Ill. Company to Restore $2.7M to 401(k)
A.B.D. Tank & Pump Co. in Elmhurst, Illinois, has been ordered to restore $2,767,051 to the company’s retirement plan.
Tag: ERISA
CEFEX Offers Service Provider Disclosure Review
The Center for Fiduciary Excellence (CEFEX) has rolled out a service to help plan sponsors mitigate the risk associated with the selection of service providers.
$18M Judgment Ordered in Alliant Cash Balance Case
A federal judge has approved calculations for an award to former participants in Alliant Energy Corp.’s cash balance plan.
DOL Sues Auto Supplier for Diverting Retirement Assets
The U.S. Department of Labor (DOL) is suing to restore $34.6 million in assets to two pension funds for employees of auto supplier Metavation.
Model Portfolio Guidance Should Not Be Ignored
All the controversy regarding the Department of Labor’s (DOL’s) guidance about fee disclosures for brokerage windows may have overshadowed its guidance for model portfolios.
Many Participants Do Not Understand Fees
More than half of participants surveyed do not understand retirement plan fees, indicating a need for education before the fee disclosure regulation goes into effect this month.
Revenue-Sharing Fee Analysis Now Available at Participant Level
It is up to a plan’s investment committee to determine whether the cost of reimbursing revenue-sharing fees to each participant is effective—or prohibitive.
Groups Urge Court to Give Judicial Deference to Plan Administrator
Industry groups are urging a federal appellate court to uphold a ruling for judicial deference to a plan administrator in interpreting a plan under ERISA.
ERISA Plans Given More Time to Comply with Swap Clearing
Employee Retirement Income Security Act (ERISA) retirement plans will have more time to comply with new rules concerning swaps.
Financial Plan Launches 401(k) Branch
Financial Plan Inc. of Bellingham, Washington, launched a new branch of business dedicated to 401(k) plans.
Five Attorneys Join Groom Law Group
Groom Law Group, Chartered, which focuses exclusively on employee benefits, hired five attorneys.
Advisers Favor Extending the Fiduciary Standard
More advisers should be bound by the Employee Retirement Income Security Act (ERISA) fiduciary standard, a survey found.
408(b)(2), 404(a)5) Present Prospecting Opportunities
Preparing for fee disclosure regulations may be tedious, but there is a silver lining: 408(b)(2) and 404(a)(5) can create prospecting opportunities for plan advisers.
Plan Advisers Should Urge Sponsors to Prepare for 404(a)(5)
Plan advisers should not delay helping plan sponsors prepare for the 404(a)(5) regulation as the deadline looms.
Firms Launch Fiduciary Outsourcing Solution
MillenniuM Investment & Retirement Advisors (MIRA) and Rosenbaum Law Firm introduced Fiduciary Freedom Solutions (FFS) for 401(k) and 403(b) plans.
DOL Urged to Allow Broader Use of Electronic Disclosures
A coalition of retirement plan trade associations is urging the U.S. Department of Labor (DOL) to permit broader use of electronic communications to deliver disclosures under the 408(b)(2)...