Peter Wang

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Phone: (714) 283-2377
Fax: (714) 283-7166

 

Peter brings 20 years of experience in the financial services industry, and has a mission to be an independent, client focused, and innovative advisory services firm, specializing in Due Diligence and Fiduciary Responsibilities of the 401(k) and 403(b) Plan Sponsors.

 

“Your 401k Steward”

ERISA holds plan fiduciaries to a high legal standard….the responsibilities of fiduciaries have been described as the highest known to the law”  (Donovan v. Bierwirth, 680 F. 2d 263, 272 (2d Cit. 1982))  Obviously, not all fiduciaries have the skills needed to satisfy these high standards.  Fortunately, ERISA permits fiduciaries, and in fact requires them, to get help when they need it.”  Fred Reish/Joe Faucher

 

Participants in 401(k) retirement plans can sue to recover losses when their investment instructions are ignored or the account is mishandled, the Supreme Court ruled on February 21, 2008.  With 70 million people holding about $3 trillion in 401(k) investments, the 9-to-0 decision was one of the most important rulings in years on the meaning of the federal pension law known as ERISA.  The New York Times.

 

“Your 403b Steward”

Under the new regulations, Plan Sponsors are required to execute a written Plan Document that provides operational and governing provisions of the plan.  All provider accounts will need to be approved by the plan and enter into sharing agreements with the plan.  In addition, all contract exchanges after December 31, 2008, will require transfer agreements and must be permitted by the plan document.  Non-compliance with the regulations could jeopardize the tax status of the contracts.  New 403(b) Regulations are here.  Are you ready?

 
*Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed.

 

 

 

Qualifications and Educations:  Peter Wang, EMBA, AIF

 

  • University of California Los Angeles – BA
  • Claremont Graduate University/Peter Drucker Graduate School of Business – Executive MBA
  • National Institute of Pension Administrators – Accredited Pension Representative
  • PLANSPONSOR Institute – PLANSPONSOR Retirement Professional
  • Center for Fiduciary Studies in association with the University of Pittsburg Joseph M. Katz Graduate School of Business – Accredited Investment Fiduciary
  • Royal Alliance Associates Inc., – Registered Principal

20 years of experience in the financial services industry