For the casual observer, the shifting tangle of laws and regulations governing the behaviors of retirement plan fiduciaries can seem almost comically complex. For industry practitioners, wrestling with regulatory compliance is a daily battle, and one with potentially dire personal and professional consequences. Below you will find a roundup of significant regulatory events from 2019. We hope you’ll share some of what you read with a client or colleague.
The DOL is aiming to “modernize fiduciary practices related to the voting rights associated with ERISA plan investments and harmonize those regulations with the requirements of other regulators.”
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While not divided across political lines, the parties in Sulyma v. Intel Corporation Investment Policy Committee view the question of what establishes “actual knowledge” of an alleged fiduciary breach under ERISA very differently.
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HELPER Act would allow Americans to annually take up to $5,250 from a 401(k), 403(b), 457 plan or IRA—tax and penalty free—to pay for college or pay back student loans.
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Supporters of the Massachusetts proposal say the state-based regulations will be far more effective in tamping down on brokerage industry conflicts of interest compared with the national Regulation Best Interest.
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As the appellate decision explains, ownership percentages are less important than organizations’ operating structures when determining withdrawal liability from a multiemployer union pension.
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While the GDPR does not directly address U.S. benefit plans, it should be of particular interest to defined contribution plan sponsors and their service providers because they hold personal information for each plan participant.
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One legal professional at a fiduciary insurance firm argues that the ‘indiscriminate nature’ of recent ERISA lawsuit filings could eventually culminate in a crisis for the retirement plan industry’s current approach to risk management and fiduciary insurance.
The SEC says the charges and settlement show even the most sophisticated institutional investors, like pension funds, can become victims of wrongdoing.
Wednesday was a busy day for the U.S. Securities and Exchange Commission, which voted to propose two separate regulations that will impact investment managers and registered investment advisers—and which sources say are likely to generate substantial public comment and debate.
Two of the reasons most commonly cited by small business owners for not offering a retirement plan are the beliefs that their business is too small to qualify and that they can’t afford a match.
OneDigital names vice president of product; Advisor Group acquires Infinex; T. Rowe Price appoints senior ESG leader; Voya hires chief information security officer; and more.
