J.P. Morgan Asks for Clarification on Fiduciary Proposal
J.P. Morgan believes that the proposed regulations to redefine the definition of fiduciary should eliminate unnecessary and subjective standards.
Compliance
SPARK Urges EBSA to Step Carefully with Fiduciary Rule
Larry H. Goldbrum, General Counsel of The SPARK Institute, said any changes to the definition of fiduciary should not be overly dramatic changes in policy.
Great-West Fears Industry Setbacks
Federal regulators heard from the president of Great-West Retirement Services who said efforts to rework the definition of a fiduciary could "set the retirement industry back 25 years."
ABC Warns against Too Broad a Definition of Fiduciary
The American Benefits Council (ABC) spoke at the Department of Labor’s (DoL) hearing today about its proposed redefinition of fiduciary.
IRS Defines “Readily Tradable” Employer Securities
The Internal Revenue Service (IRS) issued a notice of guidance regarding employer securities held by certain qualified retirement plans.
State Street SecLending Program Remains under Scrutiny
State Street Corp. has reported that the Securities and Exchange Commission (SEC) is continuing its investigation of the Boston-based company’s stock lending program.
ING Facing Revenue Sharing Suit
Healthcare Strategies Inc. is accusing ING Life Insurance and Annuity Company of violating the prohibited transaction rules of the Employee Retirement Income Security Act (ERISA).
Managing Disclosure Requirements, One Step at a Time
Fee disclosure regulations coming in 2011 and 2012 may seem daunting, but they also abound in opportunities.
"Non-Responders" to IRS Questionnaire May be Examined
The Internal Revenue Service’s Employee Plans Compliance Unit announced the completion of the information-gathering phase of its 401(k) Questionnaire Project.
GAO Urges More Help with TDFs for Plan Sponsors
The Government Accountability Office (GAO) recommended that the Department of Labor (DoL) take action to assist retirement plan sponsors in selecting appropriate target-date funds.
TPA Owner Pleads Guilty to Embezzling Plan Funds
A third-party administrator pleaded guilty to one count of embezzlement of $1 million in assets from 12 retirement plans.
ERIC Urges Exclusion of Benefit Plans from Swap Regs
Commenting on swap regulations under the Dodd-Frank financial reform bill, the ERISA Industry Committee (ERIC) asked for special considerations for employee benefit plans.
IRS Provides Guidance on 403(b) Plan Terminations
The Internal Revenue Service (IRS) has provided clarification on how section 403(b) plan termination provisions apply.
ASPPA Requests Audit Relief for 403(b)s
ASPPA and a group of 403(b) plan professionals have renewed their appeal to the government for additional relief for 403(b) sponsors struggling to meet new compliance requirements of...
ERIC Argues Stock Drop Dismissal Should Stand on Appeal
The ERISA Industry Committee (ERIC) urged a federal appellate court not to disturb a lower court decision throwing out a stock drop suit against ING.