Products October 18, 2007

TRI-AD Introduces 401(k) Full Fee Disclosure Guarantee

October 18, 2007 (PLANSPONSOR.com) - TRI-AD has introduced a written Full Fee Disclosure Guarantee as an integral part of its Defined Contribution Plan daily valuation recordkeeping service.
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According to a press release, TRI-AD has provided full fee disclosure since the early 1990s, but will now formalize that arrangement in the form of a contract certifying that all revenue collected is fully disclosed to the plan sponsor and financial adviser.  

The Escondido, California-based firm says that all revenue sharing TRI-AD collects is fully disclosed and rebated to offset administration and recordkeeping expenses, and that TRI-AD does not receive any additional compensation either for having multiple plans with a single custodian or for using specific investment options within a given plan.  

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The firm says that as a result, plan fiduciaries know that all fees have been disclosed and that participants’ interests are always being served – and because understanding and managing plan fees and expenses is a key fiduciary responsibility, TRI-AD’s full fee disclosure guarantee helps their clients mitigate the personal liability associated with having a fiduciary obligation to the plan.  

TRI-AD was founded in 1974 as a defined benefit plan administration firm, and over the years has grown service offerings to cover a complete range of benefit administration services.   According to the firm, TRI-AD is currently the largest privately-owned benefits administration firm in Southern California, with over 1,000 clients nationwide.

For more information, visit www.tri-ad.com .

Benefits October 17, 2007

30% of Employees Say Boss Lacks Leadership Skill

October 17, 2007 (PLANSPONSOR.com) - More than 35% of employees do not consider their boss a leader and 30% of employees do not think their boss is qualified for the position, according to a survey by SkillSoft, which provides e-learning and performance support solutions.
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According to a press release about the survey, employees in IT were the most likely to attest to their boss’ leadership skills (65%), while more than half of employees (51%) in sales and marketing-related roles questioned the leadership skills of their supervisor.

“This new report uncovers an all too common challenge plaguing businesses,” said John Ambrose, Senior Vice President of Strategy, Corporate Development & Emerging Business for SkillSoft, in the press release. “Managers are likely to receive little or no guidance in developing strong leadership skills. However, management training is an integral component for enhancing employee productivity, improving job satisfaction, reducing employee turnover and maintaining agility in the workforce.”

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According to SkillSoft, most of these leadership skills can be acquired through a corporate training program that incorporates a mix of e-learning components such as knowledge portals, leadership training videos and online content geared towards management and leadership issues.

The study included interviews with more than 200 employees, ranging from entry-level to executive positions across the U.S.

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