PANC 2018: The Future of Retirement Advising
A look at consolidation, the role of recordkeepers and the importance of financial wellness programs.
Tag: Department of Labor
The Importance of Addressing Participant Complaints
If a sponsor does not respond, they could face a civil and/or DOL lawsuit
Registered Advisers Often Confused by Custody Reporting
Form ADV includes a number of questions about the custody of client assets; these questions continue to be a source of widespread confusion and inconsistent interpretations in the...
Missing Participants Could Disqualify a Retirement Plan
Mercer offers recommendations for retirement plan sponsors to search for missing participants.
Wells Fargo Drops Plans to Use T Shares in Retirement Accounts
Asked whether Wells Fargo Advisors will reconsider T shares if the DOL’s fiduciary rule is revisited or the SEC pushes through a conflict of interest rule, the firm...
DOL’s Ongoing Project Looks Into Retirement Plan Investments and Fees
The Department of Labor’s (DOL)’s Employee Benefit Security Administration’s (EBSA)’s Plan Investment Conflicts (PIC) project investigates issues related to fiduciary service provider compensation and conflicts of interest in...
Participants in Abandoned Plan Get Help From DOL
A court appointed an independent fiduciary to distribute assets to the remaining plan participants.
Court Orders Business Owner to Prison for Embezzling 401(k) Funds
The court-ordered restitution includes $69,000 in employee and matching employer contributions, as well as lost earnings due to the 401(k) plan, and approximately $4.3 million for fraudulent loans...
Deep Dive into DOL EBSA Enforcement Activities
When it comes to policing of retirement plans by the EBSA, the pace of settlements and corrections remains strong; experts pin this to the relative regional autonomy of...
Intro
Best Interest in Mind
Plan sponsors are likely to ensure that advisers are keeping participants' best interests in mind when recommending rollovers, even though the fiduciary rule has been vacated.
DOL Taking Its Fiduciary Responsibilities Seminar to Miami
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
PSCA Calls for Clearer Guidance from IRS and DOL on Missing Participants
The plan sponsor advocacy organization says there have been “numerous reports of aggressive DOL enforcement activity, and sometimes inconsistent positions taken by DOL auditors, regarding how plan sponsors...
PSNC 2018: Participant Advice in an Era of Fiduciary Uncertainty
Participant advice has highly progressed in the latest years, with the introduction of mobile technology and advanced systems, but how will it change under the new fiduciary rule...
Custodians Need Help Cleaning Out Abandoned Plans
Metropolitan Life Insurance Company and Brighthouse Life Insurance Company have agreed to work with the DOL to determine whether more than 2,000 retirement plans in their custody are...
DOL Announces Fiduciary Responsibilities Seminar in Chicago
Its “Getting It Right – Know Your Fiduciary Responsibilities” seminar will be held in Chicago, on July 10.