The Department of Labor’s Proposed Prohibited Transaction Exemption and its Impact on Recommendations to Plans, Participants and IRAs (Part 2) -
On July 7, 2020, the DOL issued a proposed prohibited transaction exemption...more
The Department of Labor (DOL) and the Securities and Exchange Commission (SEC) are focusing on rollover recommendations and their impact on plan participants. The DOL has historically taken the position that a recommendation...more
11/19/2020
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Adviser ,
IRA Rollovers ,
Plan Participants ,
Regulation Best Interest ,
Rollover Equity ,
Securities and Exchange Commission (SEC)
The Department of Labor’s Proposed Prohibited Transaction Exemption and its Impact on Recommendations to Plans, Participants and IRAs (Part 1)
On July 7, 2020 the DOL issued a proposed prohibited transaction exemption...more
Broker-dealers and investment advisers are now governed by a best interest standard of care. Those standards are based largely on the same fiduciary principles that are incorporated into the ERISA prudent man standard. The...more
10/21/2020
/ Broker-Dealer ,
Compliance ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary-Standards ,
Financial Institutions ,
Internal Revenue Code (IRC) ,
Policies and Procedures ,
Prohibited Transactions ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
Our recent blog post compared the SEC’s standard of conduct for broker-dealers under Regulation Best Interest (Reg BI) with the standard of conduct for registered investment advisers (RIAs) under the SEC’s Interpretation...more
10/21/2020
/ Broker-Dealer ,
Compliance ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary-Standards ,
Financial Institutions ,
Internal Revenue Code (IRC) ,
Policies and Procedures ,
Prohibited Transactions ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 created a new type of plan that may begin operating in 2021 called a pooled employer plan (PEP). A PEP is a plan in which multiple unrelated...more
The Enhanced Loan Provision for Qualified Participants -
With the spread of the coronavirus and the resulting closures and cutbacks, many 401(k) participants are working reduced hours, but are not considered to be...more
Lessons Learned from Litigation (#4)—The Johns Hopkins Case -
This is the twelfth in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements....more
This is the eleventh in a series of articles about Best Practices for Plan Sponsors. To be clear, “best practices” are not the same as legal requirements. Instead, they are about better ways to manage retirement plans. In...more
9/11/2019
/ Benefit Plan Sponsors ,
Best Practices ,
Business Expenses ,
Duty of Loyalty ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fiduciary Duty ,
Investment Management ,
Recordkeeping Requirements ,
Retirement Plan ,
Revenue Sharing ,
Risk Management ,
Settlement Agreements ,
Share Classes
This is the tenth in a series of articles about Best Practices for Plan Sponsors.
To be clear, “best practices” are not the same as legal requirements. Instead, they are about better ways to manage retirement plans. In...more
The DOL’s newly released final regulation on “Association Retirement Plans” (ARPs) will make it easier for groups and associations of employers to jointly sponsor a combined 401(k) or other defined contribution plan. (These...more