Tracking down the valid claims In a recent blog post, ERISA attorney Carol Buckmann ran down some recent court decisions on these cases: Putnam Investments defeated a claim that putting its own funds in its 401k plan was imprudent. Voya was released dismissing claims based on...
A recent article by Marcia S. Wagner in Investment News brought to light a district court decision that has implications for how retirement plan sponsors should monitor their adviser. Employee Retirement Income Security Act of 1974, Section 405(d)(1), provides that if a named fiduciary appoints an investment manager to...
Plan Sponsor reports that employees of Northrop Grumman have reached an agreement with their employer to resolve claims in the long-running matter of In re Northrop Grumman Corp. ERISA Litigation, a class action lawsuit initially filed back in 2006. The case involves a classic example of an ERISA...
[caption id="attachment_1509" align="alignright" width="300"] Now is not the time to become complacent[/caption] Fiduciary News published an interview with Charles Field on June 20, 2017, that drove home the point --- plan sponsors, service providers, and retirement fiduciaries in general should not become complacent at the cusp of a...
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I caught up with Troy Tisue the other day to ask him a question, "Why should you hire a 3(16)?" That's a topic we've been asking a lot lately to make sure TAG Resources is giving you the most thorough and complete reason to do so. Here's...
Staying compliant is about having expert knowledge of the rules that govern the day–to-day operations of your 401(k) plan. This requires: having the time to keep up with all the changing regulations, being prepared to meet with the Department of Labor (DOL) or Internal Revenue...
Madness. Mayhem. March. retireMent. Derren Burrell explores the similarities of Madness in March and fiduciary mayhem that is hitting the retirement plan industry. ...
When it comes to leadership, there are generally two camps — micromanagement and macromanagement. After briefly touching on these two styles of leadership, I’d like to introduce a 3rd style — one in which I believe works best in most situations; I refer to it...
When the Department of Labor (DOL) Fiduciary rule was first unveiled, many financial advisors (FA), broker dealers (BDs), and recordkeepers rushed to re-tool their processes in order to ensure compliance to the hefty liability that came along with the new ruling. Pockets of advisors and...