EBSA Unveils Fiduciary Education Web Site >
October 09, 2007 -- The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) on Tuesday unwrapped a new Web site designed to help employers better comply with federal employee benefit laws under the Employee Retirement Income Security Act (ERISA).
Is Something Wrong With a Plan? IRS Shares Common 401(k) Mistakes >
October 09, 2007 -- The Internal Revenue Service (IRS) has released a list of the 11 most common mistakes made in the administration of 401(k) plans and how to correct or avoid those errors.
Fee Disclosure Proposal Draws Industry Criticism at House Committee Hearing >
October 08, 2007 -- Retirement industry groups told the U.S. House Education and Labor Committee last week that a legislative proposal calling for greater disclosure of 401(k) fees would be too overwhelming for everyone involved, including participants.
State Street Could Face Another Investment Strategies Suit >
October 08, 2007 -- Attorneys General in Alaska and Idaho are looking into possible legal action against State Street Corp. over losses their state retirement funds suffered investing in two enhanced index bond funds, the Wall Street Journal reported.
IMHO: The Devil in the Details >
October 06, 2007 -- The testimony presented at last week’s hearing by the House Education and Labor Committee on the issue of 401(k) fees was remarkably consistent, IMHO, certainly compared with the last time the Committee took up the issue.
Fiduciary Breach Suit Against Nationwide Survives a New Challenge >
October 05, 2007 -- A federal judge in Connecticut has cleared the way for the trustees of five 401(k) plans to pursue their claims that Nationwide Financial Services was a fiduciary because it could change the plans’ investment lineups.
Prudential Accuses SSgA of ‘Misrepresented’ Investment Strategies >
October 02, 2007 -- The Prudential Retirement Insurance and Annuity Co. (PRIAC) on Monday filed suit against State Street Global Advisors (SSgA) over losses in SSgA-managed funds for which PRIAC claims the investment strategies were misrepresented.
House Panel Sets Hearing on Miller Fee Disclosure Bill >
October 02, 2007 -- The U.S. House Education and Labor Committee will hold a hearing Thursday to discuss a proposal requiring greater 401(k) fee disclosure by plan sponsors and providers.
IMHO: “We’re from the Government, and We’re Here To Help″ >
September 30, 2007 -- Despite the variety of advisers, practices, business models, and broker-dealer affiliations at our recent PLANADVISER National Conference, there was a remarkable degree of convergence of purpose in evidence.
Investor Advocacy Group Blasts FINRA Complaint Resolution Process >
September 27, 2007 -- A group representing individual investors has released a study asserting that a Wall Street watchdog has too easily allowed brokers to expunge client complaints from their records – sometimes without holding a hearing.