The “Changes to Note” section of the 2018 instructions highlights important modifications to the Form 5500 and Form 5500-SF and their schedules and instructions.
Tag: Department of Labor
The DOL has issued an advisory opinion letter in response to a request by Retirement Clearinghouse (RCH), for the Department’s opinion on the status of certain parties as “fiduciaries” as a result of actions undertaken as part of RCH’s Auto-Portability Program.
The request comes in a notice of proposed exemption from prohibited transactions for Retirement Clearinghouse's auto-portability solution.
Forty percent are waiting for further clarification, Fidelity learned in a survey.
These plans allow small businesses to join together to offer defined contribution retirement savings benefits.
The DOL said it is considering regulatory options in light of a 5th Circuit opinion vacating its previous fiduciary rule, and has on its timeline that a final rule will be issued in September of 2019.
This is in keeping with a rise in the DOL’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
A letter to the president from members of Congress asks for protection against the DOL's practice of “regulation through litigation.”
Reliance Trust will pay $4,545,454 back to the plan within 30 days.
The DOL wants to ensure that retirement plan advisers are delivering on all services listed in their contracts with retirement plan sponsors.
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 contribution plans need to address retirement income solutions.
A look at consolidation, the role of recordkeepers and the importance of financial wellness programs.
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 asset management industry.
Mercer offers recommendations for retirement plan sponsors to search for missing participants.
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 simply said, “Although we could offer them in the future, we have no current plans to do so.”
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 relation to plan asset vehicles.
A court appointed an independent fiduciary to distribute assets to the remaining plan participants.
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 and identity theft.