DOL Fiduciary Reform Effort Losing Steam
Advisers and service providers to defined contribution plans have spent millions of dollars pushing toward compliance with conflict of interest...
Tag: Fiduciary
Self-Dealing Suit Challenges Fees and Fund Monitoring
An employee at JPMorgan Chase argues the firm's retirement plan fees were not properly controlled and that conflicts of interest...
Schwab Faces Excessive Fee, Self-Dealing Lawsuit
The lawsuit calls out Schwab’s use of its own proprietary funds as well as the use of unallocated plan cash.
Peering Through the Fiduciary Rule Uncertainty
A direct order from President Trump regarding the fiduciary rule could be forthcoming imminently, and that is likely what it...
Recordkeepers Preparing for New Fiduciary Era
Even if the DOL fiduciary rule is halted, working in clients' best interest is a "no-brainer," says Joe Ready of...
Supreme Court May Hear Case About Co-fiduciary Indemnifying Trustees
The case involves a complicated leveraged buyout of an ESOP that left participants with worthless stock.
Provider Communication Rules Scrutinized in DOL Fiduciary FAQ
On the high-level question, “Is every communication with a financial adviser about retirement accounts a fiduciary recommendation?,” DOL answers simply,...
FAQs Outline Investor, Plan Sponsor Rights Under Fiduciary Rule
“After April 10, advisers who are paid to make recommendations about retirement accounts, such as individual retirement accounts [IRAs] and...
Plan Sponsors’ and Advisers’ Goals Sometimes Misaligned
Plan sponsors are more concerned with operating their plans and avoiding potential liabilities, while plan advisers are more focused on...
Plan Sponsors Must Judge Fees Independently
Advisers and providers will help defend against fee challenges, but it is important to point out that the providers’ obligation...
J.C. Penney to Settle Stock Drop Suit
The company has agreed to pay $4.5 million to resolve a lawsuit alleging it failed to drop the company stock...
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John Hancock and NextCapital Offer Digital Advice
Both firms suggest digital and scalable fiduciary advice will be increasingly important under a stricter conflict of interest standard.
Fiduciary Rule Could Soon Be Delayed By Congress
According to its author, the legislation will “delay the implementation of a job-destroying rule … giving Congress and President-elect Donald...
DOL Sues ESOP Fiduciaries Over Share Sale
The lawsuit alleges the price at which shares of the ESOP were sold was artificially inflated.
Claims in Excessive Fee Suit Against Prudential Tossed
A court found Prudential was not acting as a fiduciary and an employer’s 401(k) plan menu and use of an...
D.C. Appellate Court Affirms Employer Win in Stock Drop Suit
So called “stock drop” litigation remains a concern for many in 2017, but recently some employers have posted key court...
Multiple Recordkeepers at Heart of Excessive Fee Suit
The complaint says having different recordkeepers for a traditional DC plan and a 403(b) plan caused participants to pay too...
Managing Investment Fees Among Plan Sponsors' Top Concerns
This is a shift from an emphasis on fiduciary risk in fund selection, a study finds.
The Best of PLANSPONSOR Magazine Columnist Stephen Saxon
Groom Law Group attorney Saxon writes opinion and advice on the legislative and regulatory changes affecting plan sponsors today.
New 401(k) Excessive Fee Suit Filed Against Delta Air Lines
Among the charges is that, prior to 2011, the plan included too many, and duplicative, investment options.