Compliance | April 5th, 2018 DOL Announces Fiduciary Seminar in Rhode Island The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
Compliance | March 30th, 2018 Plan Fiduciary Ordered to Pay Restitution for Stealing From 401(k) According to the DOL, the fiduciary failed to remit employee contributions to the plan and used the funds instead for...
Compliance | March 28th, 2018 Former CEO of Pharmaceutical Benefits Management Company Sentenced for Kickback Scheme The CEO pled guilty last year for paying illegal kickbacks to producers in an effort to steer employee health benefit...
Compliance | March 16th, 2018 Circuit Court Ruling to Vacate DOL Fiduciary Extends Regulatory Uncertainty In issuing a strong ruling to vacate the DOL fiduciary rule expansion, the Fifth U.S. Circuit Court of Appeals is...
Compliance | March 8th, 2018 Pension Trustee Found Guilty of Theft The trustee is ordered to pay $234,271 in restitution, serve a year of probation and be barred from serving as...
Compliance | March 5th, 2018 DOL to Take Fiduciary Seminar to Louisiana The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.
Compliance | February 13th, 2018 DOL Reaches Settlement for Plans Affected by Fraudulent Loans U.S. Fiduciary Services and three of its subsidiaries agreed to provide payment of more than $7 million to 42 retirement...
Compliance | February 5th, 2018 Employee Convicted of Embezzling $120K from 401(k) Plan A former office manager of New England Anesthesiologists, Inc. has been sentenced to 37 months in federal prison and to...
Opinions | February 2nd, 2018 Barry’s Pickings: The DOL Slow Walk Michael Barry, president of the Plan Advisory Services Group, discusses the efforts—or lack thereof—of the Trump DOL regarding the fiduciary...
Compliance | January 12th, 2018 Court Orders Plan Fiduciaries to Restore Losses for Misusing Plan Assets The Department of Labor found fiduciaries failed to remit salary deferrals and loan repayments and withdrew assets from the plan...
Compliance | December 28th, 2017 Reports Suggest Massive Fraud in DOL Fiduciary Rule Commentary Process So far, reporting seems to suggest that the numerous fraudulent comments submitted to DOL regarding the fiduciary rule were done...
Compliance | December 22nd, 2017 New EBSA Leader Preston Rutledge Takes Up Trump Agenda Following news of Preston Rutledge’s approval by the full Senate to head the Employee Benefits Security Administration, several retirement industry...
Compliance | December 14th, 2017 Multiemployer Plan Fund Manager Sentenced for Fund Theft In addition to being barred as serving as a fiduciary for five years, the fund manager is ordered to make...
Compliance | December 14th, 2017 EBSA Nominee Rutledge Advances Through Senate Help Committee Preston Rutledge seems to be enjoying relatively little opposition as he moves closer to becoming the Assistant Secretary of Labor...
Compliance | November 27th, 2017 DOL Delays Full Implementation of Fiduciary Rule Again The new delay is for 18 months.
Investing | November 22nd, 2017 Experts Push for Sponsor Courage When Offering In-Plan Lifetime Income DOL leadership has stated explicitly that investments with lifetime income elements can be a prudent investment option in DC plans,...
Compliance | November 21st, 2017 Regulators Announce Modifications to Form 5500 IRS compliance questions have been removed from the form.
Compliance | November 16th, 2017 Democrats Pledge to Protect Union Pensions House and Senate Democrats hope to pass legislation to “put union pension plans back on solid footing,” but their bicameral...
Compliance | November 9th, 2017 Fiduciaries of MEWA Barred for Failing to Pay Medical Claims Employer and employee contributions to the multiple employer welfare arrangement were found in offshore Bermuda accounts.
Compliance | November 7th, 2017 Court Supports Waiver of ERISA Statute of Limitations The 11th Circuit ultimately ruled that it is common sense to conclude that since a litigant can renounce his most...