Compliance | November 22nd, 2017 Wells Fargo 401(k) Participant Files Excessive Fee, Self-Dealing Suit Throughout the complaint, the plaintiff alleges that the plan’s fiduciaries’ lack of a systematic and unbiased review process caused participants...
Investing | November 22nd, 2017 Experts Push for Sponsor Courage When Offering In-Plan Lifetime Income DOL leadership has stated explicitly that investments with lifetime income elements can be a prudent investment option in DC plans,...
Compliance | November 20th, 2017 DOL Reaches Triple Settlement With First Bankers Trust The DOL alleged in all three cases that the firm approved transactions without undertaking the due diligence required of an...
Compliance | November 13th, 2017 Franklin Templeton Faces Familiar Self-Dealing Allegations The suit alleges that defendants “breached their fiduciary duties by causing the plan to invest in funds offered and managed...
Compliance | November 9th, 2017 Fiduciaries of MEWA Barred for Failing to Pay Medical Claims Employer and employee contributions to the multiple employer welfare arrangement were found in offshore Bermuda accounts.
Compliance | November 3rd, 2017 DOL Fiduciary Rule Enforcement Delay Under Review at OMB Until the final rule’s publication in the Federal Register, the exact details and length of the second enforcement delay will...
Compliance | October 19th, 2017 The Current State of Retirement Plan Litigation Panelists at the 2017 PLANADVISER National Conference discuss the state of litigation in the retirement plan industry and lessons learned...
Compliance | October 18th, 2017 ERISA Suit Targeting MIT Partially Dismissed in District Court The district court decision spells out a number of caveats impacting this type of ERISA litigation, explaining why it is...
Compliance | October 18th, 2017 Phillips 66 Retirement Plan Faces Suit Over Inclusion of Former Parent Stock Not only does the lawsuit claim ConocoPhillips stock does not meet ERISA’s definition of “employer securities,” but it says participants...
Compliance | October 11th, 2017 The Thrust of Fiduciary Liability Insurance In a world of heightened plan sponsor scrutiny, fiduciary liability insurance can be a powerful tool.
Administration | October 6th, 2017 Embracing In-Plan Annuities Specific policy changes and plan sponsor initiatives can make guaranteed lifetime income a norm in the DC plan space, TIAA...
Compliance | September 25th, 2017 Participant Says ‘Large Plan’ Failed to Negotiate Better Fees An excessive fee lawsuit has been filed against fiduciaries of the Novitex Enterprise Solutions Retirement Savings Plan, a 401(k) plan...
Compliance | September 25th, 2017 Wells Fargo Stock Drop Suit Dismissed A federal district court ruled the plaintiffs did not meet all the pleading standards set forth by the U.S. Supreme...
Products | September 21st, 2017 Voya Extends Framework Retirement Program to Tax-Exempt Market The mutual-fund based program also offers an in-plan retirement income option and access to 3(38) fiduciary services.
Compliance | September 20th, 2017 Essentia Health ERISA Suit Survives Motion to Dismiss Participants allege the company should have allowed a single recordkeeper to service its traditional DC plan and its 403(b) plan—and...
Compliance | September 19th, 2017 Plaintiffs Target DST Systems and Ruane Advisory for Fiduciary Failures According to plaintiffs, Ruane’s flagship fund, the Sequoia Fund, contained more than $25 billion in assets until the firm “engaged...
Compliance | September 18th, 2017 What 403(b) Plan Sponsors Can Learn From Recent Lawsuits Steps can be taken to prevent a lawsuit, establish defenses if a lawsuit arises and buy fiduciary protection.
Administration | September 14th, 2017 The TPA Landscape Is Changing There have been a rash of third-party administrator (TPA) acquisitions recently, and TPAs are offering new services.
Participants | September 11th, 2017 Most Participants Not Receiving Retirement Savings Advice Of those who do seek retirement investments advice, financial advisers are the most utilized source, according to a survey by...
Compliance | August 30th, 2017 Fiduciary Rule Transition Period Extended by One Year As the DOL lays out, the primary purpose of the proposed delay of full enforcement is to give the department...