Category Archives: fiduciary

When a Section 115 Pension Stabilization Trust is “Too Good To Be True”

By Jeff Chang To prepare for and manage significantly increased CalPERS employer contribution rates in the coming years, California public agencies  approved the establishment and funding of so-called “pension rate stabilization trusts.” Clients have asked for evaluations of the various … Continue reading

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Lessons From the Private Sector: Takeaways From Recent ERISA Plan Fiduciary and Fee Litigation

By Jeff Chang This is a blog about “public” benefits issues — one that focuses heavily, but not exclusively, on California developments. If we are focusing on California’s public agency retirement and welfare plans — which are generally exempt from … Continue reading

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Recognizing That All “Rates of Return” Are Not the Same

By Jeff Chang As a “baby-boomer” and one of the millions of my generation getting ready for retirement, I’ve naturally begun to focus more on the ups and downs of the stock market and all of the “advice” regarding how … Continue reading

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Why Hire A “3(38)” Adviser For A Public Agency 457(b) Or 401(a) Plan?

By Jeff Chang Most public sector retirement plan sponsors understand that even though their plans may not be subject to the fiduciary duties and responsibilities of ERISA, they are still subject to fiduciary duties under applicable State law.  Moreover, certain … Continue reading

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Does Your Plan Have A Proper Fiduciary Structure?

By Jeff Chang Recently, we have dealt with an “epidemic” of retirement plans, both very large and very small, that all have the same problem – the lack of a proper fiduciary structure.  Why? As with so many personnel and … Continue reading

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