Rollovers, Investment Menu, Annuity Advice Standards to Be Overhauled in DOL Proposal
The DOL proposal would, under ERISA, assert jurisdiction over annuity sales and IRA rollovers.
Tag: ERISA
26 State AGs Will Appeal ESG Rule Lawsuit Dismissal
After their initial challenge to the DOL’s ESG rule was dismissed, the states are appealing to the 5th Circuit Court...
2 ERISA Mandatory Arbitration Case Appeals Will Not Go Before Supreme Court
The cases focused on ESOP valuation, and both rulings held that that mandatory arbitration and class action relief are not...
Complaints Allege Improper Use of 401(k) Plan Forfeitures
Plan fiduciaries were accused of fiduciary breaches for using plan forfeitures to offset future employer contributions, but ERISA experts would...
Citi Gets DOL Approval for Diverse Manager Plan Fee Payments
The bank’s attorneys tout a positive response from the DOL on the program designed to promote diverse asset managers in...
Federal Judge Rejects One of Two Challenges to DOL ESG Rule
The court’s decision says that the rule does not violate ERISA, but another case in Wisconsin continues.
The Fiduciary Exception to Attorney-Client Privilege
Sponsors should know when their legal communications are privileged and when they are not.
Plan Sponsor Groups Send Amicus Brief in Defense of AT&T
Industry advocates submitted a brief encouraging the 9th Circuit to rehear a decision against AT&T in a 2017 excessive fee...
Wagner Law Group: Climate Funds, ERISA May Co-Exist, With Prudence
A fiduciary can use climate funds, as long as they ‘equally serve’ the financial interests of participants.
Court Rules for DOL on ForUsAll Crypto Complaint
A federal court has dismissed a case alleging that the DOL overstepped its bounds when warning recordkeepers and fiduciaries against...
ERISA Case Against Cisco Over BlackRock TDFs Dismissed
A judge dismissed a complaint against the retirement plan committee for Cisco, marking the fifth dismissal of similar lawsuits.
Missouri Anti-ESG Rules Pre-empted by ERISA, Lawsuit Says
To the extent that they apply to pensions and other ERISA plans, the state-level regulations are pre-empted by federal law,...
9th Circuit Remands AT&T 401(k) Complaint Back to District Court
AT&T has filed for additional time to request a rehearing.
How du Pont Family’s 1947 Pension Trust Became an ERISA Nightmare
Fiduciaries of the trust are now liable for $38 million in pension liabilities.
Some 4010 Pension Filers May Qualify for Reporting Waiver
Due to unusual market conditions, many 4010 filers will struggle to determine if they are required to file, so the...
DOL Bars Aliera Companies, CEO From Serving as ERISA Fiduciaries
The health insurance company and CEO Shelley Steele were accused of paying more than $100 million to themselves and affiliated...
Annuity Provider Representatives Push Back Against PRT Criticisms
Leaders in the PRT world argue that many criticisms of insurers are misguided and that the DOL’s IB 95-1 has...
Industry Players Want Mandatory Roth Catch-Up Implementation Delayed
The list of industry groups calling for more time on Roth catch-ups is growing rapidly.
Verizon Reaches $30M Settlement in 401(k) Complaint
The 2016 lawsuit accused Verizon of failing to monitor a hedge fund in its retirement plan TDFs.
Ownership Structure, Investment Strategies of Annuities Concern Sponsors, ERISA Council Says
The ERISA Advisory Council discussed emerging trends in the annuities market, as well as concerns expressed by sponsors and other...