Displaying 108 results
Schlichter suit against Northwestern goes to Supreme Court
The defendants succeeded in getting the case dismissed in 2018 at the district court level, a decision that was upheld by an appellate court in March 2020.
Russell, Wake Forest, Generac targeted in lawsuits
The new class-action suits against the three employers allege fiduciary breaches. Two defendants in other cases recently reached settlements over $1 million.
Career path, standards less clear in financial advice than in other fields
Professionals in any trade “have a sacred obligation to the client and society as a whole,” Blaine Aikin, founder of Fiduciary Insights, said in the keynote presentation at the InvestmentNews RIA Summit.
New York court shoots down state’s annuity best-interest rule
The court found that the rule was unconstitutionally vague and gave the state too much latitude to find violations.
The 401(k) industry likes emergency savings accounts. Are sponsors ready?
Eight of nine big defined-contribution record keepers either already offer emergency savings programs or are planning to, according to a Commonwealth report. Two — Prudential and Voya — provide those services as an in-plan option.
Acting SEC Chair Lee calls for more proxy voting disclosure by funds
Lee said there may be a disconnect between passive index funds' proxy voting and their investors’ ESG inclinations.
The most dangerous 401(k) myths many plan sponsors still believe
You can't outsource all of your fiduciary responsibilities, and not all retirement plan advisers are created equal.
Who is your 401(k) client?
Retirement plan advisers have to choose one client over the interest of others – and that affects the services they provide, their fiduciary responsibilities and profitability.
Power outages force advisers to leverage Covid-19 contingencies
Freezing temperatures and power outages have affected much of the country. The deadly winter weather is testing the limits of creativity as advisers fight to serve clients and stay warm.
How RPAs can decommoditize their 401(k) services
Though retirement planning seems so critical to those of us in the defined-contribution industry, just as copy machines seem to their salespeople, plan sponsors may not feel the same.
Biden signals administration will review DOL ESG rule
Hours before President Joseph Biden was inaugurated at the U.S. Capitol, the Biden transition team released a list of more than 100 Trump regulations approved since 2017 that it intends to revisit.
Two new 401(k) lawsuits and one big settlement
VALIC and Associated Bank were sued recently over their retirement plans, while a long-running case over losses in Valeant Pharmaceuticals stock in DST Systems' plan was settled for a total of $79 million in three separate agreements.
How the Biden administration can protect retirement savings
The Labor Department's fiduciary rule and the SEC's Reg BI pose a real threat to the retirement savings of investors, but the Biden administration can put an end to the threat.
Vail 401(k) lawsuit dismissed
The plaintiff failed to raise issues with the company's process of selecting and monitoring funds, a judge wrote
Biden names Boston Mayor Walsh to head Labor Department
Walsh is a former head of the Boston Building and Construction Trades Council; his appointment is a signal that Biden will make the labor agenda a priority
Driving progress during an unprecedented year
The challenges of the pandemic were magnified by the implementation of the SEC's Reg BI
Trump administration pushes regulations across finish line in waning days
DOL rules affecting investment advice and the use of ESG factors may be vulnerable under Biden
Robinhood case to test Massachusetts fiduciary rule
But an investor advocate praises the state for targeting conduct other than outright fraud
DOL limits retirement-plan proxy votes to those affecting financial returns
The move could curb shareholder actions related to sustainable investing
SEC member Crenshaw says agency should provide guidance on Reg BI
Democratic commissioner says the SEC should define ‘best interest,’ clarify conflict mitigation related to Reg BI
