Peering Through the Regulatory Kaleidoscope
Spend any significant amount of time in the retirement planning industry and, whatever the role, one will inevitably hear about the negative impact of “regulatory uncertainty.” Has it...
Tag: Department of Labor (DOL)
In Focus at DOL: Missing and Terminated Participants
Over the last few years, all three federal agencies that regulate retirement plans have been focusing on missing participants; advisers have a key role to play when it...
DOL Investigation Results in $5 Million ESOP Settlement
The settlement agreement resolves a civil suit brought by the DOL, alleging Cactus Feeders Inc. ESOP fiduciaries failed to fulfill their obligations under ERISA during a December 2010...
DOL Taking Its Fiduciary Responsibilities Seminar to Miami
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
PSCA Calls for Clearer Guidance from IRS and DOL on Missing Participants
The plan sponsor advocacy organization says there have been “numerous reports of aggressive DOL enforcement activity, and sometimes inconsistent positions taken by DOL auditors, regarding how plan sponsors...
In Memoriam: How the Fiduciary Rule Changed the Retirement Industry
With the news emerging that the 5th U.S. Circuit Court of Appeals has certified its ruling to vacate the DOL fiduciary rule, Scott Gehman, a retirement plan consultant...
Mandate Issued by 5th Circuit to Officially Vacate DOL Fiduciary Rule
While the deadline had already technically passed for the DOL to appeal the circuit court ruling vacating its fiduciary rule reforms, this highly anticipated move by the court...
PSNC 2018: Participant Advice in an Era of Fiduciary Uncertainty
Participant advice has highly progressed in the latest years, with the introduction of mobile technology and advanced systems, but how will it change under the new fiduciary rule...
Custodians Need Help Cleaning Out Abandoned Plans
Metropolitan Life Insurance Company and Brighthouse Life Insurance Company have agreed to work with the DOL to determine whether more than 2,000 retirement plans in their custody are...
Reflections on a Dramatic Year for Retirement Plan Regulation
From the unexpected derailment of the DOL fiduciary rule to the expanding debate about so-called ‘open MEPs,’ your plan sponsor clients face a tremendous amount of uncertainty in...
EBSA Wins Judgement Against Cambridge Technology Group
According to EBSA Regional Director Michael Schloss, Cambridge Technology Group and its CEO made it nearly impossible for retirement plan participants to access their funds; both have been...
Industry Left Confused by DOL’s ESG ‘Clarification’
A review of industry commentary dissecting the DOL’s recently published Field Assistance Bulletin on the topic of ESG investments suggests the “sub-regulatory guidance” has left a lot of...
DOL Announces Fiduciary Responsibilities Seminar in Chicago
Its “Getting It Right – Know Your Fiduciary Responsibilities” seminar will be held in Chicago, on July 10.
Court Orders Past Trustee to Reimburse Plan Beneficiaries
The former owner is also barred from serving as a fiduciary, trustee, agent, or representative to an employee benefit plan.
DOL Wins Restitution of Misused 401(k) Assets
A federal district court has ordered eye-care company Eye Centers of Tennessee LLC, its owner Dr. Larry E. Patterson, and its office administrator Raymond K. Mays to pay...
ERISA Attorneys Help Digest DOL’s ‘Confusing’ Fiduciary Rule FAB 2018-02
Expert attorneys warn the new non-enforcement policy binds only the DOL and IRS; state regulators and private plaintiffs could potentially seek to bring an action for alleged non-compliance...