Search results for: acts 19
Insights Into How to Better Communicate Lifetime Income
A professor at the UCLA Anderson School of Management discussed biases that must be considered when helping people make retirement income decisions.
Nearly Half of Adults Are Not Saving for Retirement
Respondents to research by the CFP Board and Morning Consult described saving for retirement with the words "overwhelming," "complicated," "impossible" and "confusing."
AXA Fined for Misrepresentations About Bond Funds
FINRA claims AXA Advisors sent disclosures to 401(k) plan sponsors and participants that misrepresented the credit quality of bond funds with group annuity accounts.
Advisory Firm Wins Partial Summary Judgement in Mixed ERISA Ruling
The advisory firm of Slocum & Associates will not face class-action claims and has prevailed on some summary judgement arguments, but the ruling allows certain individual claims to...
IRS Expands Opportunities for Retirement Plan Sponsors to Self-Correct
The IRS Self Correction Program (SCP) has been expanded to include certain plan document failures and certain loan failures and a way to self-correct via plan amendments.
Female Advisers Lead the Push for Greater Diversity
They believe that the role of advisers has become more holistic, making the profession more appealing and accessible.
Compliance News
Legislative and Judicial Actions
Fiduciaries Get Final Win in Disney SuitA federal appellate court has affirmed a lower court decision in a lawsuit against Fidelity Management Trust Co. as a fiduciary to...
Principal Announces Acquisition of Wells Fargo Retirement Plans Business
Through this acquisition, Principal will double the size of its U.S. retirement business by the number of total recordkeeping assets, while bringing on institutional trust and custody offerings...
Fidelity Defendants Face Another ‘Kickback’ Lawsuit
The recordkeeping and investment firm has emphatically denied allegations leveled in multiple lawsuits suggesting it collects “secret payments” and “kickbacks” from external fund providers.
Supreme Court Asked to Review Chevron Case for ERISA Pleading Standards
Specifically, the petition filed by participants in Chevron's DC plan asks the Supreme Court to answer: “In pleading a breach of fiduciary duty under ERISA, is it sufficient...
New Resource Details Social Media Opportunities, Potential Pitfalls
While some six in 10 advisers describe themselves as social media experts, only about 15% actually demonstrate social media mastery.
Tailoring Plan Designs to Reflect Shorter Employee Tenure
Recent research reports suggest average employee tenure in the U.S. has trended downward; retirement industry experts agree this fact should inform plan design discussions and participant-level services.
George Washington University Faces ERISA Hearing
The parties dispute whether the plaintiff has standing to bring any ERISA claims based on a settlement agreement she entered, and, if she does, which claims could be...
RESA Is Back in the Senate, with Some Technical Amendments
A section-by-section overview of the Retirement Enhancement and Savings Act of 2019, which was just introduced in the U.S. Senate.
Affirmation of Teets vs. Great-West Shows ERISA Liability Limits
ERISA sets exacting standards when it comes to the treatment of retirement plan investments, but a new appellate court ruling underscores the fact that not all parties dealing...
SEC No-Action Letter Offers Guidance for Processing Rollover Checks
Banc West Investment Services asked the Securities and Exchange Commission to clarify its stance on the potential conflict between FINRA suitability determinations called for by rollover decisions and,...
Another Undisclosed Fee Lawsuit Filed Against Fidelity
According to the recent complaint, Fidelity has breached its fiduciary duties to retirement plans by charging mutual fund and other investment companies a substantial fee as a condition...