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| Compliance |
| ERISA Excessive Fee Claims Against Checksmart Time-Barred by District Court |
| The U.S. District Court for the Southern District of Ohio has ruled in favor of the defense in an Employee Retirement Income Security Act (ERISA) excessive fee lawsuit targeting Checksmart Financial’s defined contribution (DC) plan and Cetera Advisors. The original lawsuit was filed by a participant in the Checksmart Financial 401(k) Plan, contending in various ways that fees for funds offered in the plan are excessive. The plaintiff accused Checksmart, its plan committee, and the plan’s investment adviser, Cetera Advisor Network, of only offering expensive and unsuitable actively managed mutual funds, without an adequate or appropriate number of passively managed and less expensive mutual fund investment options. The court rejected several arguments by plaintiffs that the suit should not be dismissed for falling outside ERISA’s three-year statute of limitations.Read more > |
| Workers Urge Committee to Fix Multiemployer Pension Crisis Now |
| The Joint Select Committee on the Solvency of Multiemployer Pension Plans held a hearing in Ohio last week to gather testimony from employees affected by the multiemployer pension plan crisis. The committee was told that benefit cuts are not the answer and was urged to reform withdrawal liability rules.Read more > |
| Sifting Through Retirement Plan Regulations |
| Understanding the hierarchy of regulations and how plan sponsors should interpret seemingly conflicting ones.Read more > |
