Following previous failed attempts to expand the fiduciary liability of financial services providers, the DOL released a new rule that broadens the definition of “fiduciary” under ERISA. The new rule is expected to face...more
5/3/2024
/ 401k ,
Benefit Plan Sponsors ,
Compliance ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Duty of Care ,
Duty of Loyalty ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
Investment Management ,
Liability ,
New Regulations ,
Securities and Exchange Commission (SEC)
Employers have new opportunity to obtain IRS approval of individually designed plan documents.
Individually designed cash balance plans and other “statutory hybrid” pension plans can be submitted for IRS approval during...more
This is the second in a series of client advisories regarding the U.S. Department of Labor’s re-proposed regulations (Proposed Rule) defining who is a fiduciary under ERISA and the Code as a result of providing investment...more