Fiduciary Rules and Practices

The Department of Labor has issued a temporary delay of the enforcement effective date for Prohibited Transaction Exemption 2020-02. In Field Assistance Bulletin 2021-02, released Oct. 25,  the DOL’s Employee Benefits Security Administration (EBSA) announced that from Dec. 21, 2021, through Jan.... READ MORE

While the plan fiduciaries in the case chose to settle, the investment consultant for the plan took the case to trial—and won. The former participant/plaintiff here (one Benjamin Reetz) claimed that the defendants here (Lowe’s, the Administrative Committee of Lowe’s Companies, Inc. and investment... READ MORE

Another excessive fee suit has been tossed by a federal judge for failing to “assert sufficient allegations to support their claim…” This time the defendants are the fiduciaries of Cincinnati-based TriHealth, Inc.’s retirement plan—a relatively small plan ($457 million)—and the suit filed on... READ MORE

A recent survey of insurers highlights the criteria that a number of the nation’s leading fiduciary liability insurers identified as the biggest sources of fiduciary risk, writes Nevin E. Adams, JD, in MarketBeat. However, the report’s authors note that it was specifically focused on sources of... READ MORE

A federal judge has put a half dozen excessive fee suits on hold pending a decision by the U.S. Supreme Court in a case that ”will likely clarify the pleading requirements for ERISA breach of fiduciary claims in cases such as this…”   That was the determination of Judge William C. Griesbach... READ MORE

A recent survey of some of the nation’s leading insurers highlights ways that plan fiduciaries can limit liability—and insurance premiums. Nevin Adams and Fred Reish consider the options in a new podcast episode. While many factors can come into play in triggering—or forestalling—retirement plan... READ MORE

Another multibillion-dollar plan—this one a faith-based, not-for-profit health care organization and clinical care network—finds itself in the crosshairs of a Capozzi Adler lawsuit. Plaintiffs Lawanda Holmes, Ani M. Miller and Brittany E. Roxbury (“by and through their attorneys”) filed suit... READ MORE

The plaintiffs in a 403(b) excessive fee suit have persuaded a federal appellate court that (some of) their claims warrant a further consideration.  One of the first of the 403(b) university excessive fee suits, the plaintiffs brought this suit against NYU in its capacity as the fiduciary of... READ MORE

One of the many consequences of the global pandemic is that there is a spotlight shining on the importance of virtual security. And that includes sharing personal protected information (PPI), argues a CPA firm.  In the pre-COVID world, says Cassell Plan Audits in its blog, many companies had... READ MORE