Meet the Government's new CIO: Vivek Kundra

Many in Washington are excited about Obama’s new Chief Information Officer Vivek Kundra, and it is easy to see why. This 34 year old technologist has a unique approach to technology in government: On Moving to the cloud: “The cloud will do for government what the Internet did in the’ 90s. . .  It’s a fundamental change to the way …

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Advocating for Transparency

At BrightScope we are absolutely committed to bringing an increased level of transparency to the 401k market.  We believe that transparency will restore confidence in the 401k system and benefit all of the participants who rely upon 401k plans for a portion of their retirement income.  In that spirit, we mailed a letter this week to Attorney General Eric Holder …

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Implications of the Deere Decision

Last week, Justice Diane Woods of the federal 7th Circuit Court of Appeals decided on Hecker v. Deere in favor of the Deere defendants.  The decision deals a major blow to Schlichter, Bogard & Denton, the St. Louis law firm with 13 other ERISA lawsuits pending against some of the largest 401k plan sponsors in the country. While lead attorney …

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Our Commitment to Objectivity

We at BrightScope have had the good fortune to speak with hundreds of plan sponsors, financial advisors and other industry participants over the past few months.  One of the most consistent themes we have heard from everyone is the importance of our independence.  If plan sponsors and service providers are going to rely upon us to provide them with high …

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BrightScope Launch Party!

Last night BrightScope had its official launch party at the Karl Strauss Brewery in La Jolla.  We want to take this opportunity to thank everyone for coming, and send a special thanks out to Chris Cramer for hosting us!  Here are some of the highlights: Eddie and Chris. Ryan, Kirsten and Bish. Jennifer, Mrs. Cebron, Didi Alfred and Nelson. Ryan, …

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Hidden Subsidies in the Structure of 401k Fees

The Center for Retirement Research at Boston College put out an interesting brief this month on 401(k) fees.  While the brief didn’t contain anything completely new, it did tackle two issues that are very important, yet rarely discussed.  Both of these issues highlight a non-obvious subsidy that is incurring within 401k plans: 1.  Matching Fee Structure with Service Structure:  If …

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Blog Coverage

Over the course of the day we have received a lot of great coverage from bloggers.  Here are a few of the highlights: Retirement Plan Blog U.S. News and World Report Josh Itzoe- Fixing the 401k The Float Fi360 Blog Thanks for the links and the kind words!

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Brian Graff – ASPPA

Mike and I had a great conversation with Brian Graff, the Executive Director/CEO of the American Society of Pension Professionals & Actuaries (ASPPA).  We are looking forward to catching up with Brian when we visit Washington DC later this year to meet with other key stakeholders in the private pension system. Ryan, Brian and Mike during a break at the …

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