Retirement Plan Fiduciary Duty

News & Analysis as of

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

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

The Vagueness of the Best Interest Exemption

One of the interesting points of the new fiduciary rule is the best interest exemption that is intended to stop conflicts of interests especially for brokers who need to meet a new fiduciary standard. As long as a broker...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

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

What Employers Need To Know About the DOL Fiduciary Regulations

By now, you may have heard that the Department of Labor (DOL) has expanded fiduciary status for certain investment advisers to retirement plans or IRAs. Some of your providers are already fiduciaries, but some will now be...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

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

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

"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

District Court Applies Dudenhoeffer “More Harm Than Good” Standard to Closely-Held Corporation

A federal district court in Mississippi ruled for the first time that the “more harm than good” pleading standard established by the Supreme Court in Fifth Third Bancorp v. Dudenhoeffer, 134 S. Ct. 2459 (2014), applied to...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

The Wait Is Over – the DOL Announces New Rules Impacting Broker Regulation

The Department of Labor recently enacted rules that require financial advisers and brokers handling individual retirement and 401(k) accounts to act in the best interests of their clients. The much-anticipated rules have...more

Much-Anticipated Fiduciary Rule Presents New Challenges to Financial Services Industry

The U.S. Department of Labor released its long anticipated "fiduciary rule" on April 6, 2016. The rule requires brokers and financial advisers to put their clients' interests ahead of their own when recommending retirement...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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