Fiduciary Duty Benefit Plan Sponsors

News & Analysis as of

DOL Final Fiduciary Rule - What You Need to Know

On April 6, the Department of Labor released its long awaited final fiduciary rule, which expands the reach of ERISA's definition of "fiduciary" by redefining when a person is treated as rendering investment advice. Under the...more

DOL Issues Final Fiduciary Rule: How Does The New Definition Affect Plan Sponsors

On April 8, 2016, the Department of Labor (DOL) issued its final regulations significantly redefining the standards for determining when an adviser is a fiduciary under the Employee Retirement Income Security Act of 1974, as...more

Final DOL Fiduciary Rule – Q&As for Employers and Plan Sponsors on Investment Education

On April 6, 2015, the U.S. Department of Labor (Department) issued its final rule defining who is a fiduciary of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA) as a result of giving...more

The Rosenbaum Law Firm Review - May 2016

The New Fiduciary Rule: What It Means To Plan Sponsors - Bottom line: what does it mean? If you're a retirement plan sponsor and, unless you've been living under a rock, you've probably heard about the Department...more

DOL Fiduciary Regulations

The U.S. Department of Labor (DOL) earlier this month released final regulations which significantly expand the more than 40-year-old definition of who is a plan fiduciary under the Employee Retirement Income Security Act of...more

New PTEs Impact Broker’s and Advisor’s Relationship with Retirement Plans and IRAs and Also Impact Plan Sponsors and Fiduciaries

While only the plan service providers, like brokers, are required to comply with the requirements of the revised and new prohibited transaction class exemptions contained in the package with the definition of...more

The ERISA Litigation Newsletter - April 2016

Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

U.S. Department of Labor Issues Final Rule Redefining ERISA’s Definition of “Fiduciary” for Certain Types of Investment Advice

On April 6th, the U.S. Department of Labor (DOL) released a final rule (the “Fiduciary Rule”) that expands the types of retirement investment advice that will be subject to the fiduciary duty rules of the Employee Retirement...more

New Fiduciary Rule & Its Impact on Retirement Advice for Plan Sponsors

After much controversy and criticism, the Department of Labor (DOL) issued a final conflict of interest rule on April 6th (the “Final Rule”) which expands the definition of a fiduciary for an “employee benefit plan,” as...more

Employee Benefit Plans and Data Security Issues

In recent weeks, much of the discussion around a recent Supreme Court case, Gobeille, has focused on ERISA preemption. But for fiduciaries of benefit plans the case can serve as a reminder of important duties that often go...more

Employer Action Required Following Issuance of Final Rule

On April 8, 2016, the Department of Labor (DOL) released the much anticipated final regulation to broaden the scope of fiduciary status under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal...more

The DOL Fiduciary Definition Regulations are Here . . . Really They are Finally Here

Included in the definition of a fiduciary in Section 3(21) of the Employee Retirement Income Security Act (“ERISA”) is someone who provides investment advice for a fee. Regulations issued in 1975 by the U.S. Department of...more

Offering an education is a must for Advisors

I had a few advisors who asked me about offering investment education as it pertained to the fiduciary rule, but it’s clear that the Department of Labor wants it offered when it made a carve out to the final rule to allow for...more

Hold on to Your (Fiduciary) Hats: the Countdown to Compliance with the Department of Labor’s Final Fiduciary Rules Begins

After six years in the hopper, the Department of Labor finally issued final fiduciary regulations late last week that will greatly impact a wide variety of stakeholders. The Employee Retirement Income Security Act (ERISA)...more

What Plan Sponsors Need to Know About the New Fiduciary Regulation and Related PT Exemptions

What Plan Sponsors Need to Know Now - On April 5, 2016, the U.S. Department of Labor released a new definition of what constitutes a fiduciary to a retirement plan. While the new guidance clarified that certain...more

Department of Labor Issues Final Fiduciary Rule

The Department of Labor (DOL) has issued a final rule to re-define who is rendered a "fiduciary" of an employee benefit plan under the Employee Retirement Income Security Act (ERISA) by providing investment advice to a plan...more

The ERISA Litigation Newsletter - March 2016

Editor’s Overview - This month we review the U.S. Supreme Court’s decision in Montanile v. Board of Trustees of National Elevator Industries Health Benefit Plan where the Supreme Court considered the scope of...more

The Rosenbaum Law Firm Review - March 2016

Things About Plan Providers That Shouldn't Impress Plan Sponsors. Don't get bamboozled. There are certain things in life we really should be impressed by, but we always end up being impressed by the wrong...more

Benefits Litigation Update – Spring 2016

A Publication from Epstein Becker Green and The ERISA Industry Committee Epstein Becker Green and The ERISA Industry Committee (“ERIC”) are pleased to release the current issue of the Benefits Litigation Update...more

Don't Be a Target -- Retirement Plan Fees and Expenses

A rising number of challenges are being initiated by the plaintiffs’ bar and U.S. Department of Labor investigators in the area of retirement plan asset charges and retirement plan expenses. Some employers have had to pay...more

Pension Plan Sponsors Beware: The Department of Labor Is Investigating Plans That Fail to Locate and Pay Benefits to Terminated...

A Department of Labor (“DOL”) official recently disclosed a new DOL investigation initiative focusing on the adequacy of defined benefit plan procedures to locate and pay out benefits to terminated vested participants. The...more

Legal Perspectives on a “Game Changer” for Responsible Investment in the United States

The Principles for Responsible Investment (“PRI”) recently published a report, Addressing ESG Factors Under ERISA, that sets forth two legal perspectives on the ability of fiduciaries to consider environmental, social, and...more

Advisors Advantage - February 2016

Avoiding The “Bumps” Of Being A Retirement Plan Provider - I’m a big fan of business history and every successful company that has ever been founded has had a few bumps along the way. For example, Apple almost went out...more

The Rosenbaum Law Firm Review - January 2016

Future Trends In 401(k) That A Plan Sponsor Should Be Aware Of. Who to pick and why. What was good yesterday might not be good today. There were cigarette ads in the 1930s that suggested that smoking had health...more

A 401(k) with Vanguard funds is sued, read beyond the headline

Headlines are great, but you need to read the entire article to get the full picture. There is a new class-action lawsuit that is pitting participants in the Anthem Inc. 401(k) plan, with more than $5 billion in assets,...more

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