Retirement Plan Employee Retirement Income Security Act

News & Analysis as of

Advisors Advantage - May 2016

The Struggles Of Being A Retirement Plan Provider And How To Manage It. What you have to deal with. Any good retirement plan financial advisor will tell you that relationships in the retirement plan business mean...more

DOL issues final fiduciary rule defining "investment advice" under erisa and the code

New Rule Introduces Significant Changes to Fiduciary Advice Definition, Revises Existing Prohibited Transaction Exemptions, and Creates New Prohibited Transaction Exemptions. On April 6, 2016, the U.S. Department of...more

US Department of Labor’s Fiduciary Rule Introduces a Brave New World

Final rule reflects some concessions, but its broad scope and compliance costs will cause financial services advisers to re-evaluate their business models. On April 6, 2016, the US Department of Labor (the DOL) released...more

Structured Thoughts: News for the financial services community, Special Issue: Implications of the DOL Fiduciary Rule for...

On April 6, 2016, the Department of Labor (“DOL”) issued its final conflict of interest regulations, which significantly expand who is considered a fiduciary when dealing with a retirement account. The new regulations,...more

Employee Benefits: ERISA Spring Cleaning - Have You Properly Identified All of Your ERISA Benefits? (5/16)

Why Is It Important To Properly Identify All of Your ERISA Benefits? The Employee Retirement Income Security Act ("ERISA") imposes numerous requirements on covered employee benefit plans, including annual report...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

DOL Releases Final Regulations to Expand ERISA ‘Fiduciary’ Definition

In Depth - After more than five years of development and revision, the US Department of Labor (DOL) released final regulations to redefine 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

Employee Benefits Developments - April 2016

Stock Drop Case Update: Settlement Reached in Dudenhoeffer Case; Dismissal of Lehman Brothers Lawsuit Upheld. Two recent developments in stock drop litigation are worth noting: Dudenhoeffer Settlement. In Fifth Third...more

New Treasury Regulations Impose Heightened Standards for Retirement Fund Advisors

Financial advisors and financial services firms are facing new scrutiny, as indicated by a recent rule change by the U.S. Labor Department. In early April 2016, the U.S. Labor Department issued new regulations requiring that...more

Keeping Your (Top) Hat On

“Top hat” plans are plans employers maintain for a “select group of management or highly compensated employees.” These plans are exempt from many of ERISA’s protections, including eligibility, vesting, fiduciary...more

What Constitutes “Reasonable Efforts” to Inform Plan Participants of Plan Amendments, Which Include a Forum Selection Clause?

You know that many Plans have forum selection clauses. Are they enforceable? YES When a Plan participant claims they “did not know of a plan amendment,” how do you prove the Participant received notice of the...more

DOL Finalizes The ERISA Fiduciary Regulation -- What It Means For Your Business

In the face of controversy and following thousands of comments from market participants and lawmakers, the Department of Labor (“DOL”) has finalized sweeping changes to the definition of “fiduciary” under the Employee...more

The DOL's New Fiduciary Rules for Retirement Investment Advice

After years of debate and speculation, the U.S. Department of Labor (DOL) issued its final package of rules to regulate individuals and entities that provide investment advice to retirement plans and IRA investors. The DOL’s...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

"Labor Department Redefines ‘Fiduciary’ for ERISA and Internal Revenue Code Purposes"

On April 6, 2016, the Department of Labor (DOL) issued a widely anticipated final regulation that redefines who is a “fiduciary” of certain employee benefit and other plans for purposes of the Employee Retirement Income...more

“Best Interests” of Investors and Employees

Ima Knowitall, owner of All My Business Ideas (AMBI), just read the Wall Street Journal article on new Department of Labor (DOL) regulations and called her financial advisor, Phillip Coffers. Mindful of last fall’s Tilting...more

News Alert – 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

Education or Advice: The DOL Final Definition of Fiduciary; Conflict of Interest Rule

Earlier this month, the Department of Labor finally released the long-awaited “Definition of Fiduciary; Conflict of Interest Rule.” This blog post is intended to do two things...more

Negotiating Cybersecurity Contractual Protections for Retirement Plans

The ERISA Advisory Council1 recently announced that, as part of its goals for 2016, it will be focusing on cybersecurity issues affecting retirement plans and, in particular, the extent to which such issues relate to...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

Wisconsin Broker-Dealers Will Owe Fiduciary Duties for Retirement Investment Advice

Wisconsin is home to over 10,000 registered broker-dealers, all of whom currently operate without owing federally imposed fiduciary duties. Unlike some of their peers in other states, Wisconsin broker-dealers generally do not...more

U.S. Department of Labor Finalizes Fiduciary Definition and Conflict of Interest Rule

On April 6, 2015, the U.S. Department of Labor (Department) issued its highly anticipated final rule addressing when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA)...more

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