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Retirement Industry People Moves
Crossroads Financial Services joins LPL RIA platform; Alliance acquires recordkeeping and HR consultant; Resources Investment Advisors adds MPRA to list of acquisitions; and more.
Infosys to Assume Operations for Vanguard DC Recordkeeping Business
Vanguard says the partnership enables it to modernize its core recordkeeping platform and move faster on redesigning its participant experience.
15th Anniversary of RPAY: Chad Larson
2007 PLANSPONSOR Plan Adviser of the Year Chad Larsen remained independent until last September, when HUB International acquired his firm. He says the past 13 years have been...
How Advisers Serving MEPs and PEPs Can Be Conflicted
The most obvious potential conflict of interest for advisers setting up or serving pooled employer plans is if their practice is affiliated with the investments being selected—but there...
Compliance News
Legislative and Judicial Actions
HSA inflation adjustment, 403(b) catch-up contributions, tax treatment under the CARES Act, and more.
Trends
Regulation Best Interest Arrives
On June 30, the Securities and Exchange Commission’s ‘Reg BI’ goes into effect to enhance the transparency and quality of adviser/investor relationships.
Excessive Recordkeeping Fees Cited in Oshkosh ERISA Challenge
The lawsuit points to a variety of alleged fiduciary breaches related to the Oshkosh Corp.’s retirement plan’s investment and recordkeeping fees.
Transamerica Creates Online Financial Wellness Center
It covers a wide range of topics, from budgeting to preparing for retirement.
Retirement Industry People Moves
Nationwide selects retention leader; Sikich adds senior specialist to retirement plan services team; DWS announces changes to global business side; and more.
Investment Product and Service Launches
Lincoln Financial Group adds solution within director program; Franklin Templeton increases ETF lineup; Northern Trust announces new series trust; and more.
Paycheck Protection Program Considerations for Advisers
Like any clients that have taken advantage of the Paycheck Protection Program (PPP), advisory practices must be careful about the provisions the Small Business Administration has set forth...
DOL Issues Guidance About Private Equity Investments in DC Plans
An Information Letter addresses private equity investments as a component of a professionally managed asset allocation fund and outlines what plan fiduciaries should consider.
Appeals Court Revives Parts of Washington University 403(b) Lawsuit
The district court’s partly overturned ruling against the plaintiffs followed the school’s standard filing of a motion to dismiss for failure to state a claim.
Retirement Industry People Moves
Strategic Investment Group names client development managing director; PGIM Investments hires VP of Retirement Investment Solutions; SS&C Technologies Holdings acquires Innovest Systems; and more.
ManTech ERISA Challenge Shows Cases Moving Down Market
The plan in question has about $800 million in assets, meaning it is quite a bit smaller than many other employers that have faced fiduciary breach lawsuits.
BBVA Fails to Gain Summary Dismissal of ERISA Complaint
The interim ruling permits the lawsuit to proceed to discovery and emphasizes the importance of language included in summary plan descriptions.
Retirement Industry People Moves
FBi adds SVPs to growth and product lines; SageView selects chief advisory services officer; and BPAS APS promotes DB director.
IRS Permits Digital Letter Ruling Requests
The revised policy, instituted in response to the coronavirus pandemic, will remain in effect until the revenue procedure is modified or superseded.
Wilmington Trust to Pay $80 Million to Settle DOL Investigations
The DOL alleged Wilmington Trust caused losses to ESOPs when it authorized them to pay more than fair market value for privately held employer stock.