CIEBA Executive Director comments on Post-OCIO in CIO Magazine
CIO Magazine’s latest article on “Post‑OCIO Life” includes insights from CIEBA Executive Director, Dennis Simmons, on the risks sponsors face when internal investment expertise is outsourced. Simmons emphasizes that ERISA accountability stays with the sponsor, even as certain investment functions move outside—reinforcing that strong governance requires both a capable, independent challenge function and the in‑house expertise to apply it on behalf of participants. The piece is a timely reminder that sponsors should not undervalue the importance of maintaining meaningful internal oversight capacity when weighing the benefits and trade‑offs of an OCIO model.
EBSA Testimony Highlights
EBSA Assistant Secretary Dan Aronowitz testified before the House HELP Subcommittee on April 16, outlining a regulatory approach centered on greater fiduciary discretion, reduced litigation pressure, and more targeted enforcement. CIEBA has prepared a quick alignment snapshot showing how these themes intersect with our Members’ priorities
CIEBA in the News
Earlier this month, CIEBA Executive Director, Dennis Simmons (center), joined a panel at an Institutional Investor event in Washington, D.C., where he underscored that the headwind with DC adoption of alternatives has little to do with plan sponsor capability or interest.
As he put it, “it’s the specter of litigation,” a point reinforced by the Intel case, where “even prudent, well‑documented decisions can lead to a decade of litigation.” Simmons emphasized that what fiduciaries truly need are higher pleading standards to curb frivolous DC lawsuits — the only path to responsible innovation.
He also noted that, for many employers sponsoring both DB and DC plans, an even more immediate priority for improving participant outcomes is securing clearer rules to responsibly use pension surpluses to support other employee benefits, including DC matching contributions.
CIEBA Executive Director, Dennis Simmons, was recently interviewed by Institutional Investor Magazine on several important issues facing investment fiduciaries going into 2026.
