Compliance

While the first lawsuit focused on excessive recordkeeping, administrative and investment fees, the new lawsuit focuses specifically on the university’s practices with regard to revenue sharing.

The EBSA’s Plan Investment Conflicts (PIC) project have reviewed conflicts of interest of fiduciary service providers and investment managers of plan asset vehicles that led to conflicted decision...

Voya successfully moved to dismiss the amended claims under Rule 12(b)(6), arguing that the claims should be dismissed because they fail to plausibly allege the firm actually took...

The IRS notes that Rev. Proc. 2017-41 modified the pre-approved letter program by combining the master & prototype and volume submitter programs into a new opinion letter program.

Because participants receiving a student loan repayment non-elective contribution can still make deferrals to the 401(k) plan and receipt of the contribution is not dependent on whether the...

The bank has agreed to pay $21.9 million to settle charges it benefited from including proprietary funds in its 401(k) plan.

In a decision granting victory to New York University, a federal judge noted “deficiencies in the Committee’s processes—including that several members displayed a concerning lack of knowledge relevant...

Comments to the ERISA Advisory Council mention lack of utilization among plan participants and other ways DC plan participants can create sustainable retirement income.

Among other things, the Main Street Employee Ownership Act focuses on increasing the role of the Small Business Administration (SBA) in facilitating ESOPs by allowing the SBA to...

A provision in a union contract limits the salary increases of teachers who are within ten years of retirement eligibility to no more than 6% above their previous...

Fiduciaries of the Sacred Heart Hospital Profit-Sharing 401(k) Plan failed to administer the plan after the hospital operations ceased in 2013, according to the DOL.

“The school has been deemed non-compliant with its contractual obligations regarding financial management as identified in the charter operating agreement,” a letter sent to school officials says.

PIMCO has requested that a number of documents remain sealed and not be open to the public by the court.

The California Supreme Court has asked an appellate court to review a proposal approved by voters in 2012 to place new hires in a defined contribution (DC) plan...

The financial firm will pay $6,900,000 in settlement.

The agency accuses the system of passing over a 53-year-old with 25 years’ experience to hire a 23-year-old with less than two years’ experience.

A multi-agency investigation found that from approximately May 2011 through August 2012, the business owner unlawfully embezzled and converted approximately $31,403 in deferred contributions from employees.

For one thing, the appellate court noted that the plaintiff did not use a sufficient benchmark to show that Wells Fargo’s TDFs were an imprudent investment for its...