Volusia/Flagler Chapter of the Society of Human Resource ...



365760011430000Volusia/Flagler SHRM Chapter Affiliate of the Society for Human Resource Management (SHRM)Program Description for HR Certification Institute:Title of Educational Activity (should reflect the HR-related content of the event). Recent Case Studies in Fiduciary Failures: Why Plan Sponsors Are Being Sued and the Importance of Process Please describe why the presenter(s) is/are uniquely qualified to teach this subject (include presenter’(s) biography)Mike Malinsky, Retirement DirectorMike Malinsky is a Retirement Director for Janus Retirement Strategy Group. In this role, he is responsible for facilitating sales, servicing and strategy implementation with wholesalers, financial advisors, and insurers that act as intermediaries for Janus' products. Previously, Mike spent 11 years at Genworth Financial where he was Vice President and Funds Manager and was in charge of managing all mutual fund relationships within Genworth’s variable annuity and group annuity policies. Mike has been in the financial services industry for 21 years and is a graduate of Virginia Commonwealth University, where he earned a bachelor of science degree in finance and a master of business administration. He also holds Series 7 and 63 FINRA licenses, along with the Chartered Retirement Plans Specialist (CRPS?) and Chartered Retirement Planning Counselor (CRPC?) designations.As part of Janus’ Defined Contribution/Wealth Advisor Strategies team, Mike Malinsky, brings more than 20 years of experience in the financial services and defined contribution marketplace to the table. During this time he has presented programs to numerous retirement plan sponsors, record keepers, financial advisors, CPAs and HR professionals who face the challenges of offering and running retirement plans on a daily basis.His technical and real life experience allows him to meet the needs of our clients and offer them information they can use to improve their competency. As regulations increase when it comes to retirement plans, the more important our job becomes in providing programs that offer up real life scenarios with actionable takeaway items.Please describe the content of the activity, including learning objectives, and how it will add to Human Resources professional’s knowledge (see below for an example of a recent submission). The content and learning objectives of this activity will greatly enhance a Human Resources professional's knowledge in worksite wellness, by learning how to contribute to and impact their organization through improved employee wellness and increased productivity. It will also teach them strategy and the means by which to offer free resources to employees and bridge the gap between their employees and access to cessation resources.In this presentation we will provide an overview of recent class-action lawsuits that have affected 401k plans, the companies that sponsor them and their plan participants. Along with a general overview of these cases we will provide a list of common themes and issues that have come up in these cases which will help financial advisors, business owners and HR professionals know what stumbling blocks to be aware of within the plans they advise or sponsor.Details will also be provided on what lessons we’ve learned from these cases. In this section issues such as fees, share class choice and investment policy adherence will be covered. We will provide information on what went wrong within these plans and what should have been done, or can be done to ensure lawsuits like these aren’t brought against companies going forward. Finally, we will provide an Action Plan that will provide best practices in the areas of fees, revenue sharing, Investment Policy Statements and the use of company stock within a 401k plan. We feel that by providing this action plan, financial advisors and the business professionals they work with will have a process in place to better set up and manage 401k plans that are safe from these class action lawsuits and better ensure positive participant outcomes. ................
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