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.
Though its challenge to the DOL fiduciary rule was denied, the National Association of Fixed Annuities will appeal the U.S. District Court ruling. Will this set up an appellate split that might prompt the Supreme Court to hear the case?
In a victory for the DOL and its fiduciary rule, a court has denied the National Association for Fixed Annuities request for an injunction against the rule.
The DOL fiduciary rule has caused record keepers to audit their business practices and define what "education" means, slowing innovation in plan design, services, and communications.
The IRS has announced its cost-of-living adjustments affecting dollar limitations for pension plans for 2017. Those hoping for COLAs on 401(k), 403(b), most 457 plans, and the federal governments Thrift Savings Plans are out of luck, however.
Rumors circulating that the DOL will delay implementing the fiduciary rule are unfounded, but the outcome of the Presidential election could affect the rule, ERISA attorneys Campbell and Reish say.
Let's give Anthony Scaramucci, an economic adviser to Trump, the benefit of the doubt when he compares the fiduciary rule to the 1857 Supreme Court ruling which held that African-Americans were property, not U.S. citizens. If it were me, I would apologize and move on.
What Thrivent is asking for is relief from the provision of the fiduciary rules Best Interest Contract Exemption that prohibits class-action waivers in contracts.
As states move on retirement plans, questions remain as to whether or not state payroll deduction programs would inadvertently cause participating employers to establish ERISA-covered plans.