News & Analysis as of

Retirement Plan Employee Retirement Income Security Act

DOL Fiduciary Rule Will Become Effective June 9, 2017 as Scheduled

by Reed Smith on

The DOL recently dashed all hope of a reprieve on the June 9, 2017 effective date of the DOL Fiduciary Rule and portions of related prohibited transactions, and provided additional guidance to fiduciaries for the transition...more

DOL Puts Advisers on Notice:  Fiduciary Rule Will Be Effective June 9th

On March 2, 2017, the DOL extended the applicability date of the Conflict of Interest Rule (the “Fiduciary Rule”) from April 10, 2017 to June 9, 2017. This week, with the extension drawing to a close, Secretary of Labor...more

Legal Costs Don’t Have To Be Staggering

by Ary Rosenbaum on

The cost of correcting plan errors can be expensive. It can be expensive through corrective contributions and it certainly can be expensive through legal costs....more

Fiduciary Rule to Go Into Effect but DOL Provides Temporary Non-Enforcement Policy

by Snell & Wilmer on

As reported in our April 18th blog, the Department of Labor (“DOL”) officially delayed the applicability of the Fiduciary Rule for 60 days, until June 9, 2017. Given the multiple delays leading up to the proposed June 9th...more

No Additional Delay on Effective Date of New Fiduciary Standards – DOL

This week, new U.S. Department of Labor Secretary Acosta announced that the final fiduciary regulations would go into effect on June 9, 2017. The Department also issued two pieces of guidance with regard to the regulations...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Several members of healthcare hedge fund Deerfield Mgmt have been implicated in an insider-trading case over the alleged use of confidential information about gov’t financing to trade shares in affected health care companies....more

Portions Of The DOL Fiduciary Rule To Go Forward On June 9, 2017

by SmithAmundsen LLC on

Secretary of Labor Alexander Acosta announced on Monday that portions of the controversial Department of Labor (DOL) fiduciary rule will go into effect as planned on June 9, 2017, with full implementation of the rule on...more

Applicability Date for DOL Conflict of Interest Rule is Looming

by Winstead PC on

As you may be aware, the Department of Labor’s (DOL’s) Conflict of Interest rule expands the scope of the definition of “fiduciary” under ERISA and the Code to cover more classes of financial advisers. While the final rule...more

Department of Labor Provides Guidance on Fiduciary Rule Transition Period

by Ropes & Gray LLP on

On May 22, 2017, the U.S. Department of Labor (the “DOL”) released a new set of FAQs confirming that the compliance date for the fiduciary rule will remain June 9, 2017 (with compliance required as of 11:59 PM on that date)...more

Will The Fiduciary Rule Live on Even if it is Repealed?

by Burr & Forman on

The Department of Labor fiduciary rule was supposed to be implemented on April 10, 2017. That date was pushed back to June 9 so that it could be reassessed, and possibly modified or even repealed. The rule as it stands...more

Senate Votes to Revoke Department of Labor Guidance on State-Run Retirement Plans for Private Sector Employees

by Franczek Radelet P.C. on

In yet another move to roll-back regulatory guidance issued during the Obama administration, earlier this month the U.S. Senate voted to revoke a final rule and associated interpretive guidance that the Department of Labor...more

Advisors Advantage - May 2017

by Ary Rosenbaum on

For Retirement Plan Providers, It's All About Relationships. That is what it's about. The retirement plan business is a relationship driven business. It's about connecting with other plan providers and more...more

Breach of Fiduciary Duty Case Against University Retirement Plan Fiduciaries Survives Motion to Dismiss

by Ballard Spahr LLP on

A plaintiffs' class action law firm in St. Louis made national headlines last August when it filed a series of breach of fiduciary duty lawsuits under ERISA, the federal employee benefits law, against the fiduciaries of...more

ERISA Fiduciary Standards Will Apply to IRAs Starting in June

by Hinshaw & Culbertson LLP on

On April 4, 2017 the U.S. Department of Labor issued an order effective April 9, 2017, stating that implementation of the so-called investor Fiduciary Rule applicable to Individual Retirement Accounts will go into effect June...more

Eighth Circuit Jimmies The Lid On Pandora’s Box

by Seyfarth Shaw LLP on

Seyfarth Synopsis: In an opinion that may result in increasingly complex ERISA benefits litigation, the Eighth Circuit has allowed a breach of fiduciary duty claim premised on alleged faulty claims handling practices to...more

What to Watch for From the New SEC Chairman

Last Thursday, Jay Clayton was officially sworn in as the new Chairman of the Securities and Exchange Commission. As the new Chairman takes office, here are a few things we’re keeping an eye on...more

Trying to Hit a Moving Target — Practical Advice for Mitigating Litigation Risk under the DOL Fiduciary Rule

by Reed Smith on

Over the past year, the Department of Labor’s new Fiduciary Rule and Prohibited Transaction Exemptions have been the subject of tremendous activity and media coverage. With the Trump administration, the future of the Rule has...more

The Rosenbaum Law Firm Review - April 2017

by Ary Rosenbaum on

The Wrong Reasons For Hiring 401(k) Plan Providers - Some really bad reasons that plan sponsors use in hiring plan providers. Selecting a retirement plan provider can be a lot like dating in the sense that plan...more

Claims Against Investment Adviser in ERISA Fee Litigation Case Dismissed

A federal district court in North Carolina dismissed claims by BB&T Corp.’s 401(k) plan participants that Cardinal Investment Advisors, LLC, the plan’s outside investment advisor, breached its ERISA fiduciary duties by...more

State-Run Retirement Plans – What Labor Allowed

by McDermott Will & Emery on

With approximately 68 million US employees without access to a retirement savings plan through an employer, there has been increased movement by states to sponsor retirement type arrangements for private sector employees....more

DOL's Fiduciary Rule Delay an Excellent Opportunity to Negotiate Stronger Indemnities

The DOL's fiduciary rule has been delayed. This delay, and the confusion swirling around if and when the DOL fiduciary rule will become applicable, is giving plan sponsors a window of time to renegotiate their contractual...more

Fiduciary Rule Delayed 60 Days - DOL delays application of Fiduciary rule. ERISA plan fiduciaries and service providers struggle...

On April 7, 2017, the Department of Labor (DOL) published a final rule delaying the applicability date of the “Fiduciary” rule and certain “Prohibited Transaction Exemption” rules (the Rules) for 60 days from April 10, 2017...more

IRS takes a look at Cash Balance Formulas for Funny Business

by Ary Rosenbaum on

Throughout my career as an ERISA attorney, I’ve come across actuarial third party recordkeeping firms that push the envelope in cash balance and defined benefit plan designs. I can’t forget the actuaries who still push for...more

Sixth Circuit Dismisses ERISA Stock Drop Action Against Cliffs Natural Resources

The Sixth Circuit affirmed the dismissal of ERISA stock drop claims by participants in the Cliffs Natural Resources’ 401(k) Plan. The participants alleged fiduciary breach claims based on public and non-public information...more

Company Liable for Not Providing Accurate Information about Benefits

by Dickinson Wright on

A recent court case, Erwood vs Life Insurance Company of North America, is a reminder that plan sponsors must understand the terms of their welfare and retirement benefit plans, and ensure that their staff follows the...more

620 Results
|
View per page
Page: of 25
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
Feedback? Tell us what you think of the new jdsupra.com!