EBSA Pulls Back Controversial Advice Mandate

The long saga of the U.S. Department of Labor’s (DoL) hotly debated investment advice rule took another twist today when the DoL’s Employee Benefits Security Administration (EBSA) announced the controversial final rule is being withdrawn.

EBSA Further Delays Investment Advice Rule

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) announced Monday that it is giving itself until May 17, 2010, to develop a new version of its final investment advice rule.

IMHO: Tractor “Trailer”

About a week ago, Caterpillar agreed to a $16.5 million settlement of one of those allegedly excessive fee/revenue-sharing lawsuits.

EBSA Issues More Guidance on Form 5500 Schedule C

The Department of Labor's Employee Benefits Security Administration (EBSA) has issued additional guidance in response to questions from plans and service providers on the requirements for reporting service provider fees and other compensation on Schedule C of Form 5500.

IMHO: A SunAmerica Opinion

I am admittedly something of a pension (and regulatory) geek, but when the SunAmerica Opinion was published (December 2001), it was clear that something big had just happened. 


Vick to Turn Over $400K to DoL

Disgraced NFL quarterback Michael D. Vick has agreed to pay $416,461 in restitution to a pension plan sponsored by his company MV7 LLC to settle allegations Vick had funneled off plan assets for his personal use.

IMHO: Under New Management

Sitting in the audience at the ASPPA/DoL Speaks conference last week, I was reminded just how disruptive it can be to have a new boss.  

IMHO: Duty Calls?

When it comes to qualified retirement plans, there are three kinds of people: people who are fiduciaries and know it, people who aren’t fiduciaries and know it, and people who are fiduciaries and don’t know it.