Compliance

Legislation drafted as part of the Congressional budget reconciliation process includes a broad mandate for employers to offer retirement plans, along with language promoting guaranteed retirement income investments.

The court said that a plan’s mere underperformance, absent any specific allegations of imprudence, is not actionable.

The Department of Labor says the fiduciary diverted tens of millions of dollars in plan assets for their own personal benefit through a variety of illegal transactions.

The National Labor Relations Board found that the match formula stated in a memorandum of agreement between an employer and an employee union did not reflect what was...

Barbara Roper, who is known for her extensive work on financial services consumer protections as a leader of the Consumer Federation of America, is becoming a senior adviser...

After pointing out the flaws in excessive fee allegations and what it says is the real motivation for the lawsuits, the agency asked the court in a case...

An updated audit technique guide discusses the doctrines of constructive receipt and economic benefit, as well as IRC Section 409A, to explain when NQDC deferrals are included in...

Indemnification clauses in service provider contracts, PEPs and 3(16) administrators can reduce plan sponsors’ fiduciary burden, but none offer complete protection, attorneys say.

The plaintiffs have already filed an amended complaint after a judge found that their allegations were insufficient to state a claim.

The claims are typical of excessive fee lawsuits, but the plaintiffs’ lawyers attempt to cover their bases by addressing issues that have caused claims in other suits to...

The long-running case, in which investment adviser Ruane, Cunniff & Goldfarb is also a defendant, concerns investments of retirement plan assets in Valeant Pharmaceuticals stock.

The agency highlights a common error in applying the requirements and makes self-audit suggestions.

Although it was a longstanding practice for the trustees of the Young Adult Institute to vote on executives’ entry into the plan, an appellate court found that practice...

An appellate court found the district court erred in dismissing claims related to the use of higher-cost share classes and in denying the plaintiffs leave to amend their...

Retirement plan fiduciary breach lawsuits question the use of revenue sharing far more commonly than they criticize its absence.

The plaintiffs claim recordkeeping expenses more than doubled during the time Xerox Corp. used its affiliated recordkeeper. 

Plan fiduciaries are also accused of "failing to offer and retain a diverse pool of investment funds in accordance with the industry standard."

Attorneys from Morgan Lewis suggest plan sponsors proactively reach out to prior providers to find out if there are any undelivered assets.

The defense’s dismissal motion has been met with skepticism by the presiding district court.

The most common concern is that permissible investments for the funds will not earn the rate used for calculation of assistance payments.