Tag: Litigation

5th Circuit Officially Mandates Decision to Vacate DOL Fiduciary Rule

Industry stakeholders immediately offered their thoughts on the complex regulatory saga that has surrounded the now-defeated DOL fiduciary rule; depending on their position in the industry and their particular client service philosophy, some providers are hailing this step as a victory, while others are bemoaning it.

PSNC 2018: Fiduciary Services and Support

Understanding the opportunities associated with 3(21) and 3(38) fiduciary services—and the key differences between them—can help ensure the best use of the retirement plan committee’s time and resources.

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 cover a variety of fiduciary breach allegations; a new ruling is now forthcoming. 

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 a Milwaukee investment firm to support “sham loans,” causing the firm’s clients, including ERISA retirement plans, to suffer nearly $180 million in losses.

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 the DOL’s process in creating and implementing a stricter fiduciary standard, leaves the retirement plan industry with a number of challenging questions.