A similar lawsuit was filed in May against an investment manager and a different plan sponsor.
Following the filing of various class member objections, a federal district court has denied a settlement agreed to by the parties in an ERISA fiduciary breach lawsuit against Northrop Grumman.
The settlement agreement also calls for the monitoring of plan recordkeeping fees and the plan’s investment options.
INSIDE THE MAGAZINE PLANADVISER May/June 2020
Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.
Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal Revenue Service.
Only 5% of respondents to a new survey have withdrawn from their retirement accounts, but another 7% said they plan to do so in the coming weeks.
After falling precipitously in the first quarter, the S&P 500 Index added 20% during the second, making for the best quarter since 1998 and the best second quarter since 1938. What comes next is anyone’s guess.
It is not all doom and gloom for plan sponsors and participants who want these investments. Here’s what advisers should know about the new rules proposed by the Department of Labor (DOL).
The Department of Labor has taken yet another step forward in what has been more than a decadelong effort to update the fiduciary duty applying to investment professionals serving workplace retirement plans.
Multiple national-level conflict of interest rules are now aligned that will require financial professionals to act in the best interest of consumers.
Personal Capital will be positioned to serve plan participants who seek a combination of digital and human advice while helping to accelerate the capture of rollovers and other out-of-plan assets, the firms say.
The 2nd U.S. Circuit Court of Appeals found the regulation, which goes into effect tomorrow, is authorized by Dodd-Frank and is not arbitrary and capricious.