Compliance | June 18th, 2018 DOL Assists Custodians With Cleaning Out Abandoned Plans When a plan is abandoned, custodians are left holding the assets of the plan, but lack the authority to terminate...
Investing | June 8th, 2018 Signs of Annuity Market Stabilization After DOL Fiduciary Rule Derailment Data from Morningstar demonstrates variable annuity net assets fell 1.6% to $1.95 trillion during the first quarter of 2018, versus...
Compliance | May 25th, 2018 Court Orders Independent Plan Fiduciary for Cambridge Technology Group The DOL found the company's president and CEO did not process any distribution requests submitted by 401(k) plan participants, among...
Investing | May 25th, 2018 DOL’s ESG Investing Bulletin Raises Important Questions for Plan Fiduciaries Given some of the strong language used to warn retirement plan fiduciaries against placing other interests ahead of the financial...
Compliance | May 24th, 2018 DOL Fiduciary Responsibilities Seminar Coming to Chicago in July The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
Ask the Experts | May 15th, 2018 (b)lines Ask the Experts – Dealing With Missing Participants “I have been reading a lot about missing retirement plan participants lately. If our plan has any, should I be...
Compliance | May 14th, 2018 Court Orders Former Lighting Company Owner to Pay Back Profit Sharing Plan An investigation conducted by the DOL found the past trustee had issued checks from the plan’s checking account to the...
Compliance | May 11th, 2018 401(k) Plan Trustees Ordered to Pay Back Misused Funds A DOL investigation found the trustees used plan assets for businesses and properties owned by themselves and family members.
Compliance | May 9th, 2018 ESOP Fiduciaries to Pay More Than $2 Million to Settle DOL Lawsuit The Department of Labor sued Sonnax Industries, company officers and ESOP fiduciaries Tommy Harmon and Frederick Fritz, and Illinois-based First...
Compliance | May 7th, 2018 DOL Issues Temporary Enforcement Policy Following 5th Circuit Decision on Fiduciary Rule The agency noted that some financial institutions have devoted significant resources to comply with the BIC Exemption and the Principal...
Data and Research | May 1st, 2018 Report Lays Out Causes and Consequences of ERISA Lawsuits The rise in lawsuits is prompting more sponsors to turn to lower-cost index funds—and could prevent them from offering lifetime...
Compliance | April 25th, 2018 Judge Rules on DOL ESOP Challenge with Mixed Results The mixed decision comes after DOL moved for summary judgement; the defendants responded by moving to exclude key testimony from...
Compliance | April 19th, 2018 DOL Announces Fiduciary Seminar in New York City The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
Compliance | April 16th, 2018 New Conflict-of-Interest Proposal Expected from SEC As the Department of Labor (DOL) fiduciary rule process appears destined for defeat, experts speculate about the possibility that the...
Deals and People | April 10th, 2018 Fiduciary Governance Group Launched by Stradley Ronon The fiduciary governance group is designed to counsel investment committees and service providers, with a focus on avoiding and responding...
Compliance | April 5th, 2018 DOL Announces Fiduciary Seminar in Rhode Island The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
Compliance | March 30th, 2018 Plan Fiduciary Ordered to Pay Restitution for Stealing From 401(k) According to the DOL, the fiduciary failed to remit employee contributions to the plan and used the funds instead for...
Compliance | March 28th, 2018 Former CEO of Pharmaceutical Benefits Management Company Sentenced for Kickback Scheme The CEO pled guilty last year for paying illegal kickbacks to producers in an effort to steer employee health benefit...
Compliance | March 16th, 2018 Circuit Court Ruling to Vacate DOL Fiduciary Extends Regulatory Uncertainty In issuing a strong ruling to vacate the DOL fiduciary rule expansion, the Fifth U.S. Circuit Court of Appeals is...
Compliance | March 8th, 2018 Pension Trustee Found Guilty of Theft The trustee is ordered to pay $234,271 in restitution, serve a year of probation and be barred from serving as...