Author: Dennis Myhre
Taking Control of Your 401(K)
There will be a “push” to involve more employees in the 401(k) program in 2019. Laws are in the works to make the retirement program “mandatory” for all employees working in the United States. Anytime the Feds push for more involvement by their constituents, especially where money is involved, they…
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Anatomy of a Fraud….
In 2010, the names of 41 of the Principal Group of Companies ranking executives, including board members, appeared on the SalesForce.com website featuring those same executives as Officers of Provident State Bank in Maryland. The psbinc.net website was created in 2004, and the first update was on 12-01-2010, exactly 30…
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Is Principal’s spending spree linked to laundered money?
Principal’s spending spree in the mid-2000’s was dumping billions of 401(k) money into paying off their own equity debt and that of their partners in commercial investments, while a small bank in Tallinn, Estonia was engaged in the largest money laundering scheme ever to hit Europe, Beginning in the mid-2000’s,…
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The SEC will never approve a Fiduciary Standard
Reasons the SEC will never approve a Fiduciary Standard… There has been a lot of discussion in recent months about the Securities and Exchange Commission stepping up to protect investors with a “Fiduciary Standard” of care. Following a huge volume of fan-fare, the SEC went silent on the use of…
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Managing 401k Risk
On October 16, 2008, Time magazine published a story written by Alyssa Fetini entitled A Brief History Of The 401k. The article opens with a troubling statement….. “With some $3 trillion invested, these plans are the most popular retirement -savings vehicle in the U.S.–and account for a big chunk of…
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Principal Life…The failure of ERISA to protect Your 401k plan
Principal Life Insurance Company… Thanks to the failure of yet another Federal program to protect workers under the Employee Retirement Income Security Act of 1974 (ERISA), the American worker is left with the burden of securing his own retirement future, while paying for the past mistakes of our government. But unfortunately, the problem…
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Fake Advisers…. is Principal Funds using them?
Principal Funds describes itself as a global asset management firm with over $130 billion in assets under management. The fund company is part of Principal, a large diversified financial services firm dealing in retirement plans, mutual funds and insurance products. If you were able to access any of the Principal…
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Your 401k Plan…Corruption, Crime, or Compliance?
Corruption,Crime, and Compliance is a title for a Blog published by a noted attorney, Michael Volkov, headquartered in Washington, D.C. While Mr. Volkovs’ focus is the Foreign Corrupt Practices Act (FCPA), he could well be writing about your 401k in today’s world of financial crime and corruption. There is a…
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Benchmark your 401k Plan
How to benchmark your 401k plan…… If “benchmark” is not a familiar term, you’re not alone….. but this post will help educate you. Most insurance companies “compare” the products they offer a 401k investor against a benchmark. If their investment products meet or exceed a benchmark for similar products, they…