August 26, 2012

Bradford Campbell Quoted in Pensions & Benefits Daily

Washington, D.C., counsel Brad Campbell was quoted in Pensions & Benefits Daily on the Department of Labor’s (DOL) interest in brokerage window-only plans, which he says will depend on the results of the impending presidential elections.

Brad predicted that if President Obama wins a second term, DOL officials will address their concerns about brokerage windows, at least with respect to Section 401(k) plans that offer a brokerage window and no other selected investments.

He said the DOL appears to be questioning “whether it is a violation of fiduciary duty to offer a brokerage window-only plan.” He added that he is unaware of problems created by brokerage-window-only plans that would justify DOL's interest.

“Brokerage-window-only plans are a perfectly appropriate plan design,” he said.

Brad said he thinks this issue “goes away unless there is evidence of an actual problem in need of a solution,” should the republicans win. “So far, DOL has not made its case,” he said.

To read the entire article, click here.

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