Browsing Tag
Fiduciary
618 posts
Being a fiduciary means acting on behalf of another person or entity and having a legal and ethical obligation to put their interests above your own. Essentially, a fiduciary is entrusted with the responsibility to make decisions and manage assets in a way that benefits their client, not themselves. This relationship is built on trust and confidence, requiring the fiduciary to act with utmost good faith, care, and loyalty.
Missing Participants and Fiduciary Responsibilities: A Risk for TPAs
The Department of Labor (DOL) is aggressively investigating the practices and procedures of plan sponsors with respect to…
9 Issues 401(k)s May Face in 2019—And What to Do About Them
Advisors, sponsors and participants, lookout. In an era when Americans are responsible for funding their own retirement through…
Labor Secretary Acosta Under Fire for Sweetheart Pedophile Deal
Update per McClatchy: Trump labor secretary out of running for attorney general after Miami Herald report. Labor Secretary Alexander Acosta…
Fred Reish: What Does Best Interest Mean . . . In the Real World?
Previously, I’ve discussed different definitions of a “best interest” standard of care. The point is that, while there…
House Introduces Major Tax, Retirement Savings Legislation
Lame duck legislative action late Monday produced a 300-page package designed to positively impact Americans’ retirement savings and…
A Simple Recipe for Minimizing 401k Lawsuits
A recent paper issued by the Center for Retirement Research documents the surge in 401(k) litigation over the…
401(k) Filing Relief for California Wildfire Victims
In the wake of the most destructive California wildfire season on record, the Department of Labor (DOL) has…
Surprising Fallout in 401(k) Fiduciary Fraud Case
The ongoing saga involving alleged husband and wife grifters Jeff and Wendy Richie, proprietors of Vantage Benefits Administrators,…
To-Do: Remind 401(k) Plan Sponsors to…
As the end of the year approaches, advisors may want to remind plan sponsors of deadlines for amending…
Fred Reish: 401(k) Sponsors in Serious Need of Fiduciary Training
In three earlier posts about the Sacerdote v. New York University decision, I discussed the good and the bad…