Can a Postcard Furnish an SPD Solution?
Plan sponsors hoping for a simpler, easier way to satisfy the obligation to furnish summary plan descriptions (SPDs) to participants - are still hoping.
Tag: DoL
EBSA Cracking Down on Contribution Fraud
The U.S. Department of Labor's Employee Benefits Security Administration (EBSA) announced a series of enforcement actions to protect more than $7 million for workers in retirement plans or...
DoL Blasts 9th Circuit for Prudence Presumption Endorsement
Lawyers representing Labor Secretary Hilda L. Solis have asked the 9th Circuit to overturn a three-judge panel's decision embracing the “presumption of prudence” standard often seen in employer...
Supermarket Chain Agrees to Restore $8M to 401(k) Plan
C&K Market Inc. agreed to restore $3 million in cash plus interest and to sell property in order to make restitution for a series of imprudent loans made...
IMHO: “After” Thoughts
The morning after last week’s mid-term elections, a plan sponsor friend of mine called me up and asked me what I thought it all meant.
SPARK Calls for SEC to Rexamine Proposed Rule
The SPARK Institute sent comments to the U.S. Securities and Exchange Commission (SEC) regarding the potential impact on retirement plan intermediaries due to the proposed rule regarding mutual...
DoL Sues Defunct Landscaper Over Diverted Plan Assets
The U.S. Department of Labor (DoL) sued the owner of a defunct landscaping company for allegedly paying operating expenses using employee contributions to the company’s savings incentive match...
Former EBSA Secretary Questions Fiduciary Proposal
The former Assistant Secretary of the Department of Labor’s (DoL) Employee Benefit Security Administration (EBSA) said the fiduciary definition proposal by the DoL is addressing issues already addressed...
Fiduciary Proposal Shows EBSA Getting with the Times
In a conference call with the media, Phyllis C. Borzi, Assistant Secretary of Labor at the Department of Labor, described the current fiduciary guidelines as being “arcane.”
DoL Broadens Fiduciary Net
For the first time in a generation, the Labor Department has taken another crack at the definition of a fiduciary under the Employee Retirement Income...
ASPPA Demands 403(b) Form 5500 Extension
With a Friday filing deadline looming, a retirement services trade group has asked for more time for 403(b) sponsors to file the Form 5500.
Principal Publishes White Paper on Fee Disclosure Guidelines
The paper by ERISA attorney Jamey Delaplane is part of several additions to Principal’s Web site dedicated to fee disclosure education.
DoL Urges Unisys Fee Case Reversal
A federal judge in Pennsylvania made a mistake when he threw out a 401(k) excessive fee case against Unisys Corporation and Fidelity Management Trust Company, the Department of...
Auditors Suggest EBSA Could Do More about Conflicts of Interest
An audit report claims the Department of Labor’s Employee Benefits Security Administration (EBSA) could do more to protect retirement plan assets from conflicts of interest.
ASPPA Calls for 5500 Deadline Extension
Even though the U.S. Department of Labor (DoL) has already turned down a similar request, The American Society of Pension Professionals & Actuaries (ASPPA) has also asked for...
DoL Sues CA Firm over Diverted 401(k) Funds
The U.S. Department of Labor (DoL) has charged that a Laguna Hills, California, firm diverted more than $920,000 in employee and employer contributions owed to the company’s 401(k)...
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Decisions, Decisions
How did you decide whether to affiliate with a wirehouse, or independent or regional broker/dealer?
Survey Finds Changes among Plans Sponsored by Health Care Organizations
Regulatory changes and the recent economic downturn have led to changes in retirement plans sponsored by health care employers.
Lifetime Income Hearing Witnesses Demand Fiduciary Shield
A strong theme in testimony from witnesses at this week’s hearing into providing lifetime income options in retirement plans was a warning of how much sponsors fear incurring...