It gives sponsors a way to document the fiduciary oversight process.
Witnesses at a retirement security hearing held Thursday by the Senate HELP Committee all spoke about the central importance of closing the defined contribution plan coverage gap.
The plan features a professionally managed investment lineup and fiduciary services.
Drawing on their collective decades of experience working inside and outside the DOL, a panel of expert ERISA attorneys convened this week by Faegre Drinker had a lot of timely lessons to share regarding investigations of investment advisers.
This is meant to help retirement investors, employee benefit plans and investment advice providers.
Since being named the 2018 PLANSPONSOR Mega Team Retirement Plan Adviser of the Year, the practice’s assets under advisement have doubled.
The full Senate voted Monday evening to approve the nomination of Boston Mayor Marty Walsh to lead the U.S. Department of Labor at critical time for the U.S. economy and its workforce.
The new center aims to create master’s and Ph.D. programs with a concentration in fiduciary responsibility.
The financial services company is facing self-dealing allegations that closely echo those filed—with mixed results—against many of its industry peers.
Related self-dealing claims made against other national financial services providers by participants in their own retirement plans have met varying degrees of success.
In the coming days, the agency will publish related guidance for retirement investors, employee benefit plans and investment advice providers.
The decision means the fiduciary breach lawsuit filed against the Land O’Lakes dairy company will keep churning through the courts—or potentially reach a pretrial settlement.
The underlying lawsuit involves claims that plan fiduciaries failed to adequately protect a participant’s account, allegedly resulting in the theft of funds.
The labor secretary nominee spoke proudly of his labor roots and his ties to Boston, while responding to varied questions about the DOL’s important mission.
The $800 million retirement plan in question is used by participants dispersed across 65 independent U.S. Coca-Cola bottlers.
Sources say Marty Walsh’s long-term ties to organized labor will likely be a main topic of discussion at the forthcoming confirmation hearings, but pension issues and retirement security are also likely topics.
Similar complaints have met different fates in the courts, based largely on the degree to which judges feel the preliminary case documents sufficiently allege that imprudent or disloyal actions may have occurred.
Among the more telling chapters in Gensler’s biography is his work helping to draft the Sarbanes-Oxley Act as a senior adviser to former U.S. Senator Paul Sarbanes in the wake of the Enron scandal.
The ruling states there are genuine disputes of material facts as to make summary judgement, whether in favor of the plaintiffs or the defense, inappropriate at this time.