Compliance

The court basically decided Fidelity was not the fiduciary responsible for choosing to provide the advice and SDBA offerings to participants.

401(k) participants claim GE retained underperforming proprietary funds in the plan so that its asset management arm could earn significant profits.

Last year, the IRS updated the comprehensive system of correction programs for sponsors of retirement plans.

Generally, the overall effective date for 403(b) pre-approved plans are plan years beginning on or after January 1, 2010, but this raises issues for certain plan sponsors.

Research from the NIRS found millions of low- to moderate-income individuals have been unable to use the credit because they lack access to a qualified retirement plan.

The relief applies to PBGC premiums, single-employer plan terminations, reportable event notices, annual employer reporting, requests for reconsideration or appeals and multiemployer plan deadlines.

An excessive fee lawsuit has been filed against fiduciaries of the Novitex Enterprise Solutions Retirement Savings Plan, a 401(k) plan which had more than $157 million in assets...

A federal district court ruled the plaintiffs did not meet all the pleading standards set forth by the U.S. Supreme Court.

A federal court judge basically found many of the allegations stated normal business practices and the plaintiff did not offer enough arguments to support her claims.

The EEOC's district director in Chicago, says, "Our investigation revealed Mr. Rascher was fully cleared to return to work, but that S&C insisted he 'retire' instead."

The complaint states that Gucci America was “particularly egregious” in regards to offering proprietary funds from its service provider Transamerica.

The court granted summary judgment to the plaintiffs and ordered their benefits be paid along with prejudgment interest.

Participants allege the company should have allowed a single recordkeeper to service its traditional DC plan and its 403(b) plan—and that it permitted excessive fees by paying for...

A lawsuit alleges that asset-based fees led to the plan paying $1,819 per participant for recordkeeping services in 2015.

According to plaintiffs, Ruane’s flagship fund, the Sequoia Fund, contained more than $25 billion in assets until the firm “engaged in a misguided and reckless investment strategy.”

The agency is proposing two modifications for multiemployer plans and one modification for single-employer plans.

“In terms of the legislative agenda going forward, there is definitely a discussion of a pivot to tax reform,” said Elisabeth Bell, tax counsel for Senator Ben Cardin;...

The relief regards verification procedures for plan loans and distributions, participant contributions and loan payments, blackout notices, and group health plan compliance.

The PBGC and DOL also are providing relief similar to that provided to Hurricane Harvey victims.