Sen. Warren Says Annuity ‘Perks and Kickbacks’ Rampant
Senator Elizabeth Warren issued a report about collusion between the annuity and advisory industries that is nothing short of scathing.
Tag: Fiduciary
Current Focus of the DOL
Phyllis Borzi revealed some of the thoughts behind certain DOL initiatives, and asked for help from the industry.
Perez Speech Hints at DOL Fiduciary Flexibility
Speaking at a Brookings Institution public meeting, U.S. Secretary of Labor Thomas Perez said he is “confident we will be...
Participants Sue Allianz Retirement Plan Fiduciaries
A lawsuit filed by two participants in an Allianz retirement plan claims the company and its asset management partners, including...
Lawmakers Want a Review of Fiduciary Rule Changes
In a letter to the DOL, members of Congress ask that changes made to the proposed fiduciary rule be submitted...
Credit Suisse Can Continue Managing Retirement Plan Assets
The bank, which pled guilty to criminal charges last year, applied for an exemption that would enable it to keep...
House Committee Vote Snubs DOL Fiduciary Proposal
The Republican-controlled House Financial Services Committee approved H.R. 1090, the “Retail Investor Protection Act,” for potential consideration by the floor.
Is Your Plan Adviser Helping You with Compliance?
Retirement plan sponsors are usually not experts in compliance, while advisers and consultants are, so sponsors may want to rethink...
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Privacy and Security Information Added to Fiduciary Guide
ERISApedia.com’s The Fiduciary responsibility eSource now includes a discussion or privacy and security issues.
Legislators Hear Arguments About Fiduciary Reform
Hearings before two House Financial Services subcommittees add more commentary to the debate about the DOL's proposed fiduciary rule.
Misconceptions Fog Fiduciary Rule’s Upside
The proposed fiduciary rule would protect investors with slender assets in rollovers, DOL says.
DOL Accuses ESOP Fiduciaries of Prohibited Transactions
A lawsuit says BAT Masonry was valued at $13 million less than what its ESOP paid for company stock.
DOL Seeks More than $1.6M in Losses for Profit Sharing Plan
A health care company filed no annual reports, did not perform valuations and took more than $1.6 million in improper...
Court Affirms Dismissal of Verizon Pension Risk Transfer Suit
An appellate court ruled that the decisions to amend the plan and transfer certain assets to an annuity contract were...
DOL Says Company Kept Employee 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Trial Date Set for Boeing 401(k) Fee Case
Plaintiffs in the case allege that Boeing breached ERISA fiduciary duties by permitting excessive fees to be charged to 401(k)...
Investment Manager Held Liable for Not Diversifying Plan Assets
Fiduciaries should do everything possible to overcome perceived impediments to diversifying retirement plan assets, a judge found.
DOL Stands Firm on Fiduciary Rule Despite Negative Comments
With hearings ongoing in Washington, Labor Secretary Perez underscores commitment to fiduciary rule change in letter to federal lawmakers.
Fiduciary Rule Hearings Kick Off in Washington
There is perhaps no better venue than a marathon Labor Department hearing to show what practices and beliefs most divide...
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Wells Fargo Will Offer Financial Engines Advisory Services
Major retirement plan recordkeeper reaches agreement to deliver independent advisory services via Financial Engines.