Adviser Advocacy Group Backs Fiduciary Rule
Filing a “friend of the court” brief in support of the DOL’s new fiduciary rule, the Financial Planning Coalition argues advisers will be able to adapt successfully to...
Compliance
IRS Revenue Procedure Eases Rollover Deadline Enforcement
In the presence of “a variety of mitigating circumstances,” taxpayers can now qualify for a waiver of the 60-day time limit generally placed on tax-free plan-to-plan or individual...
DOL Releases Final Rule on State-Run IRAs
The DOL also released a proposal to help a limited number of cities and local governments automatically enroll employees into IRAs.
IRS Raises 2017 HSA Contribution Limits for Individuals But Not Families
For individuals, the cap is raised by $50 to $3,400.
House Republicans’ Proposals Consolidate Retirement Provisions
A Neuberger Berman analysis of House Republicans’ tax and retirement policy proposals indicates fundamental tax reform is unlikely, but portends smaller changes.
Fidelity Faces Float Income Suit from HP, United Employees
Participants filed the proposed class action lawsuit despite the fact that the firm has already been successful in defending practices related to ownership of float income.
Self-Dealing Suit Questions Investment Lineup Prudence
Similar to other self-dealing suits recently filed against well-known retirement plan providers, Edward Jones is accused of favoring its own investments and those of its “preferred partners” in...
SunTrust Stock-Drop Complaint Moves Forward Post-Dudenhoeffer
The case has an extensive procedural history and is one among a handful of lawsuits winning reconsideration after the Supreme Court’s landmark 2014 decision in Fifth-Third Bancorp vs....
EBSA Says Plan Consultant Mistreated Small Businesses
Improper asset transfers and process failures are at the heart of a complaint filed by EBSA on behalf of clients of a Pennsylvania-based advisory firm.
Morgan Stanley Facing Excessive-Fee, Self-Dealing Lawsuit
The lawsuit claims the investment manager selected and retained relatively high-cost and poor-performing investment options for its 401(k) plan, some of which were managed for profit by Morgan...
Law Firm Files Four More Lawsuits Against University 403(b) Plans
This is the second lawsuit filed against Columbia University this week.
What the 403(b) Excessive Fee Lawsuits Do Not Consider
Attorneys point out distinctions between 403(b)s and 401(k)s, and lessons 403(b) plan sponsors can learn from recent lawsuits.
Discretionary Managers Can Reduce Sponsors' Fiduciary Risks
SEI recommends that retirement plan sponsors hire a discretionary investment manager who can provide greater fiduciary insulation and hire or fire investment managers within a fund, resulting in...
Columbia University Target of ERISA Excessive Fee Suit
The lawsuit claims the university’s 403(b) plans’ investment options were imprudent and expensive.
Pension Plans to Receive Settlement in Caremark Fraud Case
The plaintiffs serving as representatives of the class include the City of Birmingham Retirement and Relief System.
More University 403(b) Plans Targeted in Excessive Fee Suits
The complaints are nearly identical, with a few exceptions.
Claims Survive Dismissal in Allianz Self-Dealing Suit
A district court’s decision allowing self-dealing accusations against Allianz to proceed offers some important points of consideration for plan officials, especially as it pertains to documentation and pleading...
Retirement Security 10 Years After the PPA
There are still many things plan sponsors can do under current legislation and regulations to improve retirement security of American workers.
Duke University Employees Sue Over 403(b) Plan
The suit calls out the traditional 403(b) plan model of offering multiple funds, including individual annuities, and using multiple recordkeepers.
PPA Reduced Lawsuits Against Cash Balance Plans
It also provided guidance about how to convert a traditional pension to a cash balance plan.