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...
Tag: ERISA
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.
Court Dismisses 403(b) ERISA Claim Against Employer, But Not the Plan’s Adviser
The sponsor, a Texas counseling service, was protected by a safe harbor provision, but the adviser might not be so...
ERISA Lawsuit Filed Against Ventura Foods
The suit alleges Ventura did not monitor high fees and underperformance of the funds in its investment menu.
BNY Mellon Dismissed, Alight, Colgate-Palmolive Remain in Retirement Theft Lawsuit
A District Court judge dismissed BNY Mellon from an ERISA lawsuit, leaving defendants Alight Solutions and the Colgate-Palmolive employee relations...
Xerox Has Preliminary Settlement In Excessive Fee Lawsuit
The $4.1 million settlement is pending court approval.
Adviser NFP Absolved in ERISA Case; Molina Healthcare and flexPATH Still Face Charges
The plaintiffs in a suit against plan sponsor Molina Healthcare had sought to include advisory NFP for recommending “untested” TDFs....
Certified Financial Planner Board Issues Crypto Guidelines
The nonprofit warns financial planners that crypto-related assets “can be speculative and volatile.”
District Court Dismisses Two ERISA Lawsuits Challenging BlackRock TDFs
A series of lawsuits brought against plan sponsors that use the BlackRock funds as their QDIA received a setback last...