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Report Addresses Common BICE Questions
A new report answers some common questions plan sponsors may have about the BICE rule.
Tag: ERISA
DOL Fiduciary Rule FAQ Further Clarifies Compliance Demands
In general, if a covered service provider will continue after the fiduciary rule to provide services only in a non-fiduciary...
Fiduciary Rule May Force Plan Advisers Away From Portfolio Management
“The DOL conflict of interest rule poses risk to a firm if [practice leaders] knowingly allow advisers to manage underperforming...
DOL Says Ponzi Scheme Included Employee Benefit Plan
The founder of an investment company has pleaded guilty and been sentenced.
Short Window Opens for Fiduciary Rule RFI Responses
EBSA hopes the responses submitted to this RFI can “form the basis of new exemptions or changes/revisions to the rule...
DOL Brief Defends Fiduciary Rule Despite Ongoing Review
Long-term, DOL staff is concerned about maintaining the department’s broad litigation and enforcement capabilities in the retirement plan services marketplace.
ERISA Suit Questions Money Market Performance, Recordkeeping Fees
Because revenue-sharing payments are asset based in the plan, plaintiffs argue, “they bear no relation to a reasonable recordkeeping fee...
Labor Secretary Says SEC Will Work With DOL on Fiduciary Rule
In addition, Acosta said the DOL’s budget proposal funds an effort to improve ERISA disclosures to retirement plan participants.
DOL Officially Pulls Back Final Rules for Government-Run Plans
The agency says resolutions passed by the president invalidate its earlier final rules.
Sponsor Reaches Settlement Agreement with Merrill Lynch
Plaintiffs say the settlement agreement “provides an excellent recovery” for class members, paying them “100% of their losses.”
Employers Must Assess HSA Fiduciary Exposure
While HSAs aren’t traditionally thought of as a retirement vehicle, the DOL broadened the scope of conflict of interest rules...
Sponsor Settles Northrop Grumman ERISA Suit
A bench trial began this March 14, and the settlement was initially struck after three days of trial.
PSNC 2017: Learning From Litigation
It is not always possible, even for the most carefully run retirement plans, to avoid getting dragged into ERISA litigation,...
Supreme Court Offers Interpretation of Definition of Church Plan
Looking at the definition of “church plan” in ERISA, the high court concluded that a plan maintained by a principal-purpose...
Plan Sponsors, Advisers Must Move Forward on Fiduciary Rule Compliance
Plan sponsors are reminded of the rule's provisions regarding education.
Guaranteed Investment Contracts Called Out In Principal Lawsuit
Participants in plans that purchased guaranteed investment contracts from the Principal say the arrangement has led to prohibited transactions under...
Multiemployer Plan Member Has No Claim Against Rehabilitation Amendment
WestRock RKT Company claims that the amendment violates ERISA because “critical status [multiemployer plans] with valid rehabilitation plans may not...
Senate Democrats Push Back on State-Based Plans for Private Workers
A new bill introduced by Senate Democrats would reestablish an ERISA safe harbor for state- and city-run retirement plans for...
Parties Reach Settlement in Church Plan Challenge
Franciscan Missionaries of Our Lady Health System has agreed to make payments to its pension plans over five years.
State-Plans for Private Sector Likely to Charge Ahead
The moves by Congress to deny ERISA safe harbor to state- and city-run plans for private-sector workers won’t have a...