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New York Times Quotes “Pioneer” Jerry Schlichter on Impact of New Retirement Bill

On June 4, 2019, The New York Times published an article discussing H.R. 1994, the Setting Every Community Up For Retirement Enhancement Act of 2019.This bill proposes changes to the rules governing employee retirement savings plans.

Included in the article are thoughts about these proposed changes from Schlichter Bogard & Denton’s founder and managing partner, Jerry Schlichter, described “as a pioneer in suing employers over retirement plans workers thought were mismanaged and too expensive.”

As Jerry was quoted, “In the interest of getting into the market, some insurers who are not viable for the long term could price their annuities in a way to try and enter the space. It will be up to the fiduciaries not only to monitor fees and the annuity itself, but also to monitor the solvency of the insurer.”

Coverage of this story can be found here, For additional information about Schlichter Bogard & Denton’s ERISA and Financial Abuse practice, please contact Schlichter Bogard & Denton at 1-800-873-5297 or sbd@uselaws.com.