Tag: Department of Labor (DOL)

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) is hosting a workshop on how to correct certain fiduciary violations under the Employee Retirement Income Security Act (ERISA).

In an amicus brief, the U.S. Department of Labor asked the 9th U.S. Circuit Court of Appeals to reverse a federal district court’s dismissal of a 401(k) stock-drop...

The 2010 ERISA Advisory Council found significant problems with retirement plan audit quality, auditor quality, or both.

The ERISA Industry Committee (ERIC) submitted comments to the Department of Labor (DoL) in response to a Request for Information (RFI) on ways the Department could reduce the...

The U.S. Department of Labor is soliciting public comments that address the possibility of expanding or modifying current rules about electronic distribution of employee benefit plan information.

Federal regulators have released a final amendment to Prohibited Transaction Exemption 96-23 that broadens transactions allowed for employee benefit plans whose assets are managed by in-house asset managers...

Federal regulators announced that the deadline for public comment about whether the term “fiduciary” should be expanded has been set for April 12, 2011.

Delroy Joseph Sand, Jr., pled guilty to embezzling approximately $642,166.81 from his company’s employee benefit plan between 2008 and 2009. 

Stating that previous media reports on its position were unclear, the American Society of Pension Professionals & Actuaries (ASPPA) insists it and its affiliated organizations “strongly support” redefining...

The Government Accountability Office (GAO) suggested that retirement plan sponsors and participants should be made more aware of the risk that some investments may have distribution restrictions.

The U.S. Department of Labor (DoL) sued a now-defunct company alleging it walked away from its 401(k) plan without distributing $1.3 million in assets to participants.

At the ASPPA 401(k) Summit in Las Vegas this week, Brian Graff, CEO of ASPPA, and Greg Dean, General Counsel for the Senate Committee on Health, Education, Labor...

The U.S. Department of Labor (DoL) sued Coin Builders LLC of Wisconsin Rapids and its president, Joseph Kreeger, to restore more than $1.3 million plus interest to the...

The Dodd-Frank Act, target-date funds, and the evolving role of a fiduciary were some of the topics Frederick Reish and Robert Kaplan touched on at the ASPPA 401(k)...

Those wishing to comment on a pending regulatory proposal to revamp the definition of a fiduciary under the Employee Retirement Income Security Act (ERISA) now have more time...

The American Society of Pension Professionals and Actuaries (ASPPA) presented a statement this week at a Department of Labor-sponsored hearing regarding proposed changes to the definition of “fiduciary.”

Paul Stevens, president of the Investment Company Institute (ICI), presented his organization’s statement to the Department of Labor (DoL).  

The Securities Industry and Financial Markets Association (SIFMA) had its turn Tuesday at the Department of Labor’s (DoL) hearing to address the proposed changes to the definition of...

J.P. Morgan believes that the proposed regulations to redefine the definition of fiduciary should eliminate unnecessary and subjective standards.

Larry H. Goldbrum, General Counsel of The SPARK Institute, said any changes to the definition of fiduciary should not be overly dramatic changes in policy.