Judge Says City National Was Self-Dealing in 401(k)
While it is not illegal to administer retirement plans in-house, a lawsuit filed by the Labor Department in 2015 alleged...
Tag: EBSA
DOL Files Complaint Over Firm’s Failure to Close Profit Sharing Plan
An investigation conducted by the U.S. Department of Labor’s Employee Benefits Security Administration found Interactive Marketing Group failed to formally...
Court Restricts ESOP Attorney’s Ability to Represent Plans
The attorney’s alleged contempt arose from a lawsuit against Herbert Bruister and others for various breaches of fiduciary duties that...
Gruber Systems Ordered to Pay for Improper ESOP Purchase
The DOL won a consent judgment and order valued at $1.1 million on behalf of participants in a Gruber Systems...
Defunct Company Retirement Plan Owes Nearly $1M to Participants
The company ceased all business operations in 2009, but failed to take the appropriate steps to terminate the plan.
Plan Sponsors Face Risks in Fiduciary Rule Change
It’s not just financial advisers and investment providers that should be prepping for the final fiduciary rule to emerge from...
DB Plans Should Start Reviewing Payment Practices
The DOL has begun investigations, attorneys tell PLANSPONSOR.
DOL Sues Sponsor Over Company Stock Valuation
The DOL is asking a Florida district court to take action against an employer accused of inflating its fair market...
House Passes Bill Opposing Fiduciary Rule
The Retail Investor Protection Act is likely to be vetoed by the White House.
Fiduciaries Ordered to Restore Withheld 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Nearly $1M Left in Abandoned 401(k)
The DOL says a defunct company started plan termination procedures, but failed to complete the termination before ceasing operations.
Whistleblowers Remedied Following ERISA Challenge
The DOL says officials at Cement Masons Southern California Trust Funds illegally retaliated against a whistleblower who flagged ERISA violations.
DOL Says Company Kept Employee 401(k) Contributions
A construction company ceased operations in 2013 and has not paid 401(k) participants their plan assets, according to a lawsuit.
Fiduciary Rule Hearings Kick Off in Washington
There is perhaps no better venue than a marathon Labor Department hearing to show what practices and beliefs most divide...
SEC Faces Its Own Debate on Fiduciary Advice Standards
Transcripts from a tough SEC hearing called earlier this month show it's not just the Department of Labor considering changes...
DOL Sues for 401(k) Fringe Benefit Contributions
The agency says $108,000 in fringe benefit contributions were not forwarded to the Brunk Industries Contractors and Employees 401(k) Plan.
PBI Bank Settles with DOL over ESOP Transaction
PBI Bank will no longer serve as a trustee or service provider for any plan covered by ERISA, with a...
DOL Gets Final Judgment in Misuse of Pension Funds Cases
The latest court order culminates six years of investigations and three years of legal battle.
DOL Seeks Independent Fiduciary for Abandoned Plan
The plan’s recordkeeper refused to make distributions after the former plan fiduciary changed each participant’s address to his own.
DOL Sues Bank for Excessive Retirement Plan Fees
A lawsuit says City National Profit Sharing Plan fiduciaries engaged in self-dealing and conflicted transactions.