With 401(k) litigation increasing, plan advisors and plan sponsors need to know the latest laws as well as strategies attorneys are using to sue employers and advisors. BenefitsPRO's legal coverage includes news, analysis and updates on cases.
Industry professionals told of fiduciary rule ramifications they've seen in the marketplace since June 9, the first phase of the rules two-pronged implementation schedule.
The proposed fiduciary-rule-killing law says commission-based compensation and recommendations on proprietary investment products do not in themselves violate the best interest standard.
For more than a generation, financial service providers were taught to view risk in a way that can be detrimental to the best interests of retirement savers.
The DOJ's recent switch from opposing to defending bans on class actions in workplace arbitration agreements will have far-ranging consequences affecting HR, financial advisors, and many others.
The restriction on writing class-action waivers into the BIC Exemption was designed as the rules primary enforcement mechanism. Labors attorneys say they are dropping the defense of the class-action provision.
The DOL is accepting comments on delaying implementation of the fiduciary rule until July 21 and comments on proposed revisions to the rule until August 7.
A Texas court case was reopened so the court could challenge some of the effects of the Obergefell v. Hodges U.S. Supreme Court decision, particularly with respect to spousal benefits.