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