EBSA Head Rutledge to Depart Role in Late May
Perhaps his most significant contribution was the role Preston Rutledge played in undoing the Obama-era DOL fiduciary rule expansion.
Tag: EBSA
Administrator of Self-Funded Health Plans Ordered to Restore Funds
The Department of Labor found WH Administrators failed to provide proper plan funding and pay medical claims, as well as...
Former Pension Fund Trustee to Pay $462K for Embezzlement
The trustee embezzled approximately $186,123.93 from the plan, as well as knowingly and willingly failed to file a required annual...
DOL Enforcement Efforts Are Wide-Ranging
While the DOL’s Employee Benefit Security Administration is diligent in protecting employees’ benefits, plan sponsors can also turn to it...
E-Delivery Proposal Could be Improved, Stakeholders Say
While the retirement plan industry has reacted positively to a DOL proposal to make default e-delivery of plan documents the...
Criticism of DOL E-Delivery Proposal Misses the Mark, Experts Say
“We think there will be cost savings from e-delivery and that these cost savings will be passed on to individual...
Investment Adviser Sentenced for Defrauding Pension Plan
The Department of Labor found the investment adviser made 63 fraudulent requests to Transamerica for lump sum benefit checks for...
DOL Invites Correction for Failure to Timely Remit Contributions
An update from law firm Masuda, Funai, Eifert & Mitchell, Ltd. says that based on reviews of Form 5500s, the...
Failure to Remit Contributions Cost Retirement Plan Fiduciaries Over $500,000
In addition, a federal district court has ordered the trustee of the plans not to serve in a fiduciary capacity...
Retirement Plan Sponsors and Providers Given Relief by DOL Due to Hurricanes
The DOL relief relates to plan loans and distributions, remittance of contributions and blackout period notices.
ERISA Attorneys Interpret DOL MEP Regulations
Industry stakeholders disappointed the proposal does not address open MEPs can take heart in the fact that DOL staff are...
EBSA Secures ERISA Settlement from Neuroscience Center
The plan’s sole fiduciary and trustee has agreed to restore pension assets that, according to an EBSA investigation, were improperly...
DOL’s Open MEP Proposal Advances Through OMB
If the DOL’s proposal closely follows President Trump’s executive orders, it is likely to revise the “common nexus” and “one...
Business Owner Gets Prison for Benefit Plan Embezzlement
A DOL investigation found the business owner used benefit plan contributions for corporate and personal expenses.
Litigators Not the Only Ones Looking Into Retirement Plan Investments and Fees
The EBSA’s Plan Investment Conflicts (PIC) project have reviewed conflicts of interest of fiduciary service providers and investment managers of...
DOL Appoints Independent Fiduciary to Abandoned Plan
Fiduciaries of the Sacred Heart Hospital Profit-Sharing 401(k) Plan failed to administer the plan after the hospital operations ceased in...
Business Owner to Serve Prison Time for 401(k) Plan Embezzlement
A multi-agency investigation found that from approximately May 2011 through August 2012, the business owner unlawfully embezzled and converted approximately...
Court Orders Independent Plan Fiduciary for Cambridge Technology Group
The DOL found the company's president and CEO did not process any distribution requests submitted by 401(k) plan participants, among...
DOL’s ESG Investing Bulletin Raises Important Questions for Plan Fiduciaries
Given some of the strong language used to warn retirement plan fiduciaries against placing other interests ahead of the financial...
401(k) Plan Trustees Ordered to Pay Back Misused Funds
A DOL investigation found the trustees used plan assets for businesses and properties owned by themselves and family members.