Tag: DoL

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.

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.

The Department of Labor has published employee benefit plan compliance guidance and relief for victims of Hurricanes Florence and Michael, recognizing that plan fiduciaries and employers may encounter unavoidable issues with ERISA compliance.

Those industry stakeholders disappointed by the limited scope of the proposed regulations can take heart in the fact that DOL staff calls for detailed commentary on ways the proposal could be expanded, including into the area of “open MEPs” and “corporate MEPs.”

Under DOL scrutiny, the Illinois-based employer has agreed to restore nearly $420,000 to its defined benefit pension plan.

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.

The text of the regulation is still forthcoming, but the Office of Management and Budget has completed its review; so far, we know the regulation is viewed as “major” and “economically significant.”

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.

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 help avoid litigation and running an efficient committee meeting.

A look at consolidation, the role of recordkeepers and the importance of financial wellness programs.

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 Act.