Fiduciary Rules and Practices

An excessive fee suit has been dismissed on relatively unique grounds. This suit (Stanley v. George Washington Univ., 2019 BL 259889, D.D.C., No. 1:18-cv-00878-JDB, 7/15/19) – another of the suits filed against university 403(b) plans – claims that the fiduciaries of George Washington University’s... READ MORE

A key university 403(b) suit remains alive, as the fiduciary defendants lost their bid to have a rehearing of the case rejected.  The case – one of the first of the university 403(b) suits filed in 2016 – and brought by participants in the $3.8 billion University of Pennsylvania Matching Plan... READ MORE

In MarketBeat, Nevin Adams discusses some things that he argues plan fiduciaries of any plan size should be aware, and of which responsible plan fiduciaries should have a working knowledge. READ MORE

Not wasting any time, the Garden State has announced that it will hold a July 17 hearing in connection with its proposed new fiduciary standards. According to an announcement in the New Jersey Register, the Bureau of Securities also simultaneously announced that it is extending the comment period... READ MORE

All 403(b) plans require some level of administrative support. Prior to the issuance of the final 403(b) regulations, most ERISA-exempt 403(b) plan sponsors performed some tasks required to establish and support their 403(b) programs and the product providers acted under their respective annuity... READ MORE

The Department of Labor’s Employee Benefit Security Administration provides material intended to assist plan administrators in selecting a plan auditor. Tech Talk provides a quick look at some of the qualities that a plan auditor should have. READ MORE

There’s that old caution about being a day late, and a dollar short – well, the plaintiffs in an excessive fee suit were two days late – and missed a key date. The plaintiffs here were participants in the Georgetown University 403(b) plan – who had been soundly rebuffed in January by U.S. District... READ MORE

The federal government’s updated Spring 2019 unified regulatory agenda sheds some light on prospects for the Department of Labor’s next steps on a fiduciary rule revamp.  The DOL’s updated regulatory agenda confirms that the agency has set a target date of December 2019 to issue a Notice of... READ MORE

Fiduciary duty, who is responsible for fulfilling it, and the rules that will — or won’t — guide and regulate it have been generating great attention for years. And for good reason. In “A Cascading Behavioral Roadmap for Fulfilling Fiduciary Duties” a recent blog entry by Neal Shikes, Managing... READ MORE