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Articles tagged "ERISA"


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Jason Roberts: 'We know where the administrative hot spots are.'

ERISA attorney co-founds venture to take advantage of DOL's liberal new pooled 401(k) plan guidelines, a boon for RIAs looking to break into the business

The new San Diego firm will be a TAMP-like unit that gives a way for small companies to get big-plan leverage while still letting RIAs handle the investment advice, says CEO Jason Roberts.

June 23, 2022 at 6:56 PM

Ali Khawar: The department concluded it was important to release a statement cautioning fiduciaries.

Dept. of Labor throws its 2020 self under the bus and walks back Trump-era guidance that appeared to open the door to private equity investments in 401(k) plans

A Trump administration 'information letter' affirmed that PE investments could be an 'enhanced' investment option for participants in defined contribution plans under ERISA.

December 23, 2021 at 3:25 AM

Jason Roberts: It can be bet-the-company stakes.

The DOL's Trump-era reprieve from rollover fiduciary rigor is over with aspects of remedy that might 'scare the daylights' out of defense lawyers

The Biden DOL is cool with surprisingly toothy rules it inherited that are sure to cause some RIAs to scramble and may be easier for broker-dealers to manage.

February 13, 2021 at 2:29 AM

Massachusetts regulator William Galvin's reputation precedes him in taking a look at Fidelity's 'infrastructure' fee.

Fidelity's 2016 'secret' fee fix for 'broken' 401(k) business model may spark fresh state and federal 401(k) crackdown on heels of investor civil suits

The DOL, William Galvin and a class action hang over the Boston 401(k) king's 15-basis-point fee, but experts think Fidelity -- its squirrel-y disclosure aside-- can fight the charges

March 18, 2019 at 9:28 PM

Andy Sieg could preside over commission elimination for brokers handling non-retirement investments.

Using DOL as cover, Bank of America cuts the Merrill Lynch bull as it adds a robo, stops paying brokers to stick around and kicks John Thiel upstairs

The Charlotte, N.C.-based lending giant bagged the Wall Street beast in 2009 when the price was right -- now it's cutting off its traditional food supply

October 18, 2016 at 10:41 PM

Lou Harvey: One of the ways to attack the reasonableness of the regulation is to allege that it is 'arbitrary and capricious,' which the complaint does repeatedly.

Why SIFMA & Co.'s trip to a friendly North Texas court to upend the DOL rule looks more like its Alamo

Little credence is being afforded anti-DOL rule crowd that is trying to flip the script on who is screwing whom

June 6, 2016 at 9:47 PM

Duane Thompson: Its harshest critics might compare the process to a giant anaconda that, having swallowed its prey, now lies motionless for several months as it slowly digests its meal.

Snakes and ladders: What to expect in the unexpectedly triumphant final DOL fiduciary rule

Whether converted or just plain exhausted, the staunchest opponents are standing down to make way for the new rule that will go into effect in 2017

December 18, 2015 at 12:28 AM

Michael Kreps: The DOL is allowing states to set up automatic enrollment for IRAs without triggering ERISA rules. This is setting up an unfair advantages.

401(k) industry howls as DOL lets state governments become DC providers with advantageous exemptions

Multiple employer plans' under states will have economies of scale, fewer rules, while ERISA bars private firms from banding together

December 10, 2015 at 7:00 PM

Mike Alfred: Fidelity's gone from being generous to being assured of being generous.

How exactly Fidelity Investments extracted itself from a legal and HR quagmire and why it'll cost far more than the public $12-million amount

The settlement's small print reveals Fidelity employee may receive additional hundreds of millions of dollars in value over time

August 14, 2014 at 5:01 PM

Philip Chao: Captain Phillips was not thinking if he should serve in the best interest of his crew ... rather, his fiduciary commitment was on autopilot.

What I learned at Putnam Investments' analyst meeting from the real Capt. Phillips

The harrowing tale of a man charged with a boat, cargo and human lives helped think about fiduciary care

April 7, 2014 at 5:03 PM

Jacob Adamczyk: Some of them are filled with conflict because they are stuffed full of proprietary funds selected by the fund company -- if the underlying investments can be determined at all.

Why I use target date funds for some 401(k) clients in my RIA but with exaggerated scrutiny and care

The set-and-forget products have enormous potential for good but may also be a fiduciary nightmare

March 21, 2014 at 4:29 PM

Thomas Clark: There's no liability for Fidelity, but it just doesn't look good for them.

Fidelity Investments wins huge in the 'biggest 401(k) case in decades' -- but bearing battle scars

Boston 401(k) giant is able to reverse prior judgement related to fees in landmark Tussey v. ABB

March 20, 2014 at 7:07 AM

Larry Deatherage: We could find 500 other participants who would counteract what was said on 'Frontline.'

How an LPL-owned 401(k) afterthought zoomed from $6.5 billion to $10 billion with help from reps -- and thinking big

The former NRP duo demurred overtures three years ago from wirehouses and big competitors and now counts Qualcomm, Petco and In-N-Out burger as clients

November 7, 2013 at 5:53 PM

Jeffrey Turner: I'd say it's a victory for Labor and its regs.

DOL credits itself for notable evolution in the 401(k) industry -- not without criticism

The sharks are circling after the Ayres letters caused a furor but one industry leaders says Labor's bureaucrats get a C-minus

September 9, 2013 at 6:38 AM

Ron Rhoades: Here is the rub: the plan sponsor has great difficulty holding the "retirement plan consultant" to account, given the low standard of conduct applicable to measure the potential liability of a non-fiduciary consultant.

Legal analysis: Why the Yale 401(k) letters, limits aside, should raise an alarm to plan sponsors

Ayres may not have it all letter perfect but his basic points have a legal basis

August 19, 2013 at 5:27 AM

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