Tag: Fiduciary

In Memoriam: How the Fiduciary Rule Changed the Retirement Industry

With the news emerging that the 5th U.S. Circuit Court of Appeals has certified its ruling to vacate the DOL fiduciary rule, Scott Gehman, a retirement plan consultant with Conrad Siegel, reflects on what is already an important legacy for the short-lived set of conflict of interest reforms.

Lessons from Litigation: Process Matters Most

When it comes to fiduciary liability insurance, having the broadest possible statement of coverage is generally best; this is because it is a functional test for determining whether any given plan official or company officer is a fiduciary.

Lawsuit Seeks to Halt Rollout of California Secure Choice Savings

The Howard Jarvis Taxpayers Association wants a federal district court to halt the program, based on ERISA preemption and the possibility that home-owning Californians could be called on to pay additional taxes to support Secure Choice, which aims at opening up retirement investing opportunities.

Rare Motion for Reconsideration Granted by District Court in ERISA Suit

Legal experts generally consider reconsideration of a judgment an extraordinary remedy, one which will be granted only sparingly; even so, a federal district court has admitted key mistakes and says it will reconsider its ruling in a retirement plan lawsuit in which it had previously denied summary judgement in favor of the defendants.

Breaking Down Fiduciary Uncertainty for Plan Sponsor Clients

Backing away from the topic of the DOL fiduciary rule, ERISA attorney Fred Reish focused his speech at the Plan Sponsor Council of America’s national conference on general compliance duties of ERISA plan sponsors; he noted that courts have applied what is called the “two hats” doctrine.