BrightScope 2010 Top 30 401k Plans

Today BrightScope is pleased to announce the Top 30 401k Plans of 2010. BrightScope’s Top 30 list comprises large 401k plans with high overall quality, as measured by the BrightScope Rating. The BrightScope Rating measures how effective a 401k plan is at getting its participants to retirement. More details about the BrightScope Rating can be obtained in the FAQ section …

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Reviewing the DOL's Final Rule on Participant Fee Disclosure

Last week the Department of Labor published its final rule on participant fee disclosure, which is the last step in the Department’s three pronged, multi-year approach to increasing fee transparency in the defined contribution marketplace. Before we dive in to the participant fee regs, lets quickly review the Department’s first two fee disclosure initiatives: Disclosure to Government: The first step …

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Announcing BrightScope Beacon

This week BrightScope announced the launch of BrightScope Beacon, a revolutionary new way for asset managers to understand the retirement marketplace. We are proud to announce that MFS is the first asset manager to begin using the Beacon product. We are also happy to be working with the team at Mercatus Partners who are helping us refine and distribute Beacon. …

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SEC Comments on Target Date Fund Naming

Today BrightScope, in partnership with Target Date Analytics, filed a comment letter on the SEC’s proposed rule on Target Date Retirement Fund names and marketing. The comment period for the proposed rule ends today. In short we believe the SEC proposal has serious limitations and does not effectively address the misleading nature of target date fund names.  In our comments …

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401k Fee Transparency Legislation Inches Closer

Last week the House of Representative passed the American Jobs and Closing Tax Loopholes Bill (H.R.4213) aka “Tax Extenders Bill”. The bill is significant because it extends unemployment benefits and small business loan programs that were set to start expiring this week. To prevent lapses, many Congress-watchers expected the Senate to pass this bill before the Memorial Day holiday. But, …

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Thoughts on Morningstar's Target Date Fund Research

Two weeks ago Morningstar published its 2010 Target Date Fund Survey. In the survey Morningstar compared the performance of “open” and “closed” fund series and drew the conclusion that neither had a distinct performance advantage. This conclusion is not particularly surprising given relatively few funds have long enough return histories to do a complete analysis. However, what was surprising was …

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An Interview with Fielding Miller

Fielding Miller is the Co-Founder and CEO of CAPTRUST Financial Advisors, a widely-regarded firm on the leading edge of the emerging retirement advisory industry. Headquartered in Raleigh, NC, CAPTRUST employs 140 professionals and operates from twelve offices around the country. BrightScope: Can you tell us a little bit about CAPTRUST?  What percentage of your business is retirement plan business? How has …

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An Open Letter to Vanguard's Steve Utkus

Steve Utkus is the head of retirement research at Vanguard. Though we have never met personally, we have been fortunate enough to appear alongside Steve in articles, including this article about BrightScope that appeared in BusinessWeek. His comments in the press are generally wise and insightful which makes sense given his 25+ years of industry experience. On Monday of this …

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Real Facts about Target Date Funds: An ICI Rebuttal

At the beginning of 2010 the Investment Company Institute (ICI) released an article titled “Dispelling Target Retirement Date Fund Myths with the Facts.” This article appeared on the ICI website and was sent out widely across the industry. The article contained a list of six “myths” about target date funds that the ICI attributed to those calling for  improvements to …

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Announcing the BrightScope Personal 401k Fee Report

BrightScope is pleased to announce the launch of the Personal 401k Fee Report, a revolutionary free tool to help all 401k participants better understand the fees they are paying within their 401k plans. The tool starts by asking participants for some basic information that we need to show participants the impact of fees on their retirement balance: Next the tool …

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