Tag: ERISA
Advisers Looking to Technical Solutions Ahead of DOL Rule
A new survey finds that as implementation of the DOL’s fiduciary rule approaches, more than half of advisers expect to increase investment in client service and compliance technology.
'Church Plan' Cases to Be Heard by Supreme Court
The cases for which petitions for writs of certiorari were granted include Dignity Health v. Rollins, Saint Peter’s Healthcare System v. Kaplan and Advocate Health Care Network v....
Wells Fargo Self-Dealing Suit Questions Committee Practices
The latest example of retirement plan fee litigation questions the offering of an “easy enrollment” function that favored investment into the company’s own TDF mutual funds.
Investment in Sequoia Fund Target of Another Retirement Plan Suit
The lawsuit claims retirement plan fiduciaries breached their ERISA duties by continuing to offer the fund, because it was not diversified.
Capital One Eliminates Commission-Based IRAs
As the implementation date for the Department of Labor (DOL)’s Conflict of Interest rule approaches, Capital One Investing will be moving away from commission-based products within its retirement-account...
Second Suit Targets Edward Jones Over Self-Dealing Claims
Edward Jones is being accused by another set of plaintiffs of favoring the investments of its “preferred partners” in its 401(k) plan, enriching the firm at the expense...
Recordkeeper Not Liable for 401(k)'s Failure to Provide Financial Audit
In addition to imposing penalties for failure to provide requested plan documents to a 401(k) participant, a federal district court found the plan filed a simplified Form 5500...
Financial Engines and Xerox Questioned in ERISA Suit
The latest ERISA lawsuit to be filed targets Xerox and Financial Engines for advice arrangements negotiated between the firms and several Ford Motor Company retirement plans.
JP Morgan Chase Latest to Cut Commission-Based Retirement Accounts
Reuters broke the news that JP Morgan Chase and Co. will stop offering commission-based retirement accounts prior to the DOL fiduciary rule implementation.
Robo-Advisers as Fiduciaries Present Challenges and Opportunities
As Baby Boomers push closer to retirement, they are facing a drastically different investing world than the one they grew up in—gaining access to radically different approaches to...
Plan Document Best Practices Framework
A new analysis contends that, with careful governance practices in place, managing a compliant and effective retirement plan doesn’t have to be burdensome or even difficult.
DOL Fiduciary Rule Posts a Key Victory in District Court
A U.S. district court judge has ruled in favor of the DOL fiduciary rule’s pending implementation, defeating fixed-indexed annuity providers’ effort to stall the groundbreaking regulation in court.
Measured Use of 12b-1 Fees Will Continue
Advisers will certainly have heard questions from clients about the use of 12b-1 fees moving forward under the new DOL fiduciary rule; what are the experts saying?
Sister Broker/Dealers Launch DOL Compliance Program
In light of the DOL fiduciary rule, the two firms plan to roll out a series of new compliance tools and initiatives including a Product Mix Transition Calculator...
Informational Copies of 2016 Form 5500 Released
The “Changes to Note” section of the 2016 instructions highlight important modifications to the Form 5500 and Form 5500-SF and their schedules and instructions.
Technology-Committed Firms See a Lot to Like in DOL Fiduciary FAQ
Attorneys and executives working for robo advice technology providers suggest the DOL fiduciary rule—as enumerated by the new FAQ publication—paves the way for their approach to succeed.
DOL Issues More Hurricane Matthew Relief for Plan Sponsors
In addition to relief for hardships and loans provided by the IRS, the DOL is relaxing rules about contribution and loan repayment submissions and blackout notices.
Fiduciary Rule Could Curtail Providers’ Communications With Participants
Broadridge looks at the new fiduciary rule’s “far-reaching implications for the retirement plan participant experience” and how to avoid pitfalls.
Detailed Fiduciary Rule FAQ Published By DOL
Acknowledging that “smart regulation is only as effective as its implementation,” the DOL has issued extensive guidance for advisers and providers seeking to comply with the new conflict...