Private Pensions: Conflicts of Interest Can Affect Defined Benefit and Defined Contribution Plans
Sub-Title:
Congressional TestimonyAuthor:
Charles A. JeszeckPublisher:
DIANE Publishing CompanyPublication Date:
06-01-2009ISBN:
9781437914603Pages:
16Subjects:
LawDescription:
Conflicts of interest typically exist when someone in a position of trust, such as a pension consultant, has competing professional or personal issues. Such competing interests can make it difficult for pension plan fiduciaries and others to fulfill their duties impartially. The proliferation of consulting work and the complexity of business arrangements among investment advisors, plan consultants, and others have increased the likelihood of conflicts of interests for both defined benefit (DB) plans, and defined contribution (DC) plans. This is a report on: (1) the effects undisclosed conflicts of interest may have on the financial performance of DB plans; and (2) the vulnerabilities that conflicts of interest may pose for DC plan participants. Illus.
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