When I became president, health insurance -- health costs have been going up at three times the rate of inflation for many years and all of us knew it was totally unsustainable.
Back in March of 2000, when the indexes were at all-time highs, the valuations of many top companies were inflated, going for 40- or 50-times current earnings or more.
In order to ensure that consultants are atalltimes free of any conflicts in recommending managers, plan sponsors should establish the following on-going procedure: whenever a consultant recommends managers to the plan sponsor, disclosure should be made at that time of any fees or other consideration paid by the manager to the consultant in the previous three years.