News & Analysis as of

Department of Labor (DOL) Revenue Sharing

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Revenue Sharing has been dying for years

Any article that states that revenue sharing has been declining in 401(k) plans is stating the obvious. Like with a dying business or organization, you can see it a mile away. Revenue sharing has been dying since the day that...more

McDermott Will & Emery

Oracle Granted Partial Summary Judgment in 401(k) Fees/Investment Option Case

McDermott Will & Emery on

The US District Court for the District of Colorado granted partial summary judgment to 401(k) fiduciaries, holding that ERISA’s six-year statute of repose barred some claims and rejecting challenges to the plan’s fees....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with shelf space payments

Fidelity is being sued and being investigated for shelf space payments they receive from mutual fund companies for room on their fund platform. They’re not the only provider to receive these fees and I find it totally...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sometimes, change is anyone’s guess

An advisor asked me a very interesting question that had me thinking: since a good chunk of what an advisor does is helping a plan sponsor minimize their fiduciary duty, is it a proper plan expense to use assets to pay for...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL puts out another Fiduciary FAQ

With an April 2017 deadline fast approaching, the Department of Labor (DOL) issues another frequently asked questions (FAQs) concerning the fiduciary rule which is always nice to get their interpretations of the rules with...more

K&L Gates LLP

ERISA Fiduciary Issues for Plan Sponsors: What Do 401(k) Plan Fiduciaries Need to Know About Revenue Sharing?

K&L Gates LLP on

Retirement plan revenue sharing has a bad reputation. Numerous lawsuits have been filed during the past year against employers that sponsor 401(k) plans alleging breach of fiduciary duty under the Employee Retirement Income...more

Proskauer Rose LLP

ERISA Litigation Newsletter - July 2016

Proskauer Rose LLP on

Editor's Overview - This month we take a look at the plaintiffs' past successes in fee litigations, and the influx of such lawsuits seeking to impose heightened fiduciary standards for 401(k) plans. Regardless of the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - August 2014

Dealing with adversity. It's about how you deal with it. I'm a huge Aerosmith fan since high school and it's because the music resonates with me because it reminds me of the experiences that I have gone through...more

Proskauer - Employee Benefits & Executive...

The Debate Continues Over The Fiduciary Status of 401(k) Plan Service Providers

In Golden Star Inc. v. MassMutual Life Ins. Co., 2014 WL 2117511 (D. Mass. May 20, 2014), a district court addressed two issues that have become hotly contested in 401(k) plan fee litigation: (1) whether and when a plan...more

King & Spalding

Fiduciary Implications of Revenue Sharing Arrangements

King & Spalding on

For years, 401(k) plan service providers have utilized revenue sharing arrangements to "share" in the revenue earned from plan investments as a source of compensation. Until recently, the U.S. Department of Labor ("DOL") had...more

McDermott Will & Emery

DOL Issues Guidance on Plan Asset Status of Revenue Sharing Payments

McDermott Will & Emery on

The U.S. Department of Labor (DOL) recently issued guidance on whether accounts holding revenue sharing payments constitute “plan assets” under ERISA. Prior to the issuance of the DOL guidance, it was unclear whether these...more

Morgan Lewis

DOL Clarifies Revenue Sharing Fiduciary Responsibility Issues

Morgan Lewis on

Advisory opinion on "plan asset" issue lays out factors for fiduciary consideration. On July 3, the U.S. Department of Labor (DOL) issued Advisory Opinion 2013-03A, which discusses whether a bookkeeping account for...more

Dechert LLP

Sharing the Wealth – Department of Labor Clarifies Treatment of Revenue Sharing Under ERISA

Dechert LLP on

The U.S. Department of Labor (the “DOL”) recently issued Advisory Opinion 2013-03A (the “Opinion”), which addresses implications under the Employee Retirement Income Security Act of 1974 (“ERISA”) surrounding certain...more

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