Circuit Courts’ Conflict on DOL Fiduciary Rule Could Persist
The fact that two U.S. Circuit Courts of Appeals, the Fifth and the Tenth, have issued conflicting rulings about the propriety of...
Tag: Fiduciary
Circuit Court Ruling to Vacate DOL Fiduciary Extends Regulatory Uncertainty
In issuing a strong ruling to vacate the DOL fiduciary rule expansion, the Fifth U.S. Circuit Court of Appeals is...
State Authorities Launch Investigation of Wells Fargo Advisors
SEC-mandated regulatory filings from Wells Fargo Advisors have triggered state and federal inquiries into whether the firm’s advisers have made...
Connecticut State Treasurer Makes Compelling Case for ESG
An open letter penned by Connecticut State Treasurer Denise Nappier presents an articulate defense and endorsement of ESG investing programs—in...
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Fiduciary Advice Provider CAPTRUST Makes 3(38) Services a Big Focus
As one looks at retirement plans that have greater assets, the committee structure is more entrenched, which has slowed the...
Georgetown University Latest Collegiate Target of ERISA Litigation
Familiar allegations are leveled against Georgetown University in the latest example of defined contribution litigation to hit a big-ticket U.S....
Transamerica Requires TPAs for Small Plans, Reflecting Competitive Landscape
Our series of behind-the-scenes articles speaking with new and established retirement plan service providers about their biggest challenges and opportunities...
Plaintiffs Win Class Certification in NYU 403(b) Lawsuit
A district court found plaintiffs met the requirements of ERISA Rule 23(a) and the class is maintainable under at least...
DOL Reports Robust ERISA Enforcement in 2017
The Employee Benefits Security Administration (EBSA) restored more than $1.1 billion to retirement plans, health plans and other welfare benefit...
Dismissal of Capital Group Self-Dealing ERISA Challenge Offers Fiduciary Insight
With the new opinion, the district court seeks to make clear where the line is when it comes to pleading...
Ruling in Charles Schwab Self-Dealing Suit Suggests Limits of Arbitration Agreements
For one thing, a federal court judge found the defendants provide no authority supporting their contention that a plan document...
Fiduciary Questions Still Stymie In-Plan Income for Many Sponsors
Plan sponsors cite a number of reasons for being unlikely to offer an annuity-type product in the near term; top...
NYC Pension Fossil Fuel Divestment Sparks ‘Modern ESG’ Investing Debate
ACCF agrees theoretically with the possibility that environmental and social factors are materially important to institutional investments, instead accusing New...
Settlement Agreement May Conclude Allianz Self-Dealing Challenge
Along with non-monetary relief, Allianz will pay $12 million into a common fund for the benefit of class members, to...
Princeton University Lawsuit Stayed While 3rd Circuit Deliberates
On the motion for reconsideration of its previous choice to rule against summary dismissal, the court is quite skeptical. It...
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...
CalPERS’ Ongoing Push Into ESG Drives a Healthy Debate
The debate started when the American Council for Capital Formation published a sharply written report alleging that, as the group...
Delta Air Lines Excessive Fee ERISA Lawsuit Dismissed
Drawing on a number of recent decisions, the district court ruled the plaintiffs did not adequately describe how the offering...
Nonprofit Plan Sponsors Still Confused About Fee Levelization
Data shows about one-fourth of nonprofit plan sponsors are not aware of what comprises a formal fee policy statement, and...