Survey Suggests Small-Balance Retirement Savers Hurt by Fiduciary Rule
FSR says, “access to investment services for investors with modest-sized and small account balances has been, and will continue to...
Tag: Fiduciary
DOL Signals Extension of Fiduciary Rule Transition Period
Many retirement industry providers will be glad to see the DOL is starting to signal a delay in the applicability...
Participant Fails to Establish Class Status in Prudential Lawsuit
The denial of the class certification motion goes into some detail regarding what it takes to establish class standing under...
Target Prevails in ERISA Stock Drop Suit
The plaintiffs failed to meet pleading standards set forth in Fifth Third v. Dudenhoeffer, a court ruled.
Providers Voice Concern About Fiduciary Rule Product Disruption
There were thousands of new comments submitted on the fiduciary rule RFI by a variety of parties, from concerned individual...
DOL Fiduciary Rule FAQ Further Clarifies Compliance Demands
In general, if a covered service provider will continue after the fiduciary rule to provide services only in a non-fiduciary...
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Investment Consultant Launches 401(k) Solution for Small Employers
DiMeo Schneider will be a 3(38) fiduciary investment manager for the program.
States Taking Fiduciary Reforms Into Their Own Hands
Several states are in the process of debating and potentially adopting their own legislation relating to the fiduciary responsibilities of...
Court Orders American Century to Produce Reports for Self-Dealing Suit
American Century must produce profitability, expense and performance reports created under provisions of the Investment Company Act for all the...
5th Circuit Hears Latest Round of Fiduciary Rule Arguments
At least one judge on the three-judge panel that has been assigned to the case seemed to have little sympathy...
DC Industry Providers Voice Fiduciary Rule Frustration
The DOL is still seeking information from DC industry providers and stakeholders regarding potential new and amended administrative class exemptions...
Another House Committee Considers Fiduciary Reforms
The Affordable Retirement Advice for Savers Act seeks to repeal the fiduciary rule and clarify what should and should not...
ERISA Suit Challenging Voya Stable Value Funds Rejected
The lawsuit unsuccessfully alleged Voya does not disclose to its retirement plan clients and their respective participants the amount of...
Stiff Prison Sentence After EBSA Fraud Investigation
EBSA says investors’ dollars, including ERISA-covered assets, were diverted to pay for home renovations, personal credit card payments and mortgage...
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dailyVest Launches DC Plan Health Tool
The new tool from dailyVest will provide plan sponsors with the ability to manage plan health, help improve employees’ financial...
MFS Accused of Engaging in Prohibited Transactions in 401(k)s
A lawsuit claims MFS used its 401(k) plans “as an opportunity to promote MFS’s mutual fund business and maximize profits...
American Airlines Agrees to Settle Proprietary Funds Lawsuit
The gross settlement amount is $22 million.
Brown University Faces Familiar Allegations in 403(b) Lawsuit
Individual annuity contracts and a large plan investment lineup are targets in the Brown University lawsuit, just as they are...
DOL Brief Defends Fiduciary Rule Despite Ongoing Review
Long-term, DOL staff is concerned about maintaining the department’s broad litigation and enforcement capabilities in the retirement plan services marketplace.
ERISA Suit Questions Money Market Performance, Recordkeeping Fees
Because revenue-sharing payments are asset based in the plan, plaintiffs argue, “they bear no relation to a reasonable recordkeeping fee...