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Guest Joel L Frank

"law Limits La School District's..."

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Guest Joel L Frank

Here is a classic case where a Federal requirement and state law collide. Long before the new 403(b) regs were issued I felt that school districts in California should execute their fiduciary duty by utilizing a single investment provider principle which offers investment funds in each of the major investment categories. With that in place all the other would-be-providers can go to Court and try to prove to the Court that the single investment provider principle is in violation of the state law which mandates that any willing provider must be allowed to sell.

 

I suggest to the LA School District that they follow my advice.

 

Joel

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