Stable Value Fund Suit Sent Back for Amended Complaint
A federal judge has asked for an amended complaint showing that a stable value fund provider set interest crediting rates below actual rates of return in order to...
Compliance
Annuities Industry Fiduciary Challenge Dwelt Blow In Federal Court
A U.S. District Court has handed down a DOL-friendly ruling in one piece of anti-fiduciary rule litigation that is seeking more leniency for fixed-index annuity providers.
Proposed DB Plan Regulations Address Changes Made by the PPA
Proposed rules by the IRS would amend the current final regulations under section 417(e) of the Internal Revenue Code regarding the minimum present value requirements of section 417(e)(3)...
Wells Fargo Self-Dealing Suit Questions Committee Practices
The latest example of retirement plan fee litigation questions the offering of an “easy enrollment” function that favored investment into the company’s own TDF mutual funds.
Investment in Sequoia Fund Target of Another Retirement Plan Suit
The lawsuit claims retirement plan fiduciaries breached their ERISA duties by continuing to offer the fund, because it was not diversified.
PBGC Issues New Table for Determining Expected Retirement Ages
The table is for use by pension plans undergoing distress or involuntary termination with valuation dates falling in 2017.
ERIC Suggests PBGC Expand Missing Participant Program
In a comment letter to the PBGC, the ERISA Industry Committee also encouraged a different fee structure and incorporating electronic rollovers of claimed accounts into qualified plans.
New IRS Document Request Process to Affect Employee Plan Examinations
The agency says the updated process will reduce plan sponsors’ burden and provide consistent treatment of them, and allow the IRS to secure more complete and timely responses...
Disney Suit Over Undiversified Investment Dismissed
A federal court judge found it implausible that signs of trouble in an underlying holding of one of Disney's retirement plan mutual funds triggered a duty for fiduciaries...
Closed DB Plan Nondiscrimination Issues Focus of Bipartisan Bill
A bipartisan piece of legislation with backing in the House and Senate seeks to protect long-term participants in closed and frozen pensions.
Second Suit Targets Edward Jones Over Self-Dealing Claims
Edward Jones is being accused by another set of plaintiffs of favoring the investments of its “preferred partners” in its 401(k) plan, enriching the firm at the expense...
Retirement Policy Proposals Already in Place for Trump Administration
While it is hard to predict what is coming, there is no shortage of retirement policy proposals for the next administration to consider.
Guide Discusses Setting Up and Operating Automatic Enrollment 401k
The IRS document can be used by advisers in helping them educate plan sponsors about automatic enrollment 401(k) plans as well as to help plan sponsors set up...
Recordkeeper Not Liable for 401(k)'s Failure to Provide Financial Audit
In addition to imposing penalties for failure to provide requested plan documents to a 401(k) participant, a federal district court found the plan filed a simplified Form 5500...
Financial Engines and Xerox Questioned in ERISA Suit
The latest ERISA lawsuit to be filed targets Xerox and Financial Engines for advice arrangements negotiated between the firms and several Ford Motor Company retirement plans.
New Shade of Doubt Cast on DOL Fiduciary Rule Implementation
One early commentator tells PLANADVISER he expects the new DOL fiduciary rule will still be implemented, yet there is undoubtedly a new atmosphere of uncertainty with the presidential...
FASB Considering Change to Pension Cost Reporting
The board says stakeholders have stated that the current presentation requirement has less value and requires users to incur greater costs in analyzing financial statements.
IRS Considering Changes to Interest Crediting Rules for Certain PEPs
The agency is considering amendments to hybrid plan rules to address implicit interest pension equity plans.