Almost 100 new enforcement agents, a new fiduciary standard in May and more than a billion dollars worth of fines and penalties last year? It's time to pay attention, or legally shift your responsibilities.
In a video interview, ASPPA's Craig Hoffman says a few key uncharted areas remain in the fee disclosure pipeline, non-monetary compensation and designated investment alternatives especially.
"Getting It Right - Know Your Fiduciary Responsibilities" will cover the basics under ERISA, in two brief sessions covering reporting, disclosures, prohibited transactions and more.
JPMorgan Chase Bank settled a claim by several retirement funds that it breached its fiduciary duty under the Employee Retirement Income Security Act of 1974 for $150 million.
Compliance with regulations is the top concern of professional service firms that sponsor retirement plans, according to research from Nationwide Financial Services, Inc.
The U.S. Department of Labor filed a complaint in federal court seeking to restore $256,457, plus lost opportunity costs, to the Heartland Foods Inc. 401(k) Profit Sharing Plan.