DOL Secures Fiduciary to Distribute Nearly $1M to Participants
A now-defunct company failed to take the appropriate steps to terminate its 401(k) plan.
Tag: EBSA
Fiduciary Insights from Fidelity Policy Development Leader
As former tax counsel for the U.S. Senate Finance Committee, Fidelity Investments’ Doug Fisher has watched major legislation and regulation unfold from both inside and outside government.
EBSA Wants Feedback on Upcoming Research Effort
The Employee Benefits Security Administration is giving employers and service providers an opportunity to comment on how it collects and processes information, especially as it pertains to a...
DOL Obtains $1.7M for Profit Sharing Plan
Officers of Alliance Home Healthcare illegally distributed assets of the company’s profit sharing plan, a DOL lawsuit claims.
Union Fund Trustees Sued for Multiple Fiduciary Breaches
The International Association of Machinists National Pension Fund and its board of trustees are facing a lawsuit.
DOL Files Suit Over Employer Stock Valuation
The U.S. Labor Department filed a lawsuit against a Florida employer accused of imprudence in the valuation and sale of the company’s stock to its own employees.
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DOL Explains Current Focus
Phyllis Borzi revealed some of the thoughts behind certain DOL initiatives, and asked for help from the industry.
Lawmakers Want a Review of Fiduciary Rule Changes
In a letter to the DOL, members of Congress ask that changes made to the proposed fiduciary rule be submitted for review to the public before sending to...
Credit Suisse Can Continue Managing Retirement Plan Assets
The bank, which pled guilty to criminal charges last year, applied for an exemption that would enable it to keep its status as a qualified professional asset manager.
Whistleblowers Remedied Following ERISA Challenge
The DOL says officials at Cement Masons Southern California Trust Funds illegally retaliated against a whistleblower who flagged ERISA violations.
DOL Says Company Kept Employee 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Regulatory Change Brewing Beyond Fiduciary Rule
Focus on DOL’s fiduciary rulemaking is understandable—but there are other major regulatory changes in the works that will directly impact retirement plans.
DOL Gets Final Judgment in Misuse of Pension Funds Cases
The latest court order culminates six years of investigations and three years of legal battle.
DOL Announces Hearing About Fiduciary Rule
The announcement also includes the official notice of an extended comment period.
Fiduciaries Removed for Misusing Retirement Plan Funds
The Department of Labor filed suit against fiduciaries of a medical corporation’s pension plan for using plan assets for personal expenses, citing multiple violation of the Employee Retirement...
DOL Wants More Control over Plan Audits
A new report from the Department of Labor suggests the quality of benefit plan audits performed by certified public accountants is lagging, with major deficiencies found in four...
Bipartisan Legislation Supports Lifetime Income Disclosures
Lawmakers in the U.S. Senate this week introduced legislation that would mandate lifetime income demonstrations and other disclosures in defined contribution retirement plans.