401(k) Plan Fiduciaries on the Hook for More Than $200K
A defunct company and its 401(k) plan trustee have been ordered to restore contributions that weren't remitted to the plan as well as interest on contributions.
Tag: EBSA
DOL Complaint Alleges Fiduciary Failures by Adviser
A complaint filed in a Pennsylvania district court by the DOL’s Employee Benefits Security Administration alleges a list of ERISA infractions related to fees, documents, disclosures and processes...
Compliance Consult
Don’t Forget About Sweep Programs
Prohibited transactions under the new fiduciary rule
Advisory Council Meeting to Focus on Plan Transfers, Cybersecurity
Organizations and individuals in the retirement plan community are invited to submit comments or request to address the ERISA Advisory Council.
DOL Hosting Fiduciary Responsibilities Seminars in July and August
The agency has announced three locations at which it will host its seminar.
Regulators Propose Form 5500 Annual Report Modernization
The IRS, EBSA and the PBGC want to simplify and improve the process of creating and submitting the Form 5500 for employers.
SSGA Lobbying Congress on Mandatory Retirement Plan Bill
Following the firm’s open letter to Congress, it is working with key Senate and House members to submit a bill.
‘Unfair’ ESOP Valuations Drive $7M Settlement with EBSA
The recent judgement against AIT Laboratories adds nearly $3.5 million to previous collections, now totaling more than $7 million.
Expectations from Washington for Retirement Plans
Rich McHugh discusses proposals in Congress and regulator initiatives that will affect the retirement plan industry.
DOL Accuses Firm of Prohibited Retirement Plan Loans
The suit alleges a law firm president and owner caused the company’s retirement plan to loan thousands of dollars to real estate deals he controlled.
Court Orders Payment of Government Contract Retirement Plan Contributions
The DOL alleged that James Brunk and Brunk Industries Inc. failed to collect prevailing wage employer contributions for the employees’ 401(k) plan provided by government contracts for work...
DOL Announces Several Fiduciary Responsibilities Events
The agency is offering its “Getting It Right – Know Your Fiduciary Responsibilities” seminar in five locations.
ESOP Attorney Restricted in Advising Plan Fiduciaries
Johanson agreed to some of the broadest restrictions the department has sought to date on an attorney's ability to advise parties concerning transactions that involve employee benefit plans...
Fiduciary Rule Shows Washington Compromise Can Still Happen
More than a few industry insiders and analysts have tipped their hats to DOL and Labor Secretary Perez for listening carefully to criticism and reshaping some of the...
Early Fiduciary Rule Interpretation from ERISA Experts
ERISA experts warn that it will take some time to judge the final fiduciary rule published by the DOL, given the serious length and complexity of the rulemaking...
First Round of Industry Response to Final Fiduciary Rule
Some of the biggest financial services firms and advocacy groups have registered their initial impressions of the Department of Labor’s final fiduciary rule, including FSI, TIAA, FPC and...
Sec. Perez and Department of Labor Unveil Final Fiduciary Rule
Labor Secretary Thomas Perez stressed to reporters that changes made to the proposed version of the regulations will make the final fiduciary standard broader and stronger, “but absolutely...