NEW YORK, June 14 /PRNewswire/ -- OppenheimerFunds Retirement Services today announced new tools intended to help plan sponsors tackle the challenges that have arisen amid a changing regulatory landscape. The tools serve as a resource for sponsors looking to revisit current procedures and glean best practices that can help them better manage their fiduciary responsibilities.
Guide to Help Participants Understand Plan Fees and Expenses
Excessive plan fees can hinder participants' efforts to save for retirement, and litigation, legislation and regulation concerning plan fees is on the rise. To help advisors better manage these changes, OppenheimerFunds Retirement Services recently introduced a new guide, "Plan Fees and Due Diligence – Considerations to Help You Manage Your Fiduciary Duties," that discusses lessons learned from recent fee litigation and the long-term impact of excessive fees. This brochure includes a worksheet to help plan sponsors evaluate plan fees and expenses.
Tool to Educate Advisors and Sponsors on Regulatory and Legislative Updates
To help advisors and sponsors become better educated on recent regulatory and legislative changes, OppenheimerFunds Retirement Services recently launched a new program called "Form 5500 Schedule C Rules: What You Should Know as Plan Sponsor." The program discusses the changes to the Form 5500 Schedule C and how they impact plan sponsors.
New Plan Review Online Demo
The goal of a plan review is to help sponsors monitor their plans' progress and identify inconsistencies between objectives and current policies. To assist, OppenheimerFunds Retirement Services provides a quarterly plan review that contains plan demographic data, comparisons to industry benchmarks and information on the plan's investments. OppenheimerFunds Retirement Services has created an automated online demo to educate sponsors on how to effectively review their plans while focusing on the areas that provide the most value.
"The online demo can help sponsors focus their efforts and address questions on how to effectively utilize a plan review," said Gayle Leavitt, Vice President, OppenheimerFunds Retirement Services. "It will guide clients on the benefits and critical features of our Plan Reviews while demonstrating our commitment to helping them manage their fiduciary responsibilities."
OppenheimerFunds Retirement Services continually seeks ways to further educate and offer enhancements to participants, plan sponsors and financial advisors to deliver Plans that Work. "In a constantly evolving marketplace, it's critical to frequently assess and enhance the resources we make available to participants, plan sponsors and financial advisors," said Leavitt.
About OppenheimerFunds, Inc.
OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. The Oppenheimer funds managed by OppenheimerFunds, Inc. have nearly 6 million shareholder accounts.
Shares of mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
OppenheimerFunds is widely recognized as a leader in educating and empowering investors and for its award-winning customer service.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and if available, summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting our website at www.oppenheimerfunds.com, or calling us at 1.800.525.7048. Read prospectuses and if available, summary prospectuses, carefully before investing.
OppenheimerFunds are distributed by OppenheimerFunds Distributor, Inc. Two World Financial Center, 225 Liberty Street, New York, NY, 10281.
SOURCE OppenheimerFunds, Inc.