Managed accounts have been around for a while in workplace retirement plans. However, according to my guest Jason Roberts, the founder and chief executive officer of the Pension Resource Institute, a consulting firm that delivers compliance, training and technology-based solutions to financial institutions and plan fiduciaries, we are on the verge of major transition to managed accounts 2.0 which will have benefits and implications for retirement plans, employers and plan participants. We logically start with what a managed account is, some general pros and cons, how they differ from target date funds and more. Then we delve into the what managed accounts 2.0 will look like, how this could lead to high utilization as default funds in retirement plans, benefit participants and the fiduciary implications for employers. Jason, who is also the founder and managing partner of Retirement Law Group, a law firm specializing in ERISA, tax and investment related matters shares thoughts on how to monitor managed account providers and why the DOL tips for target date funds could apply and how tips is probably understated. Lot’s of great stuff to dig into. 

 

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Guest Bio

Jason C. Roberts, Esq. is the founder and managing partner of Retirement Law Group (RLG), a law firm specializing in ERISA, tax and investment related matters. He is also the founder and chief executive officer of the Pension Resource Institute (PRI), a consulting firm that delivers compliance, training and technology-based solutions to financial institutions and plan fiduciaries serving retirement investors.

Jason currently represents clients in a variety of capacities, including business transactions as well as SEC, FINRA, DOL and IRS compliance and investigative matters.

He also provides counsel to employers with respect to the successful development, implementation and ongoing management of their employee benefit plans.

Prior to founding PRI and RLG, Jason was a partner and co-chair of the Financial Services Group at a national ERISA law firm and the head of the Investment Fiduciary practice for a prominent securities litigation defense firm.

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Jason has been repeatedly recognized as one of the 100 Most Influential in Defined Contribution by the 401(k) Wire and a Rising Star by SuperLawyers Magazine. He was selected by InvestmentNews as one of the Top 40 Advisors and Associated Professionals under 40, and The Wall Street Journal tapped Jason to participate in its Ask the Experts series answering readers’ questions relating to the Department of Labor Fiduciary Regulation.

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Jason has published numerous articles focusing on ERISA compliance, fiduciary best practices and is a frequent speaker at retirement plan and financial industry conferences. He is a contributing author and faculty member for the Practicing Law Institute.

Jason received his B.S.B.A. in Finance & Banking from the University of Missouri and his J.D. from UCLA Law School.

401(k) Fridays Podcast Overview

Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 175 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!