Retirement guardrails :: how proactive fiduciaries can improve plan outcomes /: Ian Ayres, Yale Law School, Quinn Curtis, University of Virginia School of Law.

Name: Retirement guardrails : how proactive fiduciaries can improve plan outcomes / Ian Ayres, Yale Law School, Quinn Curtis, University of Virginia School of Law.
ISBN: 9781009001007

Ayres, Ian,; Curtis, Quinn,

Retirement guardrails : how proactive fiduciaries can improve plan outcomes / Ian Ayres, Yale Law School, Quinn Curtis, University of Virginia School of Law.

Ayres, Ian, 1959- author.; Curtis, Quinn, 1979- author.

2023

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Author

Ayres, Ian, 1959- author.

Title

Retirement guardrails : how proactive fiduciaries can improve plan outcomes / Ian Ayres, Yale Law School, Quinn Curtis, University of Virginia School of Law.

Added Author

Curtis, Quinn, 1979- author.

Imprint

Cambridge, United Kingdom ; New York, NY : Cambridge University Press, 2023.

Description

1 online resource (viii, 204 pages) : digital, PDF file(s)

Formatted Contents Note

Introduction
The case for proactive fiduciaries
Fees and dominated funds
Of lawsuits and letters
What more fiduciaries should learn : assessing the prevalence of allocation errors
What more fiduciaries should learn : assessing whether participants portfolios perform poorly
What fiduciaries can do to remedy menu misuse : different ways to implement streamlining and guardrailing
How should fiduciaries trade-off divergent participant interests?
Can streamlining and guardrailing mitigate allocation error?
The growing misuse of brokerage windows
Conclusion.

Summary

Scores of lawsuits have pushed retirement plan sponsors to shorter, easier-to-navigate menus, but - as Ian Ayres and Quinn Curtis argue in this work - we've only scratched the surface of retirement plan design. Using participant-level plan data and straightforward tests, Ayres and Curtis show how plan sponsors can monitor plans for likely allocation mistakes and adapt menus to encourage success. Beginning with an overview of the problem of high costs and the first empirical evidence on retirement plan fee lawsuits, they offer an overview of the current plan landscape. They then show, based on reforms to a real plan, how streamlining menus, eliminating pitfalls, and adopting static and dynamic limits on participant allocations to certain risky assets or 'guardrails' can reduce mistakes and lead to better retirement outcomes. Focusing on plausible, easy-to-implement interventions, Retirement Guardrails shows that fiduciaries need not be limited to screening out funds but can design menus to actively promote good choices.

Note

Title from publisher's bibliographic system (viewed on 12 Jun 2023).

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Access provided by Berkeley Law Library

Alternate Title

Cambridge Books Online.

Language

English