and Penalties 7

Chapter 3. Government Agencies 11

Chapter 4. Prudent Investor Rule 13

Chapter 5. Uniform Prudent Investor Act 17

Chapter 6. Prudent Investment Procedures 25

Chapter 7. Written Investment Policy 29

Chapter 8. Sample: Investment Policy Statement 35

Chapter 9. Investment Management Procedures 45

Chapter 10. Diversification of Plan Assets 47

Chapter 11. Asset Allocation 53

Chapter 12. Risk Management 57

Chapter 13. Prohibited Investment Transactions 59

Chapter 14. Monitoring and Evaluation 61

Chapter 15. The Investment Professional 63

Chapter 16. Investment Management Consultant 71

Chapter 17. 404(C) Plan 79

Chapter 18. 401(K) Plans 95

Chapter 19. Summary 99

Chapter 20. Appendix A Supplement to A Management Agreement 101

Glossary of Investment Terminology 105

Bibliography 124

O autorze

KEN ZIESENHEIM, CFP, JD, LL.M with more than 20 years of experience in the financial services industry, Ziesenheim regularly writes for professional journals and is a popular speaker.

Blurb

The scope and complexity of ERISA has led to a widespread lack of understanding of both its basic principles and the liabilities to which trustees and fiduciaries may be subjected. This compact new guide clarifies both in simple, understandable terms. Financial advisors will find it particularly useful in establishing compliance procedures within their practices and every advisor in your firm should have a copy. Harold Evensky, Chairmain, Eversky Group and author of the best selling book, Wealth Management

The landmark ERISA legislation ushered in a new set of protections for participants in employee benefit plans, and the trustees and fiduciaries who administer them.

But, as beneficial as ERISA has proven to be for all involved those who need to comply with it most have found its far–reaching, densely written directives difficult to decipher. Consequently, many financial advisors fear they are not in compliance. And, as the Enron debacle has illustrated, non–compliance could leave advisors and fiduciaries open to liability challenges.

Now, Thornburg Securities president Ken Ziesenheim clears the air and shows professionals how to protect themselves, their firms and their clients by adhering to ERISA specifications. In clear, concise terms Ken explains 4 key provisions of ERISA which will keep anyone who writes investment objectives for clients or hires an outside manager to oversee funds in compliance. He covers all the critical steps including

• Guidelines for selecting & hiring a manager
• Monitoring activities of an outside manager
• Properly documenting meetings/activities to avoid complications
• How the Prudent Investor Rule is interpreted and applied

With sample forms, policy statements, a glossary of terms and more Ken Ziesenheim makes understanding and complying with ERISA easy.