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The U.S. Department of Labor (DOL) released the second set of frequently asked questions (FAQs) for retirement plan professionals on the agency’s complex new fiduciary rule just days before the end of the Obama administration in an effort to answer plan practitioners’ questions about how the rule draws lines between fiduciary and nonfiduciary communications, education, and advice.
By Jane Meacham Retirement plan service providers likely will face the most need to change business models among those affected by the U.S. Department of Labor’s (DOL) final fiduciary rule issued in early April. Although adoption of the regulation is more than a year away, many respondents to an industry survey quickly registered confusion, and […]
The U.S. Supreme Court on May 18 unanimously vacated a federal appellate court ruling that found that employee retirement plan participants’ claims about fees applied to their plan were time-barred, sending a clear message that plan fiduciaries have an ongoing duty to monitor investments, their expenses and other related claims within that duty’s statute of […]
An appeals court decision coming on the heels of a recent Supreme Court stripping the presumption of prudence for fiduciaries may raise the stakes even higher for plan sponsors. A panel of judges in the 4th U.S. Circuit Court of Appeals required that fiduciaries make a decision about company stock in their retirement plan based […]