News & Analysis as of

Fiduciary Duty Annuities 401k

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The DOL is Right to Scrap the Annuity Safe Harbor

The Insured Retirement Institute (IRI) is once again carrying water for the annuity industry, this time urging the Department of Labor to retain a regulatory safe harbor that’s already obsolete. The safe harbor in question,...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (52): The Loper Bright Decision and What it Means for DOL Exemptions (2)

As I explained in my last post, Fiduciary Rule 51, I have been asked whether the Supreme Court’s decision in Loper Bright Enterprises et al. v. Raimondo, Secretary of Commerce et al. could affect the outcome of the litigation...more

WilmerHale

Life and Annuity Series: Excessive Fees—Different Theory

WilmerHale on

A recent decision on "excessive fees," titled Santomenno v. Transamerica Life (C.D. Cal.), supports an even broader theory of ERISA liability than the "sub-advisor" claims I have previously reviewed, but it restricts that...more

Carlton Fields

For Life Insurers and Agents – A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

Carlton Fields on

The Department of Labor’s recent Proposed Rule (the “Proposal”), which defines the term “fiduciary” as it applies to persons who provide “investment advice” to ERISA plans and IRAs, will impact the likelihood and severity of...more

Carlton Fields

Third Circuit Limits ERISA Fiduciary Liability

Carlton Fields on

Former and current annuity holders sued John Hancock Life Insurance Company in New Jersey federal court several years ago, alleging that, as a service provider to their 401(k) plans, John Hancock was an ERISA fiduciary and...more

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