October 18th, 2017
The district court decision spells out a number of caveats impacting this type of ERISA litigation, explaining why it is dismissing some claims while permitting others to go to a full trial.
October 12th, 2017
Some communications with terminated participants are required by law, but plan sponsors can take this farther—from offering the opportunity to repay loans to invitations to social events.
August 22nd, 2017
A new report answers some common questions plan sponsors may have about the BICE rule.
August 17th, 2017
A new ruling has emerged in the long-running case, applying instructions from the Supreme Court and the 9th Circuit to reach a verdict favorable to plaintiffs.
August 11th, 2017
FSR says, “access to investment services for investors with modest-sized and small account balances has been, and will continue to be, substantially diminished as a result of the best interest contract (BIC) exemption’s onerous compliance burdens and litigation risks.”
August 10th, 2017
Along with its comment letter to the Department of Labor, SIFMA sent study results that showed advisers have reduced access to retirement advice and products.
August 9th, 2017
Many retirement industry providers will be glad to see the DOL is starting to signal a delay in the applicability date of the full new fiduciary rule and its prohibited transaction provisions.
August 9th, 2017
The denial of the class certification motion goes into some detail regarding what it takes to establish class standing under ERISA.
August 4th, 2017
In general, if a covered service provider will continue after the fiduciary rule to provide services only in a non-fiduciary capacity, or has already effectively disclosed investment advice fiduciary status, no additional disclosure would be required under the 408b(2) regulation.
August 1st, 2017
Several states are in the process of debating and potentially adopting
their own legislation relating to the fiduciary responsibilities of
broker/dealers and investment advisers.
July 31st, 2017
At least one judge on the three-judge panel that has been assigned to the case seemed to have little sympathy for the basic strokes of the DOL’s arguments.
July 24th, 2017
The DOL is still seeking information from DC industry providers and stakeholders regarding potential new and amended administrative class exemptions from the prohibited transaction provisions of ERISA.
July 19th, 2017
The Affordable Retirement Advice for Savers Act seeks to repeal the fiduciary rule and clarify what should and should not be considered fiduciary advice in the retirement planning context.
July 3rd, 2017
Because revenue-sharing payments are asset based in the plan, plaintiffs argue, “they bear no relation to a reasonable recordkeeping fee and can provide excessive compensation.”
June 30th, 2017
The request for information asks whether provisions of the rule already in place should be delayed further.
June 29th, 2017
In addition, Acosta said the DOL’s budget proposal funds an effort to improve ERISA disclosures to retirement plan participants.
June 15th, 2017
While HSAs aren’t traditionally thought of as a retirement vehicle, the DOL broadened the scope of conflict of interest rules to include these plans due to their long-term savings and investment aspects.
June 2nd, 2017
The new SEC Chair is calling on retirement industry stakeholders to weigh in on whether the DOL fiduciary rule is helpful or harmful.
May 24th, 2017
Plan sponsors are reminded of the rule's provisions regarding education.
May 23rd, 2017
Providers will have to begin complying with provisions of the new DOL fiduciary rule starting June 9, 2017.