Plan sponsors have a fiduciary duty to operate in accordance with the plan document, but an ERISA attorney shares common cases when mistakes are made.
Metropolitan Life Insurance Company and Brighthouse Life Insurance Company have agreed to work with the DOL to determine whether more than 2,000 retirement plans in their custody are abandoned.
Participants in non-ERISA 403(b) plans could be considered "retail customers" under a section of the SEC's proposal, a law alert warns.
Senator Sherrod Brown calls it imperative "to find a bipartisan solution to the crisis threatening 1.3 million Americans."
How Hearst Corp. followed a prudent process to choose its qualified default investment alternative.
When thinking about fiduciary support services and outsourcing, really the important considerations should be about process and time management, more than fiduciary risk transfer.
The brokerage firm will pay more than $15 million in settlement.
“Because the Department of Labor views plan loans as investments, they should be treated with the same level of care and scrutiny as any other investment,” says Rob Reiskytl, a partner in retirement consulting division of Aon in Minneapolis.
The appellate court found Bank of America did not profit from transferring participants' 401(k) accounts to a cash balance plans and noted that previously the bank entered into a closing agreement with the IRS, paying a $10 million fine and setting up a special-purpose 401(k) plan to restore participants’ accounts.
In a detailed ruling, the Deutsche Bank defendants’ motion for summary judgment is granted with respect to certain prohibited transaction claims, but denied with respect to other breach of fiduciary duty claims.
The Commission is also seeking public feedback on fund disclosure and the fees that intermediaries charge funds for delivering fund reports.
The new claim in the 403(b) plan lawsuit says the defendants should have protected participant data as plan assets and not allowed TIAA to use it to market its products and services to participants.
The Social Security OASI Trust Fund is projected to become depleted in late 2034, as compared to last year’s estimate of early 2035.
In a complicated complaint filed in federal district court, participants in Invesco’s retirement plan say they have been subject to disloyal and imprudent decisions made by conflicted plan officials.
A federal judge is allowing the plaintiff one last chance to make more context-specific arguments in her case.
Over the next decade, the financial condition of PBGC’s Multiemployer Insurance Program is expected to steadily worsen, leaving very little chance that the program will remain solvent beyond the next decade.
The Howard Jarvis Taxpayers Association wants a federal district court to halt the program, based on ERISA preemption and the possibility that home-owning Californians could be called on to pay additional taxes to support Secure Choice, which aims at opening up retirement investing opportunities.
Two new IRS publications lay out important rules and clarifications for when and how to prorate compensation and benefit limits for short plan years.
While non-electing church plans are not subject to most ERISA requirements, they are subject to pre-ERISA regulations.
A press release about the bill mentions a Government Accountability Office report in which the GAO said: “Congress should consider establishing an independent commission to comprehensively examine the U.S. retirement system and make recommendations to clarify key policy goals for the system and improve how the nation promotes retirement security.”