PANC 2018: DOL Audits of Retirement Plan Advisers
The DOL wants to ensure that retirement plan advisers are delivering on all services listed in their contracts with retirement plan sponsors.
Tag: Department of Labor (DOL)
PANC 2018 – Top Trends
A look at actively managed versus passively managed equity and bond funds, blended target-date funds, and with more sponsors encouraging retirees to remain in their plan, how defined...
PANC 2018: Plan Committee Excellence
To this day, one of the most common reasons plan sponsors turn to advisers is to get assistance with governance, including items such as putting in processes that...
PANC 2018: The Future of Retirement Advising
A look at consolidation, the role of recordkeepers and the importance of financial wellness programs.
The Importance of Addressing Participant Complaints
If a sponsor does not respond, they could face a civil and/or DOL lawsuit
Federal Court Orders Prison Term after Benefit Plan Theft
A Maryland business owner will serve one year and one day of imprisonment and pay more than $350,000 in restitution for violations of the Employee Retirement Income Security...
Registered Advisers Often Confused by Custody Reporting
Form ADV includes a number of questions about the custody of client assets; these questions continue to be a source of widespread confusion and inconsistent interpretations in the...
Industry Weighs President Trump’s Executive Order on MEPs, RMDs
The president on Friday signed an executive order directing the Treasury Department to reassess required minimum distributions from 401(k) plans and ordering DOL staff to explore the possibility...
Missing Participants Could Disqualify a Retirement Plan
Mercer offers recommendations for retirement plan sponsors to search for missing participants.
Merrill Lynch Rethinks Prohibition on Commissioned Retirement Account Products
In response to staff and client feedback, and in the wake of the defeat of the DOL fiduciary rule, the firm is taking steps to reintroduce use of...
Wells Fargo Drops Plans to Use T Shares in Retirement Accounts
Asked whether Wells Fargo Advisors will reconsider T shares if the DOL’s fiduciary rule is revisited or the SEC pushes through a conflict of interest rule, the firm...
DOL’s Ongoing Project Looks Into Retirement Plan Investments and Fees
The Department of Labor’s (DOL)’s Employee Benefit Security Administration’s (EBSA)’s Plan Investment Conflicts (PIC) project investigates issues related to fiduciary service provider compensation and conflicts of interest in...
Participants in Abandoned Plan Get Help From DOL
A court appointed an independent fiduciary to distribute assets to the remaining plan participants.
GAO Says Changes in DOL Guidance on ESG Prevent Retirement Plans from Embracing It
In addition, data on ESG investing is also inconsistent, assessing ESG could increase plan costs, and many investors incorrectly perceive that ESG investing can lower returns.
Court Orders Business Owner to Prison for Embezzling 401(k) Funds
The court-ordered restitution includes $69,000 in employee and matching employer contributions, as well as lost earnings due to the 401(k) plan, and approximately $4.3 million for fraudulent loans...
Deep Dive into DOL EBSA Enforcement Activities
When it comes to policing of retirement plans by the EBSA, the pace of settlements and corrections remains strong; experts pin this to the relative regional autonomy of...
Intro
Best Interest in Mind
Plan sponsors are likely to ensure that advisers are keeping participants' best interests in mind when recommending rollovers, even though the fiduciary rule has been vacated.