DOL Finalizes Regulations to Extend Small Business Access to Health Plans
However, the Trump administration has already been threatened with a lawsuit over the regulation.
Compliance
PSNC 2018: Best Practices to Protect Yourself and Your Company from Fiduciary Liability Lawsuits
Having prudent processes in place when making plan decisions is of utmost importance, and if a plan sponsor gets sued, having fiduciary liability insurance can be a big...
DOL Assists Custodians With Cleaning Out Abandoned Plans
When a plan is abandoned, custodians are left holding the assets of the plan, but lack the authority to terminate the plan and to distribute the plan's benefits...
Non-ERISA 403(b)s Could Be Affected by SEC Conflict of Interest Proposal
The Wagner Law Group says non-ERISA 403(b) plans may satisfy the definition of “retail customer” in the Securities and Exchange Commission’s (SEC)’s Regulation: Best Interest section of its...
Long-Term Loans Seen As Solution for Multiemployer Pension Crisis
Senator Sherrod Brown calls it imperative "to find a bipartisan solution to the crisis threatening 1.3 million Americans."
PSNC 2018: Fiduciary Services and Support
Understanding the opportunities associated with 3(21) and 3(38) fiduciary services—and the key differences between them—can help ensure the best use of the retirement plan committee’s time and resources.
PSNC 2018: Washington Update
Plan sponsors can anticipate additional guidance and legislation on a number of retirement plan issues.
SEC Finds Merrill Lynch Traders Overcharged for RMBS
The brokerage firm will pay more than $15 million in settlement.
Oregon Halts Move to Public DC Participant Investment Choice
A review found that a bill allowing employees who participate in the state’s individual account plan to select their own investments would violate the state’s legal and fiduciary...
Appellate Court Rejects Bank of America Participants’ Claim for More Relief
Noting that the bank already made restitution to the participants under an IRS closing agreement, the 4th Circuit agreed with a lower court that the bank did not...
Deutsche Bank Self-Dealing ERISA Suit Partly Dismissed
The mixed ruling grapples with binding circuit court guidance and reaches quite different conclusions regarding various allegations of prohibited transactions and fiduciary breaches.
SEC Seeks Comments on Fund Disclosures and the Fees Charged for Them
The agency also adopted a new rule allowing fund companies to share information via the Internet.
New Claim Added to Vanderbilt University 403(b) Plan Lawsuit
The new claim is related to the defendants’ alleged failure to protect plan assets by allowing third parties to market services to participants.
Invesco Accused of Self-Dealing in 401(k)
Plaintiffs allege the firm added poorly performing proprietary mutual funds to their plan.
Second Stock Drop Complaint Against Edison International Dismissed
A federal district court judge found that additional allegations that alternatives to continuing to offer the company stock would lead plan fiduciaries to find they would not do...
PBGC Report Shows Dire Status for Multiemployer Plan Insurance Program
The likelihood the program will remain solvent after FY 2026 is now less than 1%.
Taxpayer Association Seeks to Derail California Secure Choice
According to the text of the complaint, the act that created the California Secure Choice program “violates the Supremacy Clause of the United States Constitution because it is...
Compensation and Benefit Limits Affected by Short Plan Year
If a short plan year is created when a plan is amended, terminates or is newly adopted, proration of the Internal Revenue Code annual compensation dollar limit and...
Non-Electing Church Plans Subject to Some Pre-ERISA Requirements
Non-electing church plans are exempt from the Employee Retirement Income Security Act (ERISA) provisions pertaining to participation, coverage, and vesting; however, these plans are subject to the requirements...