Why More Advisers Are Assuming 3(38) Role, Responsibility
The fiduciary model that puts plan investment decisions in advisers’ hands offers expertise and streamlining, industry experts say.
Tag: ERISA
CITs May Be the New Mutual Funds of DC Plans: Have They Earned It?
Low-fee collective investment trusts, already popular among large plan sponsors, may be moving down-market to smaller plans.
Judge Dismisses Excessive Fee Complaint Against HR Firm TriNet
The 2020 retirement lawsuit alleged that the plan committee did not properly monitor recordkeeper and investing fees.
Compliance Analysis
How to Avoid Fee Conflicts
Wealth managers can look to ERISA and the tax code for guidance.
Coca-Cola Settles ERISA Lawsuit Against MEP
The plan has agreed to a $3.3 million settlement for a complaint alleging it failed to drop an overpriced fund.
NQDCs Have Never Been More Popular. Is There Room for Them to Grow?
Trying to attract and keep talent, firms offering nonqualified compensation plans may need more innovation than expansion.
DISH Network Retirement Plan Survives Legal Challenge
The plan had been challenged for excessive fees and underperformance under ERISA, but a federal judge dismissed the complaint.
LinkedIn Will Pay Out $6.75 Million for 401(k) Participant Complaint
The firm was hit with a complaint for allegedly keeping a Fidelity fund without moving to options that were less...
EBSA Announces Three-Part Webinar Series on Fiduciary Duties
The webinars will cover retirement plans and group health plans.
Five New Members Added to ERISA Advisory Council
The five new members join the Council, totaling 15 members, who give advice to the DOL on ERISA regulatory matters.
Retirement Industry People Moves
CastleKeep names Mike Benevento partner; Snowden Lane Partners adds Eduardo Alvarez Andreu; Matt Berman named president at Foresters Financial; and...
IRS Proposes Rules That Require Retirement Forfeitures Be Used in 12 Months
A new IRS proposal formalizes guidelines on how plan administrators should manage and use retirement plan forfeitures.
Expert: Advisers Should Pause on DOL Rollover Guidance Despite Court Reversal
In the meantime, legal experts discourage advisers from violating it in case it is re-instated.
Federal Judge Nixes DOL Rollover Guidance Interpretation
A U.S. District Court judge ruled that Department of Labor guidance violated the Administrative Procedure Act.
DOL: More Time to Comment on Fiduciary Correction Program
The Department of Labor has extended the public comment period for a program that would allow fiduciaries to self-correct for...
Will RMD Age Increases Cause ‘Abandoned’ Property Problems?
SECURE 2.0 increased the RMD age to 73 and will increase it again to 75 in 2033. Some states’ laws...
Federal Magistrate Judge Recommends Dismissal of ERISA Case Against Dish Network
The plaintiffs have 14 days to resubmit and restate their claim in the excessive-fee case.
Allianz Asset Management 401(k) Participants Allege Self-Dealing
Two participants in the Allianz 401(k) plan allege the asset manager maintained an all-proprietary fund lineup that included expensive, underperforming...
Sports Agency Owner Charged for Allegedly Stealing Retirement Assets
The Houston-based sports agent was served a civil suit by the Department of Labor for allegedly dipping into employee retirement...
ERISA Suit Against Deloitte Dismissed
The lawsuit alleged that Deloitte’s 401(k) plan fees were excessive compared to similar plans.