Compliance

A court judgment requires the fiduciaries to not only restore the unremitted repayments to the plan, but also $16,782.80 in interest on the unremitted loan repayments.

The DOL alleges that the company’s president influenced an appraiser’s valuation and the ESOP’s trustee didn’t do his due diligence before the stock purchase.

The judge rejected the defendants’ argument that the complaint cannot be based solely on the funds’ underperformance but must contain more specific allegations.

Motives behind keeping higher cost, underperforming funds in plan alleged in the lawsuit include providing seed money for Wells Fargo to launch new fund products.

The lawsuit was previously dismissed because the alleged breach of fiduciary duty involved the amendment of plan benefits, which is a settlor, not a fiduciary, function; a judge...

Underlying investments in funds using BOK’s CIT structure, as well as the use of BOK’s proprietary money market fund, are called into question.

The action, in part, addresses the concern plan sponsors had about the ability to understand—and to communicate to participants—these complex products.

Case documents show Salesforce has actually changed some of the practices that are criticized in the complaint, but the plaintiffs argue that these changes were made too late.

The underlying lawsuit alleged that SunTrust Bank’s 401(k) plan engaged in corporate self-dealing at the expense of plan participants.

Vanguard estimates the cost savings to 403(b) participants in plans that offer CITs could amount to as much as $250 million per year.

Among other things, items on the cumulative list include changes related to the Supreme Court DOMA ruling, hardship withdrawal changes and regulations for statutory hybrid plans.

A federal court judge found no impermissible reference to or connection with ERISA plans in the statute establishing California’s state-run auto IRA.

High-deductible health plans (HDHPs) will not lose their special status merely because they cover the cost of testing for or treatment of COVID-19 before plan deductibles have been...

The firm has also agreed to offer non-proprietary ETFs in its 401(k) plan’s self-directed brokerage account.

A new bill in the U.S. Senate would require pension plan sponsors to provide plan participants and retirees with certain ‘critical information’ when offering lump-sum buyouts.

If a 457 plan meets the definition of pension plan in certain cases, all accounting and financial reporting requirements that are relevant to pension plans should be applied,...

Defendants in an excessive fee case point to an appellate court decision that found "the fact that fiduciaries did not select the cheapest investment does not plausibly suggest...

The decision emphasizes that the use of hindsight to judge the prudence of fiduciaries’ investment decisions is impermissible under ERISA.

Details of the settlement in the first case of its kind to call into question the cybersecurity defenses a plan sponsor and its providers had in place for...