Tag: 404c

IMHO: “Smoke” Signals

Plan sponsors spend a lot of time wondering—and worrying—about the “right” way to do things.   

DoL: No 404(c) Safe Harbor in Fiduciary Breach Case

Secretary of Labor Hilda L. Solis has warned a federal appellate court that protections for plan participants could be harmed if it does not overturn a lower court ruling giving a directed trustee safe harbor protection against wrongdoing allegations.

Summary Prospectus Users Still 404(c) Eligible

Plan sponsors got a bit of a roadmap from the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) about how to rely on a summary prospectus to meet the prospectus delivery component of safe-harbor provisions.

IMHO: Duty Calls?

When it comes to qualified retirement plans, there are three kinds of people: people who are fiduciaries and know it, people who aren’t fiduciaries and know it, and people who are fiduciaries and don’t know it.

IMHO: The “Burden″ of Proof

Recently the 7th Circuit responded to requests that it reconsider its opinion in the revenue-sharing/″excessive fee″ case of Hecker v. Deere.

7th Circuit Panel Limits Ruling’s 404(c) Effects

Faced with pressure to take another look at its February 2009 decision in a widely watched 401(k) excessive fee case, a federal appellate court has turned down the rehearing request but issued an addendum sharply limiting the earlier ruling’s scope on the issue of 404(c) protections.

Judge Says Motorola Didn’t Breach Fiduciary Duties

The U.S. District Court for the Northern District of Illinois ruled that Motorola Inc. and fiduciaries of its 401(k) plan did not breach their fiduciary duties under the Employee Retirement Income Security Act (ERISA) by continuing to offer company stock as an investment option in the plan.