Northwestern University Prevails in ERISA 403(b) Challenge
Underscoring the victory for Northwestern University and potentially giving some hope to other similarly positioned defendants, all pending motions were...
Tag: Fiduciary
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...
District Court Admits Error in ERISA Lawsuit Ruling
The district court’s new decision comes after its previous move denying defendants’ motion for summary judgment against plaintiffs’ claims, which...
ERISA Litigation Targets Lowe’s, Aon Hewitt Investment Consultants
Participants in the Lowe’s 401(k) plan have filed an ERISA complaint against their employer and Aon Hewitt Investment Consultants over...
Appeals Court Rejects AARP, State Arguments to Revive DOL Fiduciary Rule Process
The decision puts another layer of finality on the fate of the now-defunct Department of Labor fiduciary rule expansion, meaning...
Wisconsin Private Colleges Unite Retirement Plans in ‘403(b) MEP’
The Wisconsin Association of Independent Colleges and Universities announced a partnership with Transamerica to create a 403(b) multiple employer retirement...
Prison Sentences Handed Down in DOL ERISA Fraud Case
According to the DOL and FBI, two former executives of First Farmers Financial produced false documents and sent them to...
Charles Schwab Experts Debunk Passive TDF Myths
A TDF may invest its assets into index-based securities that do not make tactical adjustments as the markets change—but the...
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...
ERISA Fiduciary Breach Litigation Targets Home Depot, Financial Engines
The text of the complaint includes substantial detail about the inner workings of the Home Depot retirement plan, and its...
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...
Aon Hewitt Defeats ERISA Claims Regarding Financial Engines Partnership
The central claim in the failed class action was that plaintiffs were forced to overpay significantly for advisory services; defendants...
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Matchmaker for 3(38) Fiduciary Services Talks Market Trends
Curcio Webb serves as an independent intermediary helping plan sponsors select and monitor 3(38) advisers and outsourced chief investment officers;...
District Court Rejects Racketeering Claims Against Prudential, Morningstar
A district court has ruled that the complaint “does not sufficiently plead that the defendants were engaged in the conduct...
Tough Process Questions Raised by Fifth Circuit Fiduciary Rule Decision
To help ease the immediate concerns and confusion of clients, the law firm Stroock has published a helpful guide that dissects...
Circuit Courts’ Conflict on DOL Fiduciary Rule Could Persist
The fact that two U.S. Circuit Courts of Appeals, the Fifth and the Tenth, have issued conflicting rulings about the propriety of...
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...
State Authorities Launch Investigation of Wells Fargo Advisors
SEC-mandated regulatory filings from Wells Fargo Advisors have triggered state and federal inquiries into whether the firm’s advisers have made...
Connecticut State Treasurer Makes Compelling Case for ESG
An open letter penned by Connecticut State Treasurer Denise Nappier presents an articulate defense and endorsement of ESG investing programs—in...
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Fiduciary Advice Provider CAPTRUST Makes 3(38) Services a Big Focus
As one looks at retirement plans that have greater assets, the committee structure is more entrenched, which has slowed the...