Browsing Tag
ERISA
289 posts
ERISA (Employee Retirement Income Security Act) is a 1974 U.S. federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry. It aims to protect plan participants by requiring plans to provide information, establish fiduciary responsibilities, and give participants the right to sue for benefits and breaches of duty. ERISA also guarantees payment of certain benefits through the Pension Benefit Guaranty Corporation if a defined plan is terminated.
Bank Giant Enters 401k 3(38), 3(21) Fiduciary Fray
Get used to hearing about three numbers—3(38), 3(21) and 3(16)—and the need to outsource 401(k) fiduciary responsibility. Investment giant PNC…
401k Fiduciary Rule ‘Hostile Takeover of Financial Industry by Lawyers’
Ask Charlie Epstein about the fiduciary rule, and expect an earful. Epstein, America’s self-proclaimed 401k Coach, estimates that…
401(k) Advisors MUST Educate Plan Sponsors on Two Numbers
With the advent of new and more stringent regulations from the Department of Labor and Securities and Exchange…
CEO Under Fire for 401(k) Salary Deferral Mismanagement
A lesson in trust and the timely remittance of deferrals. The CEO of a nonprofit mental-health agency in Ohio…
Chevron Beats Schlichter in 401(k) Fee Lawsuit
Score one for the little guy, who in this case is Big Oil. In a possible sign of…
401(k) Float: The Next Tort Lawsuit Target
Fidelity 401(k) float practices are challenged in lawsuits alleging ERISA violations and improper interest retention.
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Are 401(k) 3(38) Services Worth the Price?
When analyzing different investment options, many 401(k) plan sponsors question if it makes sense to pay more for…
Are 401(k) Advisors on Track With Fiduciary Rule Standards?
Peyton Manning can put it to a jingle. A recently-released survey from Nationwide finds the new Department of…
New Checklist to Aid with 401(k) Fiduciary Issues
Insurance consulting and brokerage powerhouse Lockton is helping to quell some of the confusion surrounding the recent DOL…
How to Avoid 401(k) Fiduciary Booby Traps with Broker-of-Record Changes
Broker dealer fiduciary rules are reshaping retirement advice, increasing liability and driving demand for ERISA fiduciary training.