Fi360 Releases Fee Benchmarker Update
The benchmarking tool is now fully integrated with Fi360’s Fiduciary Focus Toolkit, which automates workflow and oversight to ensure fiduciary best practices.
Tag: Fiduciary
Settlement Ends Fujitsu Lawsuit Filed Over Plan Fees, Custom TDFs
In their lawsuit, the plaintiffs called the Fujitsu plan one of the most expensive in the country and specifically called out the design and implementation of the plan’s...
Lawsuit Filed in Colorado District Court Shows Great-West Targeted by Fraud
The richly detailed text of the complaint shows multiple individuals are accused of defrauding Great-West and depositing ill-gotten assets in a variety of U.S. banks, resulting in fraud...
CenturyLink Sued by Plan Participants Over Large Cap Stock Fund Construction
Plan fiduciaries are accused of breaching their duties in the design, management, operation and administration of an active large cap U.S. stock fund offered as a core menu...
Court Finds Sponsor Cannot Fully Delegate ERISA Fiduciary Responsibilities
A federal district court denied a DB plan sponsor's attempt to pass liability for improper plan termination to its plan provider.
Sponsors’ Fiduciary Awareness Deteriorating
Nearly half of sponsors do not think they are fiduciaries, up markedly from 30% in 2011.
Excessive Fee Suit Filed Against Multiemployer Plan
The lawsuit challenges the use of retail share classes for the plan's investment menu and revenue-sharing paid to the plan's recordkeeper.
Ways and Means Democrat Introduces Long-Shot Bill Expanding MEPs
Almost any bill floated by a Democrat is going to be a long shot in the current political environment, but proposals submitted by Representative Richard Neal, ranking member...
Fiduciary Primer Quiz Reveals Knowledge, Process Shortcomings
Pavilion developed the quiz to gauge the knowledge of investment committee members and other professionals serving in fiduciary roles on ethics, conflict standards and fees.
Data Shows Sidecar Savings Accounts Could Support DC Plan Success
One clear way to help prevent retirement plan leakage is to help families cope with financial shocks and income volatility in the short term; one way to do...
401(k) Excessive Fee, Self-Dealing Suit Filed Against Wells Fargo
The suit questions the use of actively managed versus passively managed funds. It also suggests that collective trusts and separate accounts are better vehicles than mutual funds for...
More Regulation Might Not Be Needed To Boost Use of DC Plan Lifetime Income
Experts suggest an additional annuity safe harbor regulation is unlikely and perhaps even unneeded for promoting greater use of in-plan lifetime income solutions, given that sponsors’ hesitation is...
First Bankers Trust Settles Three ERISA Suits
The lawsuits alleged that First Bankers Trust violated the Employee Retirement Income Security Act when it approved stock purchases by three employee stock ownership plans.
SIFMA Files Brief in Support of Fidelity in Stable Value Suit
SIFMA says it has a strong interest in clarifying the fiduciary obligations of investment managers in selecting and managing investment options in retirement plans governed by ERISA.
Duty to Monitor at Heart of Fiduciary Solution from Cornerstone
The new fiduciary support solution aids retirement specialist advisers and their clients in meeting the strenuous requirements of ERISA and other investing and benefits laws—without getting in the...
Nordstrom Charged With Allowing Excessive Fees in 401(k) Plan
The lawsuit also says plan fiduciaries failed to use lower cost investment vehicles and made inadequate disclosures to participants about fees.
Franklin Templeton Targeted in Self-Dealing Fiduciary Breach Lawsuit
The self-dealing lawsuit filed against Franklin Templeton levels similar claims to other class-action challenges filed by employees of well-known financial services providers.
General Electric Faces Second 401(k) Plan Self-Dealing Lawsuit
The lawsuit concerns the offering of investment options management by General Electric Asset Management.
PANC 2017: Practical Fiduciary Practices
To help plan committees fulfill their fiduciary role, advisers have some practical strategies to draw from.
PANC 2017: Lessons in Litigation
Panelists at the 2017 PLANADVISER National Conference discuss the state of litigation in the retirement plan industry and lessons learned by decisions.