Biogen Faced With Lawsuit About Use of Active TDF Suite
The lawsuit is one of many filed recently claiming that the use of an index suite of Fidelity TDFs is more prudent.
Compliance
ERISA Excessive Fee Suit Filed Against NVIDIA Corp.
Allegations in the lawsuit mirror those of the many excessive fee suits filed against retirement plan sponsors.
IRS Requesting Comments on Form 5500
There are two proposed changes and the IRS also wants comments about the obligation of filing.
DOL Issues Proposed Rule on Benefit Plan Proxy Voting
Provisions of the proposal articulate general duties requiring fiduciaries to vote any proxy where the fiduciary prudently determines that the matter being voted upon would have an economic...
Guidance on Payroll Tax Deferral Tells When It Must Be Repaid
Notice 2020-65 from the IRS also defines the ‘applicable wages’ per pay period that qualify for the deferral.
Few Divorcing Couples Know About QDROs
Older couples and women, in particular, are often put at a retirement disadvantage when faced with a divorce, a GAO report finds.
UPS Defeats ‘Actuarial Equivalence’ ERISA Challenge
The defense has prevailed on technical grounds in a lawsuit that argues plan sponsors should be required to use fresh mortality and interest rate assumptions when converting between...
Examining Joe Biden’s Retirement Savings Tax Credit Proposal
Experts steeped in the retirement planning industry wonder if the Democratic candidate’s proposed incentives are enough to prompt lower-income workers...
Medical Device Manufacturer Hit With ERISA Excessive Fee Suit
The case against B. Braun Medical contains allegations similar to those in many complaints filed this year.
Wilmington Trust Faces Further ERISA Litigation Tied to ESOP Clients
The firm has previously settled similar challenges related to market price evaluation services provided to employee stock ownership plans.
Fund Argues Court Decision Shields PE Firms From Multiemployer Plan Withdrawal Liability
The New England Teamsters and Trucking Industry Pension Fund, in its long-running legal attempt to collect withdrawal liability, has filed a petition with the U.S. Supreme Court.
Court Agrees Colgate-Palmolive Miscalculated Cash Balance Benefit Payments
A court ordered Colgate-Palmolive to recalculate benefits paid to certain retirees from its cash balance plan but stayed the relief to allow time for an appeal.
Contemplating a Reversal of Regulation Best Interest
The past two presidential administrations have taken starkly different views on the topic of conflicts of interest in the financial...
Stakeholders Want More Substantive PEP Guidance from DOL
Though they applaud the direction the Department of Labor is taking, expert ERISA attorneys say a new proposed rule does not sufficiently explain how pooled employer plans can...
DOL Efforts Seem to Heighten Duties Before ESG Can Fly in Retirement Plans
Prior to the issuance of its proposed rule on ESG investing in retirement plans, the DOL sent letters to plan...
BTG International Agrees to Pay $560,000 to Settle ERISA Suit
The suit alleged excessive fees were paid to the recordkeeper of the company's 401(k) plan through undisclosed revenue sharing.
DOL Announces Hearing to Discuss PTE Proposal for Fiduciary Rule
The DOL is proposing a new prohibited transaction class exemption for investment advice fiduciaries.
iHeart 401(k) Plan Fiduciaries Targeted in Excessive Fee Suit
The allegations basically mirror those included in the long list of excessive fee suits filed.
Another Lawsuit Scrutinizes Use of Active TDF Suite in 401(k) Plan
Prime Healthcare Services is one of the latest targets of an ERISA 401(k) excessive fee suit.
DOL NPRM Addresses PEP Plan Provider Registrations
The SECURE Act allows pooled plan providers to start operating pooled employer plans beginning on January 1, 2021, but providers must register before operations can begin.