Compliance

Putnam Investments has a few recommendations for the Department of Labor (DOL) about lifetime income illustrations on benefit statements.

Retirement plan sponsors can reset their annual due date for providing participant fee disclosures under relief provided by the U.S. Department of Labor.

A curious letter from a Yale professor that tells plan sponsors their fees are too high could be reason to benchmark and do plan studies.

The American Benefits Council has requested guidance about how the ruling on the Defense of Marriage Act (DOMA) will affect health and retirement plans.

A federal bankruptcy court ruled a plan fiduciary still owes contributions to multiemployer plans though he filed for bankruptcy.

The Senate Committee on Health, Education, Labor and Pensions (HELP) heard some findings about small businesses and retirement security.

The Securities and Exchange Commission (SEC) released the schedule for its upcoming Compliance Outreach Program regional seminars.

The Internal Revenue Service (IRS) is hosting a phone forum about good internal controls.

The Department of Labor (DOL) has weighed in on whether certain revenue sharing payments constitute plan assets under the Employee Retirement Income Security Act (ERISA).

Morningstar Credit Ratings, LLC, is now qualified as a “Rating Agency” as defined by the U.S. Department of Labor (DOL).

The Internal Revenue Service (IRS) will host phone forums discussing 401(k) plan corrections and audits.

ASPPA says a uniform fiduciary standard would cause confusion, but a coalition of other financial groups said retail customers would benefit from such a standard.  

The American Society of Pension Professionals & Actuaries (ASPPA) sent a comment letter to the Internal Revenue Service (IRS) regarding the use of forfeitures to fund ADP test...

Both 3(21) and 3(28) fiduciary capabilities from Wilshire are offered on American Funds’ recordkeeping platform.

The Securities and Exchange Commission (SEC) filed a civil injunctive action against Armand R. Franquelin of Ogden, Utah, and Martin A. Pool of Atlanta. 

The 6th U.S. Circuit Court of Appeals found a benefits committee used a reasonable process to conclude it paid a participant's benefits according to his election.

Some retirement plan compliance issues are unique to 403(b)s.

The Governmental Accounting Standards Board (GASB) has published an Implementation Guide for new financial reporting standards for state and local government pension plans.

The U.S. Department of Labor (DOL) is allowing stakeholders more time to comment on lifetime income illustrations given to participants in...

It’s a situation dreaded by every service provider to a retirement plan: an investigation by the Department of Labor (DOL).