Compliance

403(b) plan sponsors should be aware of how their plan investments and fees stack up and of their fiduciary responsibilities, and they should better document decisions.

Jeffrey Slocum & Associates will pay some $500,000 into a settlement account in exchange for a release of all ERISA claims.

Trader Joe’s retirement plan committee is accused of failing to seek competitive bids for recordkeeping, among other alleged fiduciary breaches.

It has agreed to pay $5 million into a settlement fund.

One unique feature of the complaint is a short discussion of Sageview Advisory Group being a “non-defendant fiduciary.”

The agency says the third six-year remedial amendment cycle for pre-approved defined benefit (DB) plans begins on May 1, 2020, and ends on January 31, 2025.

In addition, the bank has agreed to an independent review of funds in its 401(k) plan and to issue a request for information to multiple potential recordkeepers.

Failure to find missing participants could disqualify a retirement plan under the tax code and lead to breaches of the ERISA fiduciary duty.

In 2019, the retirement plan industry saw the debate, support and eventual passage of the SECURE Act.

Although the complaint notes that the defendants acted to replace higher-cost share classes with lower-cost ones in 2019, it says that action did nothing to repair participants’ accounts...

The bill transfers certain funds to provide pension and health benefits for retired coal miners.

Sponsors can distribute assets from a 403(b)(7) custodial account, along with other measures.

The university says the high court should re-establish the pleading standard it previously set, as well as issue a decision to stop the pressure to settle cases against...

Passage of the SECURE Act is being hailed as a major accomplishment that will allow Congress to turn to other important retirement issues next year.

Among other issues, the plaintiffs allege that defendants failed to utilize the lowest cost share class for many of the mutual funds within the Cintas Corporation retirement plan.

The SECURE Act’s establishment of an in-plan annuity selection safe harbor and the development of open MEPs will take time to unfold—but perhaps not as much as some...

Revenue Procedure 2020-9 extends the deadline, applicable to pre-approved plans, for adopting an interim amendment relating to hardship regulations to December 31, 2021.

News that the SECURE Act’s provisions may soon become law caps off a year of intense lobbying efforts, spearheaded in particular by those with an interest in providing...

The regulations explain how grandfathered amounts are treated when a distribution is made from a nonqualified deferred compensation (NQDC) plan.