The complaint stems from defendants’ alleged refusal to pay post-termination benefits to the plaintiff—and a sizable similarly situated class of would-be beneficiaries—pursuant to terms and definitions in plan documents.
Presented here are the results of several dozen live polling questions fielded at the 2017 PLANADVISER National Conference, gathered during three days of highly detailed discussion of industry trends, challenges and best practices.
While a handful of firms are moving away from commission-based
retirement accounts in light of the DOL’s fiduciary rule, Cambridge Investment
Group says it will keep supporting these accounts as it develops its own
fiduciary strategy for its advisers.
“This policy is in keeping with NTSA’s long-standing support for effective and clear disclosure of fees, compensation and alternatives within 403(b) plans,” says NTSA Executive Director Chris DeGrassi.
Acknowledging that “smart regulation is only as effective as its
implementation,” the DOL has issued extensive guidance for
advisers and providers seeking to comply with the new conflict of interest
standards and prohibitions.
There are many anticipated avenues of disruption associated with
the DOL fiduciary rule, but clearly the most direct influence will be felt at
the point of sale of financial products used in ERISA plans.