Fiduciary Rules and Practices
The IRS has issued a draft of the Form 5500-EZ to be used in reporting concerning 2018.
The IRS notes that there are two changes in the form since last year:
The title of Form 5500-EZ has been changed to match the purpose of the form to include both a one-participant retirement plan and a...
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Why attend the 30th Anniversary NTSA Summit?
It’s the highlight of my professional year!
This is because of the following:
NETWORKING with the best of the best, the role model Elite Advisors
MENTORING new attendees, who are bringing fresh ideas
APPRECIATING stories of tradition with business...
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The protection Section 404(c) of ERISA offers can take expenditures of various resources, but a blog argues that it’s worth the expense.
In “Section 404(c) Compliance: Added Protection Makes it Worth the Effort,” Wells Fargo argues in its blog that the value of the protection Section 404(c ) can...
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The Department of Labor has released proposed rules that would expand access to multiple employer retirement plans for small employers and self-employed workers, while also maintaining fiduciary oversight.
Modeled after the Association Health Plans (AHPs) concept, the proposed rules issued Oct. 22...
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The federal government’s updated unified regulatory agenda has shed light on the status of the Securities and Exchange Commission’s and Department of Labor’s efforts on investment advice and the now-vacated fiduciary rule.
The SEC’s updated regulatory agenda confirms that the agency has set a...
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The American Retirement Association filed a comment letter Oct. 19 with the New Jersey Bureau of Securities concerning the fiduciary conduct standards the state government is considering. Gov. Phil Murphy (D) to announced plans in September to issue a rule strengthening the standard for investment...
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This installment of ERISA Tips discusses liability for fiduciary breaches and a blog entry that addresses the consequences of that liability and how it may arise.
Under ERISA, fiduciaries that have been found to have breached their fiduciary duties are personally liable for them, reminds Jose Jara...
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Suppose an employer offers a 403(b) Non-ERISA plan to the employees, but is unsure what its duties are. Since this is a non-ERISA situation, does the employer have the legal and fiduciary responsibility to address investment fees, investment performance, etc.? Tech Talk tells us.
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Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the 403(b) Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the 403(b) Advisor, at jiekel@usaretirement....
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Four universities have now won their case in court against excessive fee claims.
The most recent victor is St. Louis-based Washington University in a suit involving the $3.8 billion Washington University Retirement Savings Plan. The suit, brought on behalf of the plan’s more than 24,000...
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Having won their case in court, the targets of a 403(b) university excessive fee suit are pressing for a federal judge to impose monetary sanctions against the six employee-plaintiffs – and the law firm of Schlichter Bogard & Denton LLP that represented them.
The suit had been brought by...
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Retirement plans do not exist in an ERISA “bubble,” and the SEC’s proposed Rule 30e-3 3 which it issued this past June will fundamentally rework the manner in which mutual fund prospectuses, proxy material and other fund reports are delivered to shareholders. In MarketBeat, Robert Toth argues that...
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Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the 403(b) Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the 403(b) Advisor, at jiekel@usaretirement....
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Another 403(b) excessive fee suit has had its day in court — and walked away empty-handed.This time it was a suit brought by participants in plans of New York University (NYU). It was one of the first excessive fee suits filed against university 403(b) plans by the law firm of Schlichter, Bogard...
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What happens in Washington and in the states affects not only retirement plans collectively, but also the plans central to the work of the NTSA and its members and those whom they serve. In the NTSA Summer 2018 Advocacy Update, broadcast on July 11, American Retirement Association Government...
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Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the 403(b) Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the 403(b) Advisor, at jiekel@usaretirement....
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Another suit has been filed in the aftermath of the theft of retirement plan money by third-party administrator Vantage Benefits — this one against the custodian — and by plaintiffs looking to represent more than a single plan.
The suit, filed by plaintiffs Dave Youngblood (a 403(b) Plan...
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The plaintiffs in a 403(b) university plan excessive fee lawsuit have been allowed to add another claim to that suit: that fiduciaries failed to protect plan assets by allowing third parties to market services to participants.
Federal Magistrate Judge Joe Brown of the U.S. District Court for the...
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Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the 403(b) Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the 403(b) Advisor, at jiekel@usaretirement....
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Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the 403(b) Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the 403(b) Advisor, at jiekel@usaretirement....
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