Tag: ERISA
Editor’s Letter
Kicking the Can
No more kicking the fiduciary rule implementation can down the road for the Department of Labor (DOL).
ICI, FSI Applaud Passage of Financial CHOICE Act
On Thursday, the House of Representatives passed a bill that would undo much of the Dodd-Frank Act’s regulations and the fiduciary rule.
PSNC 2017: ERISA Experts Project the Fiduciary Future
Expert speakers at PSNC 2017 freely admitted this is a vexing and even a bit frustrating time from the perspective of trying to get in front of potential...
SCOTUS Endorses Broader Understanding of ‘Church Plans’
The Supreme Court has ruled plans maintained by principal-purpose religious organizations are eligible for the church-plan exemption, whatever their origins.
Amended Excessive Fee Suit Against Chevron Dismissed
U.S. District Judge Phyllis J. Hamilton in the U.S. District Court for the Northern District of California found that for repeated claims the plaintiffs failed to correct the...
UBS Signals Commitment to Asset-Based Compensation
UBS will offer multiple ways for retirement account clients to pay their adviser, including through asset-based and commission-based structures, beginning imminently.
SEC Chair Clayton’s Recent Fiduciary Comments Are Revealing
The SEC chair issued only a brief statement on his intention to work with DOL officials on reforming conflict of interest regulations—but his language is revealing.
Understanding Share Classes in DC Plan Funds
In the midst of ongoing litigation regarding excessive fees, plan sponsors need an understanding of the different fund share classes available and how they affect fee structure.
PSNC 2017 Preview: Washington Update
Leading experts explore retirement-related developments in Washington, D.C., and state capitals across the U.S.
Industry Groups Slam Trump, Acosta for DOL Fiduciary Rule Flop
Financial services industry lobbying groups quickly voiced surprise and frustration once confirmation emerged that the Trump administration will allow a strict new fiduciary standard to take effect.
Will Your Plan Sponsor Clients Attend PSNC 2017?
Plan sponsors from across the U.S. will gather in Washington D.C. next month for the annual PLANSPONSOR National Conference—presenting a tremendous opportunity for client networking and shared problem...
ERISA Class Action Targets Principal Over Crediting Rate
The complaint describes in detail guaranteed investment contracts offered by the Principal to retirement plans, which plaintiffs suggest permitted conflicts of interest and prohibited transaction.
Trust Company Suspends Services for New ESOPs Following Lawsuit
In April, a federal judge found First Bankers Trust Services Inc. liable for causing an ESOP to overpay for shares of the company’s stock.
Fiduciary Rule Debate Impacts State-Run Plans for Private Sector
A new bill introduced by Senate minority Democrats, seeking to protect ERISA exemptions for state- and city-run retirement plans for the private sector, would likely be made redundant...
Plaintiffs and TIAA Reach Settlement in ERISA Challenge
The settlement agreement delivers millions of dollars in compensation to TIAA employees, as well as non-monetary settlement provisions, while insulating the firm from further claims along these lines.
Another Health System Settles Church Plan Challenge
The lawsuit challenges the status of the pension plans of Franciscan Missionaries of Our Lady Health System.
State-Run Plan Momentum Likely to Continue
One retirement industry CEO argues the recent effort by Congress to remove the ERISA safe harbor protections for state- and city-run retirement plans offered to private-sector workers won’t...
Participant Understanding of Fees Improves Only Slowly
The Department of Labor has enacted a number of initiatives in the last decade to increase retirement plan fee and pricing transparency, but participant awareness of what and...
Senate Echoes House Votes to Remove State-Plan Safe Harbors
The Senate has passed legislation mirroring House-approved measures that will eliminate the Obama-era DOL rules regarding exempting state- and municipality-run retirement plans from ERISA.