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...
Tag: Fiduciary
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Investment Consultant Launches 401(k) Solution for Small Employers
DiMeo Schneider will be a 3(38) fiduciary investment manager for the program.
States Taking Fiduciary Reforms Into Their Own Hands
Several states are in the process of debating and potentially adopting their own legislation relating to the fiduciary responsibilities of...
Court Orders American Century to Produce Reports for Self-Dealing Suit
American Century must produce profitability, expense and performance reports created under provisions of the Investment Company Act for all the...
5th Circuit Hears Latest Round of Fiduciary Rule Arguments
At least one judge on the three-judge panel that has been assigned to the case seemed to have little sympathy...
DC Industry Providers Voice Fiduciary Rule Frustration
The DOL is still seeking information from DC industry providers and stakeholders regarding potential new and amended administrative class exemptions...
Another House Committee Considers Fiduciary Reforms
The Affordable Retirement Advice for Savers Act seeks to repeal the fiduciary rule and clarify what should and should not...
ERISA Suit Challenging Voya Stable Value Funds Rejected
The lawsuit unsuccessfully alleged Voya does not disclose to its retirement plan clients and their respective participants the amount of...
Stiff Prison Sentence After EBSA Fraud Investigation
EBSA says investors’ dollars, including ERISA-covered assets, were diverted to pay for home renovations, personal credit card payments and mortgage...
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dailyVest Launches DC Plan Health Tool
The new tool from dailyVest will provide plan sponsors with the ability to manage plan health, help improve employees’ financial...
MFS Accused of Engaging in Prohibited Transactions in 401(k)s
A lawsuit claims MFS used its 401(k) plans “as an opportunity to promote MFS’s mutual fund business and maximize profits...
American Airlines Agrees to Settle Proprietary Funds Lawsuit
The gross settlement amount is $22 million.
Brown University Faces Familiar Allegations in 403(b) Lawsuit
Individual annuity contracts and a large plan investment lineup are targets in the Brown University lawsuit, just as they are...
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...
DOL Issues RFI About Fiduciary Rule
The request for information asks whether provisions of the rule already in place should be delayed further.
Asset-Based Fees Questioned in Nationwide ERISA Challenge
The text of the complaint takes a deep dive into the services generally provided by recordkeepers and administrators of ERISA...
Waddell & Reed Charged in 401(k) Self-Dealing Suit
The lawsuit claims fiduciaries of the Waddell & Reed 401(k) plan breached their fiduciary duties and engaged in prohibited transactions...
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Cafaro Greenleaf Launches Fiduciary Reporting System
The system will allow retirement plan fiduciaries to have access to the complete documented process of their investment selection and...
Washington University in St. Louis Faces Second 403(b) Lawsuit
The strongly worded complaint says the plan fiduciaries “utterly abdicated their fiduciary duties to act prudently and loyally” by turning...