Confero Summer 2015: Issue 11 | Page 4

Publisher’s Letter Welcome to the Summer 2015 Issue of Confero. Here at Westminster, our aim as a company is to provide plan sponsors with the ability to better navigate the demanding and changing ERISA regulatory landscape. We, as professionals but also as individuals, are well aware that the constantly changing regulatory environment around qualified plans is difficult to keep up with – which is why this quarter’s issue of Confero focuses on just that – painting the full picture of modern day compliance and regulations surrounding qualified plans. The cover story in this issue is Marcia Wagner’s explanation of the new fiduciary rules proposed by the Department of Labor. Ms. Wagner is extremely qualified to comment on the new laws, and her clarification makes the confusing DOL statements easier to digest and understand. Wagner also writes about the IRS’s amendments to Employee Plans Compliance Resolution System (EPCRS) in our recurring quarterly section “Res Ipsa Loquitor” – a Latin phrase meaning “the thing speaks for itself,” and always including a discussion of the current legal/regulatory landscape. Another compliance issue that is tackled in this issue of Confero is the responsibility to protect participant data. Michelle Capezza speaks to this topic in her contribution, “Participant Data and Fiduciary Responsibility in the Information/ Innovation Age,” which helps us to remember the extreme importance of correctly handling participant data, especially in a world that is growing increasingly digital where personal information must be guarded carefully in its digital state. Other articles in this issue include Alan Hahn’s article, entitled “Achieving 20/20 Fiduciary Vision,” and a CFO Research report. Hahn’s article addresses the steps a committee member should take if he or she wants to get a sense of the broader field of employee benefits. In the report prepared by CFO Research in collaboration with Prudential Financial Inc., we see that over 75% of finance executives agree that employee satisfaction with benefits is important for the ir companies’ success and is critical to attracting and retaining employees – and this article focuses on ways to enhance benefits while still managing financial risk. We hope that this issue of Confero finds you pleasantly enjoying the summer months, and that the content which lies inside gives you a broader and clearer perspective on the issues surrounding compliance and regulations as they relate to qualified plans. Sean D. Patton Thomas F. Zamiara Partner Partner 2 | Summer 2015