News & Analysis as of

September and October 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more

DOL Hearings Debate “Fiduciary Duty” not “Suitability” Standard for Retirement Accounts

The U.S. Department of Labor (“DOL“) recently heard public comment to its proposed regulatory changes implementing a fiduciary duty on any individual receiving compensation for advice tailored to a plan sponsor, participant...more

Advisors Advantage - August 2015

How Retirement Plan Providers Can Avoid Communication Problems. It's all about relationships and communication. Life is all about relationships, whether it's family, friends, or business. Whether it's starting a...more

Employee Benefits Developments - June 2015

Supreme Court: Plan Fiduciaries Have a Continuing Duty to Monitor Plan Investments. In 2007, participants and beneficiaries under a 401(k) plan sued the plan fiduciaries and the plan sponsor to recover damages for alleged...more

July and August 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more

Advisors Advantage - July 2015

In This Issue: - How Retirement Plan Advisors Can Benefit From Any New DOL Fiduciary Rule - Avoid Other Providers Who Are The Sticks in the Wheels of Progress - Sometimes It's Just Words - Never...more

U.S. Department of Labor Re-Proposes Rules Governing the Definition of “Fiduciary”—Part 4: The Impact on 401(k) Plan Consultants...

This post highlights the significant impact the proposed regulations may have on advisers to mid-sized and small 401(k) retirement plans if adopted. Previously, Part 1, Part 2 and Part 3 of this series described the...more

Concerns Mount over Department of Labor’s Proposed Fiduciary Rule

The Department of Labor (“DOL”) released a controversial proposed rule on April 20, 2015, that seeks to expand fiduciary duties in the context of retirement-investment advice. Specifically, the proposed rule would rework a...more

Department of Labor proposes to expand the definition of fiduciary: top points

The US Department of Labor has issued proposed regulations that may have a significant effect on those who recommend or market investment products and services to employee benefit plans and individual retirement accounts. ...more

DOL Comment Period Extended

In an announcement that did not surprise me, The Department of Labor (DOL) has announced a brief extension of the comment period on its proposed fiduciary rule and set a date for a public hearing....more

U.S. Department of Labor Re-Proposes Rules Governing the Definition of “Fiduciary”: Part 1: The Rule and its Exceptions

The U.S. Department of Labor recently issued proposed regulations that make sweeping changes to the definition of the term “fiduciary” under the Employee Retirement Income Security Act (ERISA). To call this proposal...more

Take Two: DOL Reproposes Changes to Definition of Fiduciary for ERISA Plans and IRAs

This is the first in a series of client advisories regarding the Department of Labor’s re-proposed regulation on the definition of “fiduciary” under ERISA Section 3(21) and related proposed new and amended prohibited...more

Proposed Fiduciary Definition Regulations Will Impact Investment Adviser Practices

The U.S. Department of Labor (DOL) recently released long-awaited, re-proposed regulations that would broaden the “fiduciary” definition under the Employment Retirement Income Security Act (ERISA) and the Internal Revenue...more

Advisors Advantage - May 2015

In This Issue: - For Retirement Plan Providers, It's All About Making A Connection - DOL Proposes New Fiduciary Rule - My support for a Fiduciary Rule - Stick to what you know - Complacency is a plan provider...more

DOL: Proposed Expanded Definition of “Fiduciary”

Background - Section 3(21) of the Employee Retirement Income Security Act (“ERISA’) includes in the definition of a fiduciary someone who provides investment advice for a fee or other compensation, direct or indirect. ...more

Correcting Problems With Your Retirement Plan [Video]

Presented by Caryn McNeill, Craig Wheaton and Jamie Hinkle The rules that apply to qualified retirement plans are complex. Not surprisingly, plan sponsors determine with some regularity that their plans have a compliance...more

Employee Benefits: Who is a Fiduciary? DOL Proposal Expands Definition (4/15)

The U. S. Department of Labor (DOL) issued a regulation in 1975 defining the circumstances under which a person providing "investment advice" is to be treated as a fiduciary under the Employee Retirement Income Security Act...more

DOL Proposes to Revise Definition of “Fiduciary” Under ERISA

On April 20, the US Department of Labor (DOL) published a proposal to revise portions of the definition of a “fiduciary” under the Employee Retirement Income Security Act of 1974, as amended (ERISA) in the Federal Register....more

DOL Re-Proposes Rule to make Brokers, Others, ERISA Fiduciaries

After almost five years of debate, the U.S. Department of Labor (“DOL”) is again trying to modify the ERISA definition of “fiduciary” as it relates to providing investment advice. On April 14, 2015, DOL re-proposed rules (the...more

The Times are Changing: A First Look at the DOL’s New Fiduciary Paradigm

On April 14, 2015, the US Department of Labor (the “DOL”) issued its proposed rule clarifying when individuals and institutions providing advice to employee benefit plans and individual retirement accounts (“IRAs”) will be...more

New Fiduciary Regulations Require Retirement Investment Advisers to Act in Clients’ Best Interests

On April 14, 2015, the U.S. Department of Labor (DOL) issued new proposed regulations that changed the definition of “fiduciary investment advice” as currently found in DOL Regulation 2510.3-21(c). These proposed rules also...more

DOL Proposes Sweeping Expansion of Fiduciary-Duty Rules

Proposed new guidance from the U.S. Department of Labor (“DOL”) would significantly alter the regulation of investment advice to employee plans and IRAs. The guidance aims to reshape the marketplace for retirement-related...more

The DOL’s New Proposal on ERISA Fiduciary Status for Investment Advisers

Last week, the U.S. Department of Labor (DOL) issued its widely anticipated re-proposed rules for defining fiduciary status under the Employee Retirement Income Security Act of 1974 (ERISA) for providers of investment advice...more

The Worthlessness Of The 401(k) Fiduciary Warranty

I am a firm believer in the idea that what you see is what you should get. If you’re promised the moon, anything short of that is wrong. Some of the biggest disappointments in my life is when I was sold a bill of goods that...more

Labor Department Proposes Fiduciary Conflict of Interest Rules — Again

On April 14, 2015, the U.S. Department of Labor (DOL) reissued the long-awaited re-proposal of its regulation expanding the definition of "fiduciary" under the Employee Retirement Security Act of 1974, as amended (ERISA), and...more

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