Even though there is no typical stable value fund, heading into 2018 there have been three typical types of lawsuits filed against fiduciaries offering stable value funds, according to ERISA attorneys with Mayer Brown.
A federal district court judge has dismissed the university’s motion for reconsideration of its previous motion to dismiss, while simultaneously granting a motion to stay the litigation process as a parallel case makes its way to the controlling 3rd U.S. Circuit Court of Appeals.
The Wall Street Journal published an analysis this week suggesting “at least five governmental agencies have received fake comments challenging the agencies' rules,” including the Department of Labor; the DOL is so far declining additional comment.
The Senate HELP Committee cleared Preston Rutledge’s nomination earlier in December; now the full Senate has approved his nomination to a post in which he will play a critical role overseeing the retirement planning industry and the future of the fiduciary rule.
One ERISA attorney who specializes in defending employers against fiduciary breach claims says 2017 has delivered no shortage of important, potentially precedent-setting decisions involving employee benefits law; and the stage is set for another whirlwind of a year in 2018.
In a series of sharply written, dueling reports, experts from the American Council for Capital Formation and CalPERS debate the proper role of environmentally and socially conscious investments—and whether the massive public pension fund has grown too political in its actions.
The lawsuit alleged that defendants’ conduct cost plaintiffs and the proposed class millions of dollars needlessly expended on excessive fees and costs; however, in a short but informative opinion, a judge has ruled the proposed class of plaintiffs lacks standing.
A number of key terms commonly present difficulty for nonprofit plan sponsors of all sizes—in particular the terminology surrounding “revenue sharing,” “fee levelization,” “fee policy statements,” and “3(21) vs. 3(38) advisers.”
A new Corporate Insight report offers a brief history of the development of financial services technology security measures introduced since 1996—delivering for retirement plan fiduciaries important contextual information about today’s evolving best practices.
All employees would have 6% of their income contributed to a workplace retirement plan and have these contributions automatically escalated each year.
The advancement of President Trump’s nominee to serve as the Assistant Secretary of Labor for the Employee Benefits Security Administration might not grab mainstream media headlines, but it represents a key development for the retirement planning industry.
IRI’s basic argument is that empirical evidence shows the outsized role advisers and consultants play in boosting investing outcomes—and that these professionals should not face overly burdensome restrictions on the recommendations they make involving mutual funds and annuities.
The benchmarking tool is now fully integrated with Fi360’s Fiduciary Focus Toolkit, which automates workflow and oversight to ensure fiduciary best practices.
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 custom target-date funds.
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 and money laundering charges.
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 investment option.
A federal district court denied a DB plan sponsor's attempt to pass liability for improper plan termination to its plan provider.
Nearly half of sponsors do not think they are fiduciaries, up markedly from 30% in 2011.
The lawsuit challenges the use of retail share classes for the plan's investment menu and revenue-sharing paid to the plan's recordkeeper.
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 of the House Ways and Means Committee, enjoy broad support among the investment business and lobbying community.