States With the Most Corrective Distributions
A new study of 401(k) plans shows that more than 50,000 of them failed nondiscrimination testing for the 2012 plan year.
Tag: Department of Labor (DOL)
Council Examining Practices for Outsourcing Plan Services
The Department of Labor’s (DOL) ERISA Advisory Council is examining practices for outsourcing employee benefit plan services.
Groups Weigh In on Proposed Fee Disclosure Regs
From excluding large plans to asking for wording that would prompt consultation with the plan adviser, organizations are petitioning the Department of Labor (DOL) about the proposed 408(b)(2)...
PSNC 2014: Washington Update
The Department of Labor (DOL) has increased full-scope audits of retirement plans, said Lisa Barton, a partner with Morgan, Lewis & Bockius.
DOL Again Seeks Comments on TDFs
Target-date funds (TDFs) are again put in the Department of Labor (DOL) spotlight for comments. Widely held in retirement accounts, TDFs may not be fully understood by investors.
Case Shows Importance of Using Caveats
Caveats included in pension benefit statements provided by Ford Motor Company saved the company from liability in a recent court case.
Advisers Can Wave Red Flags, Too
It’s well known that federal auditors look for red flags to target review efforts, but one service provider says retirement plan advisers should use them for better business...
Hispanic Chamber Finds Negative Impact of Fiduciary Redefinition
The expansion of the fiduciary definition proposed by the Department of Labor (DOL) could potentially impede the ability of small businesses to offer employees retirement plans, says a...
Retirement Advisor Council Sees Flaw in 408(b)(2) Review
In an open letter to the Department of Labor (DOL), the RAC contends the regulator’s proposed methodology for assessing the impact of 408(b)(2) fee regulations is flawed.
Do You Recommend a Fee Policy Statement?
Fee policy statements are in the early stages, but they can help plan sponsors manage fees and help an adviser show he’s ahead of the curve.
Delta Air Lines Wins Stock Drop Suit Appeal
The 11th U.S. Circuit Court of Appeals used its own case history to dismiss a lawsuit brought by participants in a Delta Air Lines employee stock ownership plan...
There Is an Exception to Attorney-Client Privilege
The common law of attorney-client privilege is intended to enable clients to speak with their attorneys in trusted confidence about work-related issues.
DOL Targets Imprudent Margin Investing
The Department of Labor’s Employee Benefits Security Administration (EBSA) filed a complaint in federal court against a Tennessee profit-sharing plan over allegedly imprudent margin investing that triggered plan...
Survey Finds Little Consistency on Fee Disclosures
A recent survey report from the North American Securities Administrators Association (NASAA) finds a wide disparity in how broker/dealers and other financial services providers disclose fee charges.
A Vision for National Retirement Reform
The push for establishing mandatory access to workplace retirement savings provides important insights into the path advocacy groups must take to influence national retirement policy.
Increasing Benefits Limits Does Not Encourage New Plans
Data does not suggest a strong connection between increases in contribution limits and the creation of new retirement plans, according to a U.S. Government Accountability Office (GAO) study.
State Street Cleared of Wrongdoing in GM Stock Drop Suit
For the second time, a U.S. district court has found State Street Bank and Trust did not violate its duties to General Motors (GM) retirement plan participants in...
DOL Fee Guide Proposal Misses the Point, Some Say
Value, not just cost, is what plan sponsors and participants should see when reviewing fee disclosures, some contend.
Plan Financial Audits May Uncover 'Red Flags'
When performing annual retirement plan financial audits, plan sponsors and their auditors should look for potential “red flags” for regulators.