Retirement Plan Sponsors and Providers Given Relief by DOL Due to Hurricanes
The DOL relief relates to plan loans and distributions, remittance of contributions and blackout period notices.
Tag: EBSA
ERISA Attorneys Interpret DOL MEP Regulations
Industry stakeholders disappointed the proposal does not address open MEPs can take heart in the fact that DOL staff are...
EBSA Secures ERISA Settlement from Neuroscience Center
The plan’s sole fiduciary and trustee has agreed to restore pension assets that, according to an EBSA investigation, were improperly...
DOL’s Open MEP Proposal Advances Through OMB
If the DOL’s proposal closely follows President Trump’s executive orders, it is likely to revise the “common nexus” and “one...
Business Owner Gets Prison for Benefit Plan Embezzlement
A DOL investigation found the business owner used benefit plan contributions for corporate and personal expenses.
Litigators Not the Only Ones Looking Into Retirement Plan Investments and Fees
The EBSA’s Plan Investment Conflicts (PIC) project have reviewed conflicts of interest of fiduciary service providers and investment managers of...
DOL Appoints Independent Fiduciary to Abandoned Plan
Fiduciaries of the Sacred Heart Hospital Profit-Sharing 401(k) Plan failed to administer the plan after the hospital operations ceased in...
Business Owner to Serve Prison Time for 401(k) Plan Embezzlement
A multi-agency investigation found that from approximately May 2011 through August 2012, the business owner unlawfully embezzled and converted approximately...
Court Orders Independent Plan Fiduciary for Cambridge Technology Group
The DOL found the company's president and CEO did not process any distribution requests submitted by 401(k) plan participants, among...
DOL’s ESG Investing Bulletin Raises Important Questions for Plan Fiduciaries
Given some of the strong language used to warn retirement plan fiduciaries against placing other interests ahead of the financial...
401(k) Plan Trustees Ordered to Pay Back Misused Funds
A DOL investigation found the trustees used plan assets for businesses and properties owned by themselves and family members.
Judge Rules on DOL ESOP Challenge with Mixed Results
The mixed decision comes after DOL moved for summary judgement; the defendants responded by moving to exclude key testimony from...
DOL Announces Fiduciary Seminar in New York City
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
DOL Announces Fiduciary Seminar in Rhode Island
The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
Former CEO of Pharmaceutical Benefits Management Company Sentenced for Kickback Scheme
The CEO pled guilty last year for paying illegal kickbacks to producers in an effort to steer employee health benefit...
Pension Trustee Found Guilty of Theft
The trustee is ordered to pay $234,271 in restitution, serve a year of probation and be barred from serving as...
Employee Convicted of Embezzling $120K from 401(k) Plan
A former office manager of New England Anesthesiologists, Inc. has been sentenced to 37 months in federal prison and to...
Reports Suggest Massive Fraud in DOL Fiduciary Rule Commentary Process
So far, reporting seems to suggest that the numerous fraudulent comments submitted to DOL regarding the fiduciary rule were done...
New EBSA Leader Preston Rutledge Takes Up Trump Agenda
Following news of Preston Rutledge’s approval by the full Senate to head the Employee Benefits Security Administration, several retirement industry...
Multiemployer Plan Fund Manager Sentenced for Fund Theft
In addition to being barred as serving as a fiduciary for five years, the fund manager is ordered to make...