Browsing Tag
401(k) Fiduciary
172 posts
A 401(k) fiduciary is a person or entity responsible for managing a 401(k) plan in the best interests of its participants. Under ERISA, fiduciaries must act prudently, diversify investments, follow plan documents, and avoid conflicts of interest. This includes duties like selecting and monitoring investment options, managing fees, and ensuring compliance. Fiduciaries can be employers, plan administrators, advisors, or trustees. Failing to meet fiduciary responsibilities can result in legal liability and financial penalties. Their primary goal is to protect and grow employees’ retirement savings through responsible and ethical plan management.
Empower’s Murphy: DOL’s Retirement Security Rule ‘Should be Withdrawn Immediately’
Recordkeeper’s comment letter released today says proposed regulation would hurt retirement plan formation
DOL Retirement Security Hearing: Groups Express Both Support and Strong Opposition
American Retirement Association among first to voice its views to Employee Benefits Security Administation over the proposed rule
‘A’ List Industry Lineup Set to Testify in Dec. 12-13 Fiduciary Rule Hearing
DOL publishes agenda for two days of online hearings on its controversial proposed retirement security rule, related proposed exemption amendments
House Passes Amendments Blocking DOL Fiduciary Rule
In response, the Biden Administration said the president would veto the bill if it passed the Senate
Financial Groups Request Comment Period Extension for DOL Retirement Security Rule Proposal
Coalition says 60 days “not nearly enough time” to review and comment on controversial 500-page proposal
Breaking Down the DOL’s Five-Part Test
The history behind the test and where it could potentially stand with the new fiduciary proposal
Biden: DOL Fiduciary Rule is a Further Crackdown on ‘Junk Fees’
President focused on retirement security during White House remarks Tuesday; Insured Retirement Institute blasts “unnecessary, redundant, and harmful proposal”
DOL Fiduciary Rule Released; Industry Reaction Pours In
President Biden will speak about the rule from the White House at 3:30; new proposal applies a fiduciary standard to retirement advice on rollovers
Trick or Treat? New DOL Fiduciary Rule Proposal to Debut on Halloween
First public look at controversial new rulemaking comes after White House event at 3:30 p.m. Tuesday featuring President Biden
ESG Issues Continue to Make Headlines
Groom Law’s George Sepsakos and Jake Eigner describe regulatory and political developments in the ever-shifting environmental, social and governance landscape