Compliance

The company and its board of directors are accused of various fiduciary breaches in the operation of a sub-$300 million defined contribution plan.

Much of the complaint is dedicated to discounting the use of an actively managed TDF suite rather than a less costly index TDF suite.

The text of the dismissal ruling relies heavily on precedent set by the United States 7th Circuit Court of Appeals.

The lawsuit also calls out the use of an investment manager’s proprietary actively managed funds and the plan sponsor’s failure to obtain cheaper share classes.

The parties’ proposed settlement agreement impermissibly releases claims that go beyond the scope of the allegations in the operative complaint.

The lawsuit accused plan fiduciaries of using the plan as an opportunity to promote Fidelity’s mutual fund business at the expense of the plan and participants.

Multiple lawsuits have been filed recently that question the offering of active management funds to retirement plan participants.

Attorneys say employers considering whether, and what type, of multiple employer plan (MEP) to join will want to closely monitor the progress of guidance anticipated from the Department...

Analysts say the Department of Labor is officially reinstating the “five-part test” for determining fiduciary status.

The proposed rule aligns with the SEC’s Regulation Best Interest and the Suitability in Annuity Transactions Model Regulation adopted last year by the National Association of Insurance Commissioners.

Though the majority of investment options for Estee Lauder’s 401(k) are CITs, the lawsuit argues the TDFs are more expensive private label CITs.

In a brief filed in the 9th U.S. Circuit Court of Appeals, the DOL argues that employer actions mandated by the program are sufficient for establishing and maintaining...

Prior standards presumed that all Section 457 plans were not pension plans and, therefore, were not subject to pension plan reporting requirements.

The warehouse club is also accused of breaching ERISA fiduciary duties by allowing the plan to pay ‘unreasonably high’ recordkeeping fees.

The proposed regulation would “confirm that ERISA requires plan fiduciaries to select investments and investment courses of action based solely on financial considerations relevant to the risk-adjusted economic...

IRS Notice 2020-51 answers questions regarding the waiver of required minimum distributions (RMDs) for 2020 under the Coronavirus Aid, Relief and Economic Security (CARES) Act.

The 2nd U.S. Circuit Court of Appeals has re-established its previous ruling in favor of the plaintiffs.

The plaintiffs in the lawsuit were waiting on distributions of their account valued at the end of last year when plan fiduciaries ordered a special valuation due to...

Notice 2020-50 expands the definition of who is a qualified individual to take into account additional factors such as reductions in pay, rescissions of job offers and delayed...