News & Analysis as of

Fiduciary Duty Investment Policy Statements

Jackson Lewis P.C.

Goldman Sachs Successful in Getting 401(k) Fee Class Action Dismissed

Jackson Lewis P.C. on

A New York district court recently summarily dismissed, with prejudice, a 401(k) plan participant’s putative class action complaint alleging breaches of fiduciary duty. Falberg v. Goldman Sachs Grp., Inc., No. 19-cv-9910,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Saying they’re good, doesn’t make it so

If people pass on enough incorrect information out there, you start to believe it. When I worked at that semi-prestigious law firm (sorry, Lois), we had a litigation partner that everyone told me was excellent. Being a naïve...more

Verrill

Do you understand your Investment Policy Statement?

Verrill on

The Acme Rocket Sled Company Retirement Plan Administration Committee recently selected a new investment advisor for the company’s 401(k) plan. During the RFP process, the new advisor observed that the Investment Policy...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - November 2019

Great 401(k) Participant Features That Can Land You In Plan Sponsor Hot Water. It can get you in a bad spot. A 401(k) plan is one of the great employee benefits. Within a 401(k) Plan, some options are truly beneficial to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The good old days for advisors are gone

In the good old days of participant-directed 401(k) plans, a good chunk of financial advisors did very little work for the plans that they advised. Many of them sat back, collected their trail or asset-based fee, and maybe...more

Burr & Forman

DOL Provides Additional Guidance on Economically Targeted Investments

Burr & Forman on

On April 23, 2018, the U.S. Department of Labor (the “DOL”) released Field Assistance Bulletin No. 2018-01 (“FAB 2018-01”) which provides guidance regarding (1) the exercise of shareholder rights and written statements of...more

Seyfarth Shaw LLP

Department Of Labor Has More To Say About ESG And Shareholder Rights

Seyfarth Shaw LLP on

On April 23, 2018, the Department of Labor (“DOL”) issued Field Assistance Bulletin No. 2018-01 (“FAB”), which clarifies Interpretive Bulletin 2015-01 (relating to a benefit plan selecting investments to promote social policy...more

Holland & Knight LLP

DOL Issues New Guidance on Plan Fiduciaries' Proxy Voting Policies

Holland & Knight LLP on

The Employee Benefits Security Administration (EBSA) published Interpretive Bulletin (IB) 2016-1 on Dec. 29, 2016, relating to the exercise of shareholder rights and written statements of investment policy, including proxy...more

Burr & Forman

DOL Updates Guidance on Proxy Voting by Plan Fiduciaries

Burr & Forman on

On December 29, 2016, the U.S. Department of Labor (the “DOL”) released Interpretive Bulletin 2016-1 (“IB 2016-1”) relating to the voting of proxies on securities held in employee benefit plans. IB 2016-1 withdraws the...more

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