6/25/2014 · GAO's review of eight managed account providers who, in 2013, represented an estimated 95 percent of the industry involved in defined contribution plans, showed that they varied in how they structured managed accounts, including the services they offered and their reported fiduciary roles.
7/30/2014 · Of particular interest to NAPA members, the GAO recommended that the DOL consider fiduciary roles for managed account providers, require disclosure of performance and benchmarking information to plan sponsors and participants, and provide guidance to help sponsors better select and oversee managed account providers.
5/7/2018 · GAO was asked to study the PERM methodology for managed care. In this report, GAO examined the extent to which the PERM accounts for program integrity risks in Medicaid managed care, including CMS's and states' oversight.
8/18/2014 · As a result of the added fees, the GAO found that "401(k) participants who do not [consistently] receive higher investment returns from the managed account services risk losing money over time." Some managed account providers claim the funds earn a bonus of as much as three percentage points a year.
United States Government Accountability Office . Highlights of GAO-14-310, a report to the Ranking Member, Committee on Education and the Workforce, House of Representatives June 2014. 401(K) PLANS Improvements Can Be Made to Better Protect Participants in Managed Accounts
10/2/2018 · In its study, the GAO found that the PERM methodology may not account for key program integrity risks such as unidentified overpayments and unallowable costs. GAO recommended that CMS take steps to mitigate program risks not measured in the PERM, consider revising the PERM methodology, or focus additional audit resources on managed care.
7/31/2014 · In its study, the GAO found there's room for improvement for managed account providers, at least when it comes to spelling out details on fees, performance and benchmarking.
8/11/2014 · Using the limited fee and performance data available, GAO found that the potential long-term effect of managed accounts could vary significantly, sometimes resulting in managed account participants paying substantial additional fees and experiencing lower account balances over time compared to other managed account participants.
Managed accounts can be a powerful tool for plan participants if implemented with complete financial information at a reasonable cost. The basic premise of a managed account is the construction of a completion portfolio with participants' defined contribution (DC) assets, built around their whole asset profile and individual circumstances.
8/20/2014 · Without a minimum of five years published performance against other available QDIA’s in their 401k account, an employee cannot make an informed decision. We all learned in 2008, Wall Street looks out for their interests, not yours. The recent GAO report on Managed Accounts in your 401k’s without any published performance is your wake-up call.
But the GAO study, citing Vanguard data, reported that "published returns for managed account participants" were "generally less than or equal to returns" of other popular 401(k) investments, including target date funds or balanced funds invested in a mix of stocks and bonds.
7/29/2014 · The GAO also looked at the “limited fee and performance data available” and found that long-term benefits of managed accounts “could vary significantly,” given the wide range of fees ...
Managed account. A managed account is a portfolio of stocks or bonds chosen and managed by a professional investment manager who makes the buy and sell decisions. Each managed account has an investment objective, and each manager oversees multiple individual accounts invested in the same basic portfolio to meet the same objective.
5/11/2017 · Another relevant example is the Government Accountability Office’s (GAO’s) 2014 Managed Account report. The report recommended a number of factors for the DOL to consider — including consistent fiduciary roles, improved performance and benchmarking disclosures, and oversight guidance — to help sponsors select providers.
10/23/2015 · Returns Higher for Managed Account Users: Study A new white paper posits that investors who arent using a managed account solution arent just struggling to keep up, theyre falling behind.
4/10/2019 · Our stock-in-trade is making recommendations to agencies to help improve government operations and reduce costs. And we make a lot of recommendations—as of this month, we have over 4,700 open recommendations.. To help agency leaders focus on the most important challenges facing their departments, we send them letters singling out recommendations that warrant priority attention.
10/17/2017 · Managed retirement accounts can use data about individual employees to offer personalized portfolios designed just for your client. ... *A total of 58,444 participants were included in the study ...
One problem when 401(k) account holders opt for managed accounts is getting participants to interface with the data and provide all necessary information to the account manager, Scheinberg said.
The GAO traces some of these problems to a delay in the Centers for Medicare & Medicaid Services’ planned Medicaid managed care guidance to states; limited implementation of new auditing practices CMS introduced in 2016; and CMS’s failure to account for overpayments to providers when it reviews state capitation rates for Medicaid managed ...
7/31/2018 · The federal government should do more to help states ensure the accuracy and integrity of their payments to Medicaid managed care organizations and the payments those Medicaid managed care organizations make to health care providers. This is the conclusion reached in a new study of Medicaid managed care performed by the U.S. Government Accountability Office at the request of the …
4/26/2018 · The Federal Communications Commission (FCC) holds the Universal Service Funds’ $7 billion account in a private bank account which they pay $1 million in annual fees to manage. GAO recommended that these federal dollars should be managed by the Treasury in 2005.