Tag: ERISA
New Bill to Encourage ESOPs Introduced
House Ways and Means Committee members introduced legislation designed to spur more employee-ownership in private industry.
Mutual of Omaha Offers Plan Administration Services
Mutual of Omaha Retirement Services is now offering 401(k) Admin Advantage, an Employee Retirement Income Security Act (ERISA) 3(16) administration service.
FINRA Fines Merrill Lynch Due to Sales Charges
The Financial Industry Regulatory Authority (FINRA) fined Merrill Lynch $8 million for failing to waive mutual fund sales charges for certain charities and retirement accounts.
Mass. Regulator Argues for Better Disclosures of Match Changes
In a report sent to Congress and the Department of Labor, the Massachusetts Securities Division (MSD) is asking for improved disclosures to retirement plan participants of company match...
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.
Fiduciary Status Not Triggered by Contribution in Company Stock
A federal appellate court ruled Morgan Stanley & Co. and its CEO were not acting in a fiduciary capacity when deciding to make company contributions to two retirement...
Realtor to Repay Plan for Bad Real Estate Investment
A federal district court has ordered an Oregon realtor to repay more than $400,000 to the participants of its profit-sharing plan.
Court Deems MassMutual a Fiduciary for Setting Compensation
A plan sponsor’s lawsuit over revenue sharing payments has moved forward as a court found the sponsor's plan provider became a functional fiduciary by setting fees.
State Law Considered for QDROs for Domestic Partners
The Alaska Supreme Court ruled unmarried domestic partners have a right to some retirement benefits via a qualified domestic relations order (QDRO).
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.
Defendants in One Church Plan Case Get a Victory
The defendants in one of the church plan court cases have had their status confirmed by a federal court.
Hispanic Chamber Finds Negative Impact of Fiduciary Redefinition
The expansion of the fiduciary definition proposed by the Department of Labor (DOL) could potentially impede the ability of small businesses to offer employees retirement plans, says a...
Retirement Advisor Council Sees Flaw in 408(b)(2) Review
In an open letter to the Department of Labor (DOL), the RAC contends the regulator’s proposed methodology for assessing the impact of 408(b)(2) fee regulations is flawed.
Do You Recommend a Fee Policy Statement?
Fee policy statements are in the early stages, but they can help plan sponsors manage fees and help an adviser show he’s ahead of the curve.
Delta Air Lines Wins Stock Drop Suit Appeal
The 11th U.S. Circuit Court of Appeals used its own case history to dismiss a lawsuit brought by participants in a Delta Air Lines employee stock ownership plan...
There Is an Exception to Attorney-Client Privilege
The common law of attorney-client privilege is intended to enable clients to speak with their attorneys in trusted confidence about work-related issues.