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Video instructions and help with filling out and completing Form 5500
Some of the 5500 forms are pretty archaic and it's only a lawyer like yourself who can really understand them where do you think advisors should go to get help in their due diligence when they're looking at these forms it's really necessary to educate yourself again remembering that the standard to which an advisor is held under the law is that of a prudent financial expert familiar with industry practices so you have to do in many cases you may have to advise the sponsor that they should be furnishing more information under 5500 you may have to ask the sponsor for additional documentation of things such as expenses and investment options and in addition to to doing those things if you don't dig into it then you're advising with blinders on what you don't want to do now that we've got three disclosure requirements from the DOL much more enhanced than before it should be very possible for the sponsor to break those fees down and they should be doing that anyway so if they're not filling out the 5500 form correctly the plan advisors should be in a position to tell them how they should change let's talk about some of the specific cases that you've been involved in Boeing for instance 57 million dollar settlement it's a lot of money but in the greater market cap scheme a Boeing it's not do you think real change is going to come about as a result of the settlement absolutely in fact we insisted in that and other settlements even after money was agreed on that we would not settle the case unless there were reforms to the plan to change the things going forward and benefit participants in fact in the bullying plan and in other plans the value of those changes in the plan going forward is greater than the amount of the actual settlement in dollars for in Boeing for example during the course of the litigation Boeing did things moving its massive and it is massive 46 billion dollars second biggest in the United States moved it from mutual funds to separately managed accounts which as most people know can be obtained for foreign lower rates they hadn't had record-keeping bids for 10 years during the course of the litigation we said they should have had them and they did that while the case was pending for over nine years so changes came about that have value greater than that 57 million dollars to the participants and that's a good thing for the workers and retirees and not only Boeing but in many other plans you recently brought an excessive fee case against anthem which reference is doesn't target but references Vanguard are you crazy to bring an excessive fee case that involves Vanguard what's your reasoning behind this I understand that question John Vanguard without doubt is a very low cost mutual fund family however Vanguard offers various levels of various share.