News & Analysis as of

Employee Benefits Investment Adviser 401k

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors aren’t sold on Bitcoin

On whether to recommend Bitcoin and other digital assets for clients, financial advisers are wary about their fiduciary duty to clients, according to a CoinShares survey....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

When Your 401(k) Financial Advisor May Have To Be Fired

401(k) financial advisors are often handicapped by the fact that the nature of their position requires them to have an ERISA background when they don’t. It’s hard to fake an ERISA background when you don’t and it’s pretty...more

Faegre Drinker Biddle & Reath LLP

Things I Worry About (7): DOL Investigations and Unsuspecting Plan Sponsors

The DOL’s EBSA has a number of programs that can restore benefits to plans and participants. Those include: - Civil investigations. - Criminal investigations. - Informal compliant resolutions. - Correction programs. ...more

Proskauer - Employee Benefits & Executive...

401(k) Plan Fiduciaries Breached ERISA’s Duty of Loyalty By Allowing ESG Interests To Influence Management Of The Plan

Last week, Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas, issued the first-of-its-kind ruling on the merits pertaining to environmental, social, and corporate governance (“ESG”) investing...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sageview buys OnTrack 401(k)

SageView Advisory Group has announced its acquisition of OnTrack 401(k), based in Frederick, Maryland....more

Carlton Fields

Changes for Producer Award Trips at IMOs? Fiduciary Rule Suggests Turbulence Ahead

Carlton Fields on

In April 2024, the U.S. Department of Labor issued its long-awaited retirement security rule, also known as the fiduciary rule, broadening the definition of who is an “investment advice fiduciary” under the Employee...more

Lathrop GPM

Retirement Security Fiduciary Rule Stayed

Lathrop GPM on

Under recently finalized federal regulations (commonly referred to as the “Fiduciary Rule”) that were scheduled to become effective on September 23, 2024, the U.S. Department of Labor intended to expand the fiduciary...more

Quarles & Brady LLP

2023 Year-End Employee Benefits Updates

Quarles & Brady LLP on

This newsletter provides updates employers should be aware of heading into 2024, including an outline of the updated 2024 retirement and welfare plan limits, instructions related to the “gag order” attestation requirements...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit: Changes to a Services Agreement Require Consideration of Indirect Compensation

A recent Ninth Circuit decision has generated considerable controversy amongst employee benefits practitioners by holding that plan fiduciaries engaged in prohibited transactions when they amended the plan’s existing...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #11 — The Saver’s Match for Low Income Workers

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

Kilpatrick

DOL's Interpretation of Fiduciary Rollover Advice Narrowed by District Court

Kilpatrick on

This week, a federal district court in the Middle District of Florida invalidated the Department of Labor’s ("DOL") policy as to when advice provided by a financial institution or financial professional on a rollover from an...more

Kilpatrick

Federal District Court Narrows Interpretation of Fiduciary Rollover Advice

Kilpatrick on

On February 13, 2023, a federal district court in the Middle District of Florida invalidated the Department of Labor’s (“DOL”) policy as to when advice provided by a financial institution or financial professional (“adviser”)...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions (#1–Automatic Plans)

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022—the “enactment date”. SECURE Act 2.0 has over 90 provisions, some major and some minor. One of the most...more

Littler

DOL Issues Final Rule for ERISA Fiduciaries Considering Socially Conscious Investments

Littler on

Employers offering 401(k) and similar retirement plans should familiarize themselves with a new rule published by the Employee Benefits Security Administration of the U.S. Department of Labor, Prudence and Loyalty in...more

Foley Hoag LLP

DOL Eases Restrictions on Use of ESG Factors in Retirement Plan Investment Decisions

Foley Hoag LLP on

The U.S. Department of Labor (“DOL”) has issued a final rule (the “Final Rule) addressing how ERISA fiduciaries may consider environmental, social and governmental (ESG) factors in making investment decisions for retirement...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Revives Second Excessive Fee 401(k) Plan Litigation

On Friday, for the second week in a row, the Ninth Circuit reversed dismissal of a 401(k) plan excessive fee litigation challenging the offering of retail share classes of mutual funds instead of cheaper institutional share...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - September 2021

Don’t Be Like These 401(k) Plan Providers - The beauty of being an ERISA attorney is that when you think you’ve seen it all, you’ve seen something new. While most plan providers are professional, ethical, and competent,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - December 2020

Big Concepts That 401(k) Plan Providers Forget About. Whether it was working for others or working for charitable organizations, it seems that there is a culture out there that seems to forget why these businesses and...more

Best Best & Krieger LLP

Tips On Selecting a Retirement Plan Adviser When You Can’t Meet Them in Person

Over the past several months, we have seen a number of public agency clients struggle through the process of evaluating and selecting a retirement plan adviser based only on generic questionnaires, a few phone calls, and an...more

Carlton Fields

Three Timely Benefits Items Everyone Should Know

Carlton Fields on

Carlton Fields tax attorney Lowell Walters discusses three timely employee benefits issues: using employee benefits to reduce expenses; helping retirement plan participants in an inconsistent investment market; and, the...more

McDermott Will & Schulte

DOL: Path for 401(k) Plans to Offer Private Equity Investment Options

The US Department of Labor (DOL) issued an information letter in June 2020 indicating that, in limited circumstances, it will allow defined contribution retirement plans (such as 401(k) plans) to indirectly invest in private...more

Epstein Becker & Green

DOL Provides Guidance for Private Equity Investments in 401(k) Plans

Epstein Becker & Green on

Employers that are fiduciaries of participant-directed individual account plans (such as 401(k) plans) subject to the Employee Retirement Income Security Act of 1974, as amended (‘Plans” and “ERISA”, respectively) should be...more

Burr & Forman

DOL Cracks Open the Door for Private Equity in 401(k) Plans

Burr & Forman on

The U.S. Department of Labor (the “DOL”) recently released an information letter that concludes, if certain conditions are met, a plan fiduciary will not violate his fiduciary duties under the Employee Retirement Income...more

Bowditch & Dewey

DOL Proposes New Rules for Selecting Retirement Plan Investments

Bowditch & Dewey on

If you are a member of the committee for your employer’s pension, 401(k), profit-sharing, or 403(b) plan, you should check out a set of proposed rules for selecting investments. If you have an outside investment advisor, as...more

Goodwin

Top 10 Compensation and Benefits Issues for Employers in Light of the COVID-19 Pandemic

Goodwin on

As the COVID-19 pandemic continues to unfold, many employers are faced with questions about the impact of economic changes and workforce reductions on their compensation and benefits arrangements. This alert is intended to...more

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