Improper ESOP Purchases Targeted by DOL
An EBSA investigation led to Gruber Systems Inc. having to repay more than $1 million in participant losses in the company’s employee stock ownership plan.
Compliance
Court Denies Motions to Dismiss in Fidelity, Putnam Fee Cases
Both excessive fee cases will move forward.
Some Claims Settled in RadioShack Stock Drop Case
The trustees named in a stock drop case have decided to settle, but the RadioShack plan sponsors aren’t conceding.
FINRA Releases Q&A About IRA Distributions
FINRA has published an investor alert about required minimum distributions in traditional IRAs.
Fiduciary Rule Will Affect Service to Plan Sponsor Clients
Participant education efforts are also impacted.
Fiduciary Rule Shows Washington Compromise Can Still Happen
More than a few industry insiders and analysts have tipped their hats to DOL and Labor Secretary Perez for listening carefully to criticism and reshaping some of the...
Early Fiduciary Rule Interpretation from ERISA Experts
ERISA experts warn that it will take some time to judge the final fiduciary rule published by the DOL, given the serious length and complexity of the rulemaking...
Most Reacting Positively to Fiduciary Rule
However, a few industry groups are still expressing concerns.
First Round of Industry Response to Final Fiduciary Rule
Some of the biggest financial services firms and advocacy groups have registered their initial impressions of the Department of Labor’s final fiduciary rule, including FSI, TIAA, FPC and...
Sec. Perez and Department of Labor Unveil Final Fiduciary Rule
Labor Secretary Thomas Perez stressed to reporters that changes made to the proposed version of the regulations will make the final fiduciary standard broader and stronger, “but absolutely...
Deadline Approaching for Pre-Approved Plan Restatements
The IRS is offering a new correction method for retirement plan sponsors that miss the deadline.
DOL Asks for Reversal of Dismissal of Fidelity Float Income Suit
In an amicus curiae brief, the agency details why it disagrees with a district court's findings.
State-Run Plans Will Struggle Without Aggressive Plan Design
TIAA government markets executive urges lawmakers and DOL to heed the financial services industry’s hard-earned lessons when implementing any state-run plans for private-sector workers.
Merrill Lynch Wins Dismissal of Excessive Fee Case
Merrill Lynch was not acting as a fiduciary under ERISA, a court found.
BP Deepwater Stock Drop Suit Gets DOL and SEC Consideration
The complicated litigation Whitley v. BP PLC is just the latest stock drop case to be impacted by the big-ticket Supreme Court decision in Dudenhoeffer v. Fifth Third...
ICI Questions Analysis Behind California Secure Choice Plan
Supporters say the California Secure Choice Retirement Savings Program will provide a voluntary, low-risk, auto-enrollment retirement savings plan for many uncovered workers in the state.
Tell the IRS What to Do Next
The IRS now and again seeks industry input on what tax guidance to issue next, via its Priority Guidance Plan program.
Court Approves Settlement in Fifth Third Stock Drop Suit
The case reached the Supreme Court, and set new standards of pleading for lawsuits against retirement plans that hold on to company stock.
DOL Secures Fiduciary to Distribute Nearly $1M to Participants
A now-defunct company failed to take the appropriate steps to terminate its 401(k) plan.
Another Review Doesn't Change Lehman Stock Drop Suit Result
The case was sent back through the courts following the U.S. Supreme Court's decision in Fifth Third v. Dudenhoeffer.