DOL Secures Settlement Over Improper Asset Liquidation
A Chicago-based ophthalmologist was accused by the DOL of improperly diverting money from a DB plan’s investment accounts.
Tag: ERISA
Consultants Reflect on Fiduciary Rule Progress
Consultants from Grant Thornton suggest they have already seen strong business impacts coming out of the DOL fiduciary rule.
Investment Industry Must Double Down on Fairness and Transparency
In the retirement planning and investment industry of the near- and long-term future, providers’ motivations will play a deep role in determining success.
Advisers Looking to Technical Solutions Ahead of DOL Rule
A new survey finds that as implementation of the DOL’s fiduciary rule approaches, more than half of advisers expect to increase investment in client service and compliance technology.
'Church Plan' Cases to Be Heard by Supreme Court
The cases for which petitions for writs of certiorari were granted include Dignity Health v. Rollins, Saint Peter’s Healthcare System v. Kaplan and Advocate Health Care Network v....
Wells Fargo Self-Dealing Suit Questions Committee Practices
The latest example of retirement plan fee litigation questions the offering of an “easy enrollment” function that favored investment into the company’s own TDF mutual funds.
Investment in Sequoia Fund Target of Another Retirement Plan Suit
The lawsuit claims retirement plan fiduciaries breached their ERISA duties by continuing to offer the fund, because it was not diversified.
Capital One Eliminates Commission-Based IRAs
As the implementation date for the Department of Labor (DOL)’s Conflict of Interest rule approaches, Capital One Investing will be moving away from commission-based products within its retirement-account...
Second Suit Targets Edward Jones Over Self-Dealing Claims
Edward Jones is being accused by another set of plaintiffs of favoring the investments of its “preferred partners” in its 401(k) plan, enriching the firm at the expense...
Recordkeeper Not Liable for 401(k)'s Failure to Provide Financial Audit
In addition to imposing penalties for failure to provide requested plan documents to a 401(k) participant, a federal district court found the plan filed a simplified Form 5500...
Financial Engines and Xerox Questioned in ERISA Suit
The latest ERISA lawsuit to be filed targets Xerox and Financial Engines for advice arrangements negotiated between the firms and several Ford Motor Company retirement plans.
JP Morgan Chase Latest to Cut Commission-Based Retirement Accounts
Reuters broke the news that JP Morgan Chase and Co. will stop offering commission-based retirement accounts prior to the DOL fiduciary rule implementation.
Robo-Advisers as Fiduciaries Present Challenges and Opportunities
As Baby Boomers push closer to retirement, they are facing a drastically different investing world than the one they grew up in—gaining access to radically different approaches to...
Plan Document Best Practices Framework
A new analysis contends that, with careful governance practices in place, managing a compliant and effective retirement plan doesn’t have to be burdensome or even difficult.
DOL Fiduciary Rule Posts a Key Victory in District Court
A U.S. district court judge has ruled in favor of the DOL fiduciary rule’s pending implementation, defeating fixed-indexed annuity providers’ effort to stall the groundbreaking regulation in court.
Measured Use of 12b-1 Fees Will Continue
Advisers will certainly have heard questions from clients about the use of 12b-1 fees moving forward under the new DOL fiduciary rule; what are the experts saying?
Sister Broker/Dealers Launch DOL Compliance Program
In light of the DOL fiduciary rule, the two firms plan to roll out a series of new compliance tools and initiatives including a Product Mix Transition Calculator...
Informational Copies of 2016 Form 5500 Released
The “Changes to Note” section of the 2016 instructions highlight important modifications to the Form 5500 and Form 5500-SF and their schedules and instructions.