Tag: DoL
Company Owner Personally Liable for Missing Contributions
Charles David Snyder, fiduciary to the Cleveland-based Attevo 401(k) retirement plan, has been ordered by a judge to restore $143,481.42 to the plan.
It Is Difficult to Factor Social Security into Retirement Planning
The complexity of Social Security benefit formulas and insecurity about the program’s solvency make it difficult for individuals to factor it into their retirement income planning.
EBSA to Discuss Small Business Retirement Plan Options
The Department of Labor’s Employee Benefits Security Administration (EBSA) will conduct a webcast for small businesses and their retirement benefit services providers on August 6.
How Employee Benefits Are Evolving
Experts in health care and retirement are concerned that the federal government is seeking new sources of tax revenue, says an EBRI report.
Industry Responses Vary on TDF Disclosure Proposals
About 30 investment firms and other parties responded to the Securities and Exchange Commission’s latest call for comments about a still-pending 2010 proposal to strengthen target-date fund disclosures.
Tips for Fielding Lost Participant Claims
“You can’t guarantee yourself a win,” says employee benefits lawyer David Weiner, describing claims appeals and litigation involving missing retirement plan participants, “but you can guarantee a loss.”
No ETA for Fiduciary Rule
Now that the White House has taken a hand in the redrafting process, it’s anyone’s guess whether the Department of Labor (DOL) will come out with a proposal...
Advisers Predict a Red Senate, Strong Growth
Two-thirds of independent financial advisers believe Republicans will gain control of the U.S. Senate in November, according to a new Financial Services Institute (FSI) poll.
IRS Reschedules Same-Gender Benefits Discussion
The Internal Revenue Service (IRS) has moved back the date of a phone forum on same-gender couples and retirement plans to July 17.
GAO Recommends Changes to Form 5500
The Government Accountability Office (GAO) is recommending that regulators consider modifying Form 5500 plan investment and service provider fee information.
Making Sure Plan Fees Are Reasonable
When it comes to retirement plan fees, recent regulatory changes and litigation have highlighted the importance of plan sponsors and fiduciaries ensuring that such fees are reasonable.
States With the Most Corrective Distributions
A new study of 401(k) plans shows that more than 50,000 of them failed nondiscrimination testing for the 2012 plan year.
Council Examining Practices for Outsourcing Plan Services
The Department of Labor’s (DOL) ERISA Advisory Council is examining practices for outsourcing employee benefit plan services.
Groups Weigh In on Proposed Fee Disclosure Regs
From excluding large plans to asking for wording that would prompt consultation with the plan adviser, organizations are petitioning the Department of Labor (DOL) about the proposed 408(b)(2)...
PSNC 2014: Washington Update
The Department of Labor (DOL) has increased full-scope audits of retirement plans, said Lisa Barton, a partner with Morgan, Lewis & Bockius.
DOL Again Seeks Comments on TDFs
Target-date funds (TDFs) are again put in the Department of Labor (DOL) spotlight for comments. Widely held in retirement accounts, TDFs may not be fully understood by investors.
Case Shows Importance of Using Caveats
Caveats included in pension benefit statements provided by Ford Motor Company saved the company from liability in a recent court case.
Advisers Can Wave Red Flags, Too
It’s well known that federal auditors look for red flags to target review efforts, but one service provider says retirement plan advisers should use them for better business...