A Florida Sheriff’s Department has sued Nationwide Life Insurance Co., over allegations Nationwide’s retirement plan fees unfairly allowed the company to make a profit through a revenue sharing...
The US District Court for the Eastern District of Michigan has ruled that a plan administrator must pay a former employee $10,500 for failing to provide her with...
The BISYS Group announced Friday that it and staff members of the US Securities and Exchange Commission (SEC) have hammered out a $25.1 million agreement in principle over...
Under pressure, AIG VALIC has agreed to disclose its revenue-sharing agreements for a new 457 retirement plan offered to Los Angeles Unified School District (LAUSD) employees.
A federal judge has rebuffed the latest effort by FleetBoston Financial Corp. to derail a lawsuit charging that its cash balance plan discriminates against older workers.
The US District Court for the Western District of Kentucky ruled that, even though the surviving spouse of a retirement plan participant waived her rights to benefits in...
The Hartford Financial Services Group, Inc. has announced a settlement with the Securities and Exchange Commission (SEC) related to its use of directed brokerage and revenue sharing in...
The National Association of Securities Dealers (NASD) has fined Chase Investment Services Corporation of Chicago and MetLife Securities, Inc. of New York $500,000 each for failing to establish...
If you administer a plan with over 100 participants, the deadline is approaching for providing those participants with one of the required documents, a Summary Annual Report (SAR).
In 44 B.C. a soothsayer advised Julius Caesar to "Beware the Ides of March." It's an admonition that can still apply to 401(k) plan administration today when it...
"Fiduciary" is a word that is generally used in the company of ominous terms like "responsibility" or "liability." But is it a word that describes your role, and...
The National Association of Securities Dealers (NASD) handed down a $4.3 million award to a former Wachovia Securities broker who was fired in 2003 amid the firestorm of...
On September 26, US Department of Labor (DoL) officials released a proposed safe harbor rule covering retirement plan sponsors who have default investment options for employees entering plans...
ING Group has agreed to pay $33 million to settle lawsuits which allege it took fees in exchange for promoting particular funds in retirement plans and did not...
The US District Court for the Southern District of Ohio has approved an $11 million settlement for a class of former employees of Broadwing Inc., which sued the...
According to the IRS, one of the common retirement plan administration mistakes relates to plan loan failures and deemed distributions. Advisers can assist their clients in implementing administrative...
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