In this episode of Friday Fiduciary Five, Eric Dyson talks about the Department of Labor's (DOL) proposed rule on private assets like private equity, credit, and real estate in defined contribution plans. The rule, expected for public comment very soon, will likely emphasize the fiduciary process for selecting and monitoring investments rather than setting specific asset allocation caps. Dyson highlights the importance of liquidity, valuation, and fee transparency in managing private assets. He suggests that committees and advisors should develop a clear evaluation framework, document decision-making processes, and align these with appropriate experts.

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.

The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

George Fraser is Founder and Chief Revenue Officer at GigMatch. This new “APP” will address the 96% of Americans who are currently feeling financial stress daily. Developed with his partner Tom Kmak, GigMatch will provide “HOPE” through opportunities to enhance income and lifestyle both today and in retirement. Before GigMatch, Fraser spent 34 years partnering with employers to craft exemplary retirement plans, execute their fiduciary responsibilities, and change the dynamic for retirement plan participants with a simple and easy-to-understand model. Shlomo Benartzi and his team at UCLA, Carnegie Mellon, and Cornell conducted extensive research based on his “Pennies on the Dollar®” educational concept. In 2017, Fraser was named the inaugural recipient of 401 (k) Specialist Magazine's “TAPO”, Top Advisor for Participant Outcomes. In 2022, Fraser was named PLAN ADVISER Retirement Plan Adviser of the Year in the Community Impact and Giving Back category. He is a Chartered Retirement Plans Specialist (CRPS), Accredited Investment Fiduciary (AIF), Professional Plan Consultant (PPC), and Certified Behavioral Financial Analyst (CBFA).

In this episode, Eric and George Fraser discuss:

• Shifting retirement messaging
• Visualizing financial progress
• Leveraging side gigs
• Empathizing with real-life challenges

Key Takeaways:

• Focusing on hope and empathy instead of fear or shame helps participants feel capable of saving and encourages proactive financial behavior.
• Concrete, relatable examples like pennies or props make abstract concepts such as compounding and long-term savings easier to grasp and remember.
• Connecting personal skills, passions, or unused assets to curated income opportunities allows people to increase earnings while maintaining lifestyle and meaning.
• Acknowledging individual circumstances and offering practical, achievable solutions builds trust, reduces shame, and motivates consistent financial action.

“How have we been making people feel in this country about saving for retirement? It’s time to stop shaming them to save. It’s time to stop creating fear. We can have hope and optimism, and that is key. We need to have empathy.” - George Fraser

Connect with George Fraser:

LinkedIn: https://www.linkedin.com/in/drgeorgecfraser/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information and content of this podcast are general in nature and are provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date, but may be subject to change.

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design, or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.

The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.

In this episode of Friday Fiduciary Five, Eric Dyson talks about ERISA 404(c) protection. He emphasizes the importance of this regulatory Safe Harbor, which shields fiduciaries from liability for participant-directed investment outcomes if certain conditions are met. Key requirements include offering a broad range of investment options, daily liquidity (although not explicitly stated in 404(c) - the norm for these days), and sufficient information for informed decisions. Also required disclosures to participants that the plan intends to comply with ERISA 404(c). Eric notes that many plans may not fully comply, especially with explicit 404(c) disclosures. He advises plan fiduciaries to revisit their compliance, confirm distribution of 404(c) notices, and document their processes to ensure they meet all requirements.

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice, or legal advice.

The specific facts and circumstances of all qualified plans can vary, and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.

The opinions expressed by guests on the Be More Than a Fiduciary podcast are not necessarily the same as the opinions held by 90 North Consulting, or of Executive Director Eric Dyson.