Tag: Fiduciary

Consumer groups and advocates of the fiduciary adviser industry want the Department of Labor to reconsider aspects of its proposed fiduciary rule.

Situations like this emphasize the clear and present need for retirement plans to implement effective cybersecurity policies.

While not the smallest to face an excessive fee lawsuit in recent years, Biogen’s defined contribution plan held less than $1 billion at the start of the proposed class period.

The lawmakers say environmental, social and governance-focused investing allows retirement savers to support long-term change by building a system that rewards and values inclusion and diversity in corporate culture, from the board to the workforce.

The basic contention of the lawsuit was that the company acted in a manner contrary to ERISA’s fiduciary requirements when it forced terminated employees to liquidate company stock holdings at an unfair price.

The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.

The complaint has been dismissed without prejudice, however, and the plaintiffs have until July 28 to attempt to remedy failures in their lawsuit.

Following the filing of various class member objections, a federal district court has denied a settlement agreed to by the parties in an ERISA fiduciary breach lawsuit against Northrop Grumman.

Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.

The Department of Labor has taken yet another step forward in what has been more than a decadelong effort to update the fiduciary duty applying to investment professionals serving workplace retirement plans.

A Texas couple faces a collective 22 years in prison after pleading guilty to an embezzlement and identity theft scheme that eventually funneled more than $15 million out of some 20 retirement plans.

Knowledge about and connections to the collective investment trust marketplace can be a key selling point for retirement plan advisers in 2020 and beyond—especially when serving small and mid-sized clients.

The new regulations, which go into effect on March 6, will require broker/dealers and their agents to provide investment advice and recommendations 'without regard to the interests of anyone but the customer.'

After 15 years of litigation, a new ruling has been filed in the case by the U.S. 2nd Circuit Court of Appeals, remanding the case once again to a lower court.