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DOL Regulation on State-Run Plans at OMB
State-run retirement programs for the private sector – and those who might be affected by them – could soon get some additional clarity from the Labor Department. That would come via the final Labor...
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Stable Value Fees Again Draw Excessive Fee Suit
While a number of recent excessive fee suits have challenged the lack of a stable value offering, a new suit is challenging the fees charged by a stable value fund provider. In this case, a participant...
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DOL Exempts Certain State-Run Plans From ERISA
State plans for private-sector workers are granted ‘safe harbor’ despite retirement industry concerns. On Aug. 25, 2016, the US Department of Labor (DOL) issued final regulations that exempt state-run...
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Case of the Week: What Standards Apply for Form 5500 Audits?
The ERISA consultants at the Learning Center Resource Desk, which is available through Columbia Threadneedle Investments, regularly receive calls from financial advisors on a broad array of technical...
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Form 5500 Gets a Makeover: What Does This Mean for Plan Sponsors?
On July 21, 2016, the Department of Labor (DOL) issued proposed amendments to the 5500 series forms in a “Notice of Proposed Forms Revisions,” prepared jointly by three agencies: the DOL, the Internal...
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Congress Moves to Roll Back Safe Harbor for Municipal, County Auto-IRA Plans
The U.S. Senate has passed, by a vote of 50-49, a Congressional Review Act resolution that would block the Obama-era DOL’s rule that defined the terms under which cities and counties could create IRA...
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House Panel Approves Bill That Would Repeal Fiduciary Rule
The House Financial Services Committee approved legislation May 4 that would rein in the Consumer Financial Protection Bureau and provisions of Dodd-Frank, and repeal the Labor Department’s fiduciary...
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Judge Rejects Class Action in Stable Value Suit
A stable value fund provider has managed to stave off a potential class action alleging that it earned undisclosed profits from its guaranteed investment offerings. The suit, Wood v. Prudential Ret....
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RICO Suit Filed Against Advice Program Administrators
A complaint seeking class action status alleges that an investment advice platform steered participants into high-cost retirement funds that paid excessive fees and revenue-sharing “kickbacks.” The...
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DOL, Thrivent Remain at Odds in Fiduciary Litigation
The fiduciary regulation’s anti-arbitration clause might not yet be active, and it might ultimately be moot, but as it remains on the table – well, the parties still can’t agree on a resolution,...
View ArticleClik here to view.
Case of the Week: What Standards Apply for Form 5500 Audits?
The ERISA consultants at the Learning Center Resource Desk, which is available through Columbia Threadneedle Investments, regularly receive calls from financial advisors on a broad array of technical...
View ArticleClik here to view.
Form 5500 Gets a Makeover: What Does This Mean for Plan Sponsors?
On July 21, 2016, the Department of Labor (DOL) issued proposed amendments to the 5500 series forms in a “Notice of Proposed Forms Revisions,” prepared jointly by three agencies: the DOL, the Internal...
View ArticleClik here to view.
Congress Moves to Roll Back Safe Harbor for Municipal, County Auto-IRA Plans
The U.S. Senate has passed, by a vote of 50-49, a Congressional Review Act resolution that would block the Obama-era DOL’s rule that defined the terms under which cities and counties could create IRA...
View ArticleClik here to view.
House Panel Approves Bill That Would Repeal Fiduciary Rule
The House Financial Services Committee approved legislation May 4 that would rein in the Consumer Financial Protection Bureau and provisions of Dodd-Frank, and repeal the Labor Department’s fiduciary...
View ArticleClik here to view.
Judge Rejects Class Action in Stable Value Suit
A stable value fund provider has managed to stave off a potential class action alleging that it earned undisclosed profits from its guaranteed investment offerings. The suit, Wood v. Prudential Ret....
View ArticleClik here to view.
RICO Suit Filed Against Advice Program Administrators
A complaint seeking class action status alleges that an investment advice platform steered participants into high-cost retirement funds that paid excessive fees and revenue-sharing “kickbacks.” The...
View ArticleClik here to view.
DOL, Thrivent Remain at Odds in Fiduciary Litigation
The fiduciary regulation’s anti-arbitration clause might not yet be active, and it might ultimately be moot, but as it remains on the table – well, the parties still can’t agree on a resolution,...
View ArticleClik here to view.
First Judgment Handed Down in Vantage Benefits Suits
Last fall the Federal Bureau of Investigation raided the offices of Vantage Benefits Administrators “amid concerns that money may be missing from retirement accounts the company manages.” Lawsuits...
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‘Missing’ Inaction
While it’s hardly a new topic, the subject of missing participants is much in the news today – and arguably a growing concern for plan sponsors, particularly with the expansion of automatic enrollment....
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TPA Theft Suit Adds Another Party
A suit against third-party administrator Vantage Benefit Administrators has been amended to include another party alleged to be complicit in the theft of money from a number of retirement plans. Last...
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