Secretary of Labor Hilda L. Solis has once again contended that safe harbor status does not shield fiduciaries from liability for imprudent plan investments.
While there are many legislative and regulatory proposals that could affect retirement plans, the financial reform bill and fee disclosure regulations are two actions to watch for next.
The Employee Benefits Security Administration (EBSA) has announced that the EFAST2 electronic filing system for Forms 5500 and 5500-SF employee benefit plan annual reports has a new e-signature option.
Nationwide Financial is hosting a conference call Monday to help retirement plan advisers get ahead of upcoming retirement plan regulation and legislative changes, such as fee disclosure.
Secretary of Labor Hilda L. Solis filed an amicus curiae brief with the 4th U.S. Circuit Court of Appeals supporting the remedy of awarding plan participants a “surcharge” to recover monetary damages for fiduciary breaches.
Secretary of Labor Hilda L. Solis has warned a federal appellate court that protections for plan participants could be harmed if it does not overturn a lower court ruling giving a directed trustee safe harbor protection against wrongdoing allegations.
The ERISA Industry Committee (ERIC), in coordination with the U.S. Chamber of Commerce (the Chamber) and the Profit Sharing/401k Council of America (PSCA), submitted comments to the Department of Labor (DoL) warning the agency to not undercut “generally accepted investment theories.”
Research has illustrated that women and minorities lag in retirement savings—and now the government is looking into what, if anything, should be done about it.
ING said it broadly supports investing in guaranteed lifetime income options within a retirement plan and strongly encourages employers to add this type of feature to their plans.
As responses to a request for public comment on use of lifetime income solutions in retirement plans continue to be submitted, a trade group has weighed in with the opinion that sponsors should not be forced into anything.
The 2010 ERISA Advisory Council will study whether the audit requirement and financial reporting model contained in the Employee Retirement Income Security Act (ERISA) §§ 103 and 104 provide the protections to plan participants and beneficiaries that Congress originally intended.
The House GOP Savings Recovery Solutions Group wrote to Labor Secretary Hilda Solis and Treasury Secretary Timothy Geithner to oppose proposals that would affect private-sector defined contribution retirement plans.
The ERISA Industry Committee (ERIC) urged the U.S. Department of Labor (DoL) against requiring sponsors to feature annuities as distribution options and toward providing a genuine safe harbor for the selection of an annuity provider.
In comments to the Department of Labor (DoL), TIAA-CREF announced its support for giving workers access to annuities in retirement plans.
The U.S. Department of Labor (DoL) has announced plans to change a 2007 mandate requiring that employers give participants more target-date fund information.
Half (52%) of affluent Americans believe that more could be done to assist individuals in their retirement saving efforts, according to a recent survey.
The Advisory Council on Employee Welfare and Pension Benefit Plans has called for the creation of a presidential commission to define a new national retirement policy and develop new structures for lifetime retirement security.
The Employee Benefits Security Administration (EBSA) is one of a number of Department of Labor (DoL) agencies participating in a new Web site aimed at making a variety of enforcement data publicly available.
The American Society for Pension Professionals and Actuaries (ASPPA) has requested transitional relief for 501(c)(3) organizations offering 403(b) plans that have found themselves inadvertently subject to Title I of ERISA.
Regulators might be cracking down on prohibited advice arrangements in retirement plans and broadening the scope of fiduciary status, suggested Jason C. Roberts, partner and co-chair of the Financial Services Practice Group at Reish & Reicher.