DOL Issues RFI About Fiduciary Rule
The request for information asks whether provisions of the rule already in place should be delayed further.
Tag: Fiduciary
Asset-Based Fees Questioned in Nationwide ERISA Challenge
The text of the complaint takes a deep dive into the services generally provided by recordkeepers and administrators of ERISA...
Waddell & Reed Charged in 401(k) Self-Dealing Suit
The lawsuit claims fiduciaries of the Waddell & Reed 401(k) plan breached their fiduciary duties and engaged in prohibited transactions...
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Cafaro Greenleaf Launches Fiduciary Reporting System
The system will allow retirement plan fiduciaries to have access to the complete documented process of their investment selection and...
Washington University in St. Louis Faces Second 403(b) Lawsuit
The strongly worded complaint says the plan fiduciaries “utterly abdicated their fiduciary duties to act prudently and loyally” by turning...
Suit Challenging Voya’s Relationship With Financial Engines Dismissed
Voya Retirement Advisors was found not to be an ERISA fiduciary with respect to its compensation in an agreement with...
Court Rules for Putnam in Excessive Fee Suit
A district court ultimately found that since plaintiffs did not establish a case in which a particular fiduciary breach caused...
Sponsor Admits Embezzlement of Plan Dollars
The plan sponsor was criminally prosecuted and pled guilty to embezzlement in June 2016; she was ordered by EBSA to...
Sponsor Reaches Settlement Agreement with Merrill Lynch
Plaintiffs say the settlement agreement “provides an excellent recovery” for class members, paying them “100% of their losses.”
Smart Beta Seeks Next Generation TDFs
Asset managers are taking the next steps in TDF innovation and many are eyeing strategic beta for higher returns and...
Stock-Drop Lawsuit Alleges Disclosure Failures
Plaintiffs attempt in their complaint to establish that fraud was at least potentially occurring, and that this should have been...
Capital Group Faces Excessive Fee, Self-Dealing Suit
Capital Group is accused of selecting and retaining its own affiliated investments in its 401(k) plan to the benefit of...
Employers Must Assess HSA Fiduciary Exposure
While HSAs aren’t traditionally thought of as a retirement vehicle, the DOL broadened the scope of conflict of interest rules...
PSNC 2017: Learning From Litigation
It is not always possible, even for the most carefully run retirement plans, to avoid getting dragged into ERISA litigation,...
PSNC 2017: An Inside View of the DOL
The Department of Labor is still looking for ways to streamline and improve its new fiduciary rule, even though most...
FSI, ICI Laud Passage of Financial CHOICE Act
On Thursday, the House of Representatives passed a bill that would undo much of the Dodd-Frank Act’s regulations and the...
Chevron Wins Dismissal of Amended Complaint Regarding Fund Choices
A federal judge found plaintiffs failed to correct deficiencies in their original complaint, and a new claim of conflicts-of-interest was...
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Lincoln Offers 3(38) Investment Management to Plan Sponsors
The firm is offering Morningstar Investment Management LLC’s new flexible 3(38) fiduciary service to all of its retirement plan sponsor...
New Opportunity to Comment on Fiduciary Change
The new SEC Chair is calling on retirement industry stakeholders to weigh in on whether the DOL fiduciary rule is...
Self-Dealing Suit Against Wells Fargo Dismissed
A U.S. District Court Judge agreed with Wells Fargo that allegations that the bank breached its fiduciary duty by continuing...