Compliance

 Because multiple employer plans (MEPs) have been touted as a solution to expanding retirement plan coverage for Americans, the Government Accountability Office (GAO) explored this option. 

The Department of Labor (DOL) filed a lawsuit against GreatBanc Trust Co. and Sierra Aluminum Co., alleging that stock overvaluations led to losses for Employee Stock Ownership Plan...

Trustees of the Irotas Manufacturing Co. Inc. 401(k) plan have been sentenced for embezzling $487,000 from the plan, and have been ordered to pay restitution.

The Department of Labor’s (DOL’s) re-proposal of the definition of fiduciary is another indication that fiduciary responsibilities are increasing, and broker/dealers in particular could be impacted.

403(b)s have been excused by the Securities and Exchange Commission (SEC) from obtaining certain acknowledgements.

The Financial Industry Regulatory Authority (FINRA) fined Merrill Lynch, Pierce, Fenner & Smith Inc. $500,000 for failing to file hundreds of required reports.

A federal appellate court ruled that an employer’s failure to keep adequate records shifts the burden of proof to the employer that it does not owe contributions to...

An education policy statement and an education strategy document are helpful in building a retirement plan education program for employees.

The Employee Benefits Security Administration (EBSA) launched a website that offers information about fee disclosures to help workers with defined contribution (DC) retirement plans.

Industry groups have recommended to the Internal Revenue Service (IRS) a “safe harbor” correction for automatic enrollment failures.

Benchmarking a retirement plan includes analyses of providers, investments and the plan itself, attendees at the 2012 PLANADVISER National Conference learned.

It’s possible to broaden your practice successfully without running afoul of the rules, Roberta Ufford, principal at Groom Law Group, told conference attendees.

Plan sponsors have a fiduciary obligation to avoid prohibited transactions or overpaying for fees – which is where 408(b)(2) fee disclosure regulation...

Multiple-employer plans (MEPs) do not absolve plan sponsors from fiduciary responsibility, despite what marketing campaigns may advertise.

Brokerage windows should not be used to sidestep fee disclosure, a source from the Department of Labor (DOL) stressed. 

The government tries to lend its hand to the retirement readiness goal, but other agendas may get in the way.

Do you really know how your broker/dealer makes money? If not, it’s time to learn before a Department of Labor (DOL) investigator knocks on your door.

The 6th U.S. Circuit Court of Appeals has revived a lawsuit against Fifth Third Bank concerning company stock holdings in its employee retirement plan.

“The main thing is… don’t get excited.”

The Financial Industry Regulatory Authority (FINRA) announced that Vice Chairman Stephen Luparello is leaving to join the WilmerHale law firm in Washington, D.C.