AT&T Fee Lawsuit Could Reach Supreme Court Next Year
Industry groups asked the Supreme Court to resolve an ERISA-related appeals court split.
Tag: ERISA
PTE 2020-02 and Compensation-Related Conflicts
PTE 2020-02 does not explicitly ban any adviser practices, but does require reasonable conflict mitigation policies regarding compensation.
What Market Abuses Are DOL’s Fiduciary Proposal Supposed to Prevent?
Supporters of the proposal say regulations are essential to protect retirement savers from conflicted advice.
Retirement Industry People Moves – 3/15/24
Definiti appoints Andreski CEO, adds sales and ERISA leadership; Morgan Stanley taps AI division head; MFS Names Alison O’Neill as CIO;...
Final Fiduciary Rule Goes to OIRA for Review
The controversial rule will likely be published later this spring, with changes anticipated.
House Passes Expanding Access to Capital Act
Act includes amendments including CIT-expansion to 403(b)s and updating electronic disclosures.
5 New Members Appointed to ERISA Advisory Council
The 15-member panel comes from the retirement and investment industry and advises the Department of Labor on ERISA-related issues.
Nuts & Bolts: Fiduciary Basics
What new advisers need to know about being a fiduciary, which can be plan trustees, plan administrators or members of...
FlexPATH, Wood Group Beat TDF-Selection-Based Lawsuit
A 401(k) complaint alleging fiduciary imprudence was rebutted in a 70-page review of the committee’s selection and review process.
Retirement, Wealth Expected to Continue Convergence in 2024
Advisory Marsh McLennan Agency and consultancy EY foresee a further push toward financial advisers seeking to engage with workplace retirement...
DOL Aims to Streamline PTE Application Process With New Rule
The changes are intended to reduce the amount of time needed to finalize prohibited transaction exemptions for plan fiduciaries.
DOL Proposes Rule on Auto-Portability
The proposal would permit providers to charge fees for auto-portability services.
Regulators Seek Comment on ERISA Disclosure Requirements
The IRS, PBGC and EBSA are accepting suggestions on how to simplify disclosures to benefit fiduciaries and participants.
ASA Calls on Congress to Name DOL Employees Involved With Fiduciary Proposal
The American Securities Association asked Congress in a letter to identify DOL staff involved in the fiduciary proposal and to...
401(k) Litigation Continues At ‘Fever Pitch’
Euclid Fiduciary’s litigation summary shows a dip in lawsuits in 2023, but signs of an uptick this year.
American Securities Association Says DOL Acting Secretary Cannot Finalize Fiduciary Proposal
The trade organization challenged the DOL’s proposal on several grounds, including that an acting cabinet secretary cannot finalize a rule.
2023 Retirement Plan Litigation Highlights
Sean Duffy, investment & fiduciary consultant with Conrad Siegel, notes key cases and learnings from the year in 401(k) litigation.
Clorox Seeks Dismissal of 401(k) Forfeiture Complaint
The company argues in the filing that its fiduciaries followed IRS guidance on how unused retirement assets can be used.
Litigation Trends to Watch in 2024: Drop in TDF Suits, More Forfeiture Complaints
Attorneys from Faegre Drinker Biddle & Reath LLP discuss qualified retirement plan litigation trends for the new year.
Tyson Foods Employees Allege Excessive 401(k) Plan Fees
The plaintiffs’ complaint included a detailed comparison of allegedly similar, lower-cost recordkeeper fees for the plan with $3.2B in assets.