Tag: EBSA
DOL Proposes Abandoned Plan Use in Bankruptcy
The Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) proposed a rule to help Chapter 7 bankruptcy trustees distribute retirement plan assets.
Informational Form 5500s Released
Regulators released advance informational copies of the 2012 Form 5500 annual return/report and related instructions.
DOL Investigations of Service Providers
The Department of Labor (DOL) does not only investigate retirement plans, it also investigates service providers.
DOL Says Overvaluing Stock Led to ESOP Losses
The Department of Labor (DOL) filed a lawsuit against GreatBanc Trust Co. and Sierra Aluminum Co., alleging that stock overvaluations led to losses for Employee Stock Ownership Plan...
Plan Trustees Sentenced for Embezzling From 401(k)
Trustees of the Irotas Manufacturing Co. Inc. 401(k) plan have been sentenced for embezzling $487,000 from the plan, and have been ordered to pay restitution.
PANC 2012: The Future for Fiduciary Advisers
The Department of Labor’s (DOL’s) re-proposal of the definition of fiduciary is another indication that fiduciary responsibilities are increasing, and broker/dealers in particular could be impacted.
EBSA Releases 401(k) Fee Disclosure Web Resource
The Employee Benefits Security Administration (EBSA) launched a website that offers information about fee disclosures to help workers with defined contribution (DC) retirement plans.
PANC 2012: What's Happening at the DOL?
Brokerage windows should not be used to sidestep fee disclosure, a source from the Department of Labor (DOL) stressed.
How Well Do You Know Your B/D?
Do you really know how your broker/dealer makes money? If not, it’s time to learn before a Department of Labor (DOL) investigator knocks on your door.
Ill. Company to Restore $2.7M to 401(k)
A.B.D. Tank & Pump Co. in Elmhurst, Illinois, has been ordered to restore $2,767,051 to the company’s retirement plan.
trendspotting
DOL Issues FAQ for Participant Fee Disclosures
The Department of Labor (DOL) Employee Benefits Security Administration (EBSA) issued frequently asked questions about the requirements of new participant fee disclosure rules.
Five Attorneys Join Groom Law Group
Groom Law Group, Chartered, which focuses exclusively on employee benefits, hired five attorneys.
PSNC 2012: The New Fiduciary
Distinguishing between education and advice is among the most difficult issues when updating the definition of fiduciary, according to a Department of Labor (DOL) official.
Employer to Pay for Failing to Monitor RK Costs
A court found ABB Inc. and Fidelity breached some fiduciary duties owed to participants in ABB’s retirement plans.
DOL Urged to Allow Broader Use of Electronic Disclosures
A coalition of retirement plan trade associations is urging the U.S. Department of Labor (DOL) to permit broader use of electronic communications to deliver disclosures under the 408(b)(2)...
DoL Not Rushing on Fiduciary Definition Proposal
U.S. Department of Labor (DoL) Secretary Hilda L. Solis told lawmakers this week that the agency is not rushing on its re-proposal of a new definition of fiduciary.
DoL Announces Fiduciary Responsibilities Webcasts
The U.S. Department of Labor's Employee Benefits Security Administration announced two upcoming “Getting It Right – Know Your Fiduciary Responsibilities” webcasts.
EBSA to Host VFCP Advanced Workshop
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) is hosting a voluntary fiduciary correction program (VFCP) advanced workshop.
408(b)(2) Poses Concerns For B/Ds, Small-Plan Advisers
Some industry experts are concerned that covered service providers will misinterpret the Department of Labor’s (DoL) 408(b)(2) regulation guidance about using ranges to estimate indirect compensation.