Compliance

LandAmerica Financial Group will pay $5 million to settle claims it held company stock in its 401(k) plan when it was imprudent to do so.

The Department of Labor is hosting educational seminars during May and June that can help plan sponsor clients better understand their roles and responsibilities as retirement plan fiduciaries.

Andrew Bowden, director of the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC), will leave the agency.

Significant retirement industry attention is fixed on the potential negative implications of a stronger fiduciary standard, but some advisers are actually looking forward to the new rulemaking.

The IRS encourages plan sponsors to include completed reference lists with determination letter applications.

The DOL sued retirement plan fiduciaries in Connecticut for failing to forward contributions and loan repayments withheld from participants’ paychecks as required by ERISA.

New safe harbor correction methods related to automatic enrollment features in defined contribution plans are being implemented by the Internal Revenue Service.

Retirement plan sponsors that omit any steps in the voluntary compliance process must reapply for the IRS program and pay a fee.

Do your retirement plan sponsor clients know it is up to them to track loans and hardship withdrawals?

OMB approval for collection of information about service provider fees and conflicts of interest expires today.

The Internal Revenue Service (IRS) has announced modifications to Revenue Procedure 2013-12 to make miscellaneous changes designed to...

Retirement industry advocates sent a letter to the SEC arguing fee disclosures regulations would also benefit participants of non-ERISA retirement plans.

A federal appellate court found a plan administrator cannot change the calculation of early retirement benefits for participants who terminated under an old version of the plan document.

The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) extend approval of two collections of information under PBGC’s regulation for reportable...

New York City Comptroller Scott Stringer has proposed a state law requiring financial advisers to disclose whether they put their own financial interests ahead of their clients’ needs.

Ameriprise Financial has agreed to settle a closely watched Employee Retirement Income Security Act (ERISA) suit, Krueger v. Ameriprise Financial, for $27.5 million in plan reimbursements and remedies.

A federal district court has ruled float income is not a retirement plan asset belonging to participants.

A report from Democratic staff of the U.S. Senate Committee on Finance says nonqualified deferred compensation (NQDC) plans are a "tax avoidance" strategy and raise a number of...

A pension plan participant who claims he didn’t receive promised credit for service can proceed with his lawsuit. 

The Securities and Exchange Commission has signaled it could move sooner rather than later on its own changes to investment advice and conflict of interest rules.