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Retirement Doctor: Fiduciary and Compliance Mistakes

Jul 24, 2018 2:43:43 PM / by Mike Rogers posted in 401(k) plan, 401(k) plan sponsor, Fees, 401(k), best practices, ERISA, Audit

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Fiduciary and Compliance Mistakes in 403(b) Plans

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The New Fiduciary Rule: What it means for Employer Compliance

Apr 4, 2017 9:18:02 PM / by Deborah Hyde posted in fiduciary, hr compliance, Front Page Post, 401(k), Deborah Hyde, DOL fiduciary rule, ERISA, Financial, industry LEADERSHIP

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Update: As of April 4, 2017, the Department of Labor finalized a 60-day delay to the effective date of the new fiduciary rule (the Rule). The Rule was originally set to take effect April 10, 2017, but as a result of the delay, will become effective June 9, 2017.  The delay is in response to President Trump's directive that the DOL review and report on how the Rule may negatively impact consumers. 

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401(k) Sponsors: Scrutiny Intensifies with Impending Decision from the Supreme Court

May 17, 2015 12:27:52 PM / by Deborah Hyde posted in 401(k) plan, 401(k) plan sponsor, Tibble v. Edison International, 401(k), Affordable Care Act, benefits CONSULTING, Deborah Hyde, ERISA

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UPDATE: The Supreme Court issued its unanimous opinion in Tibble on Monday, May 18.  The Court ruled in favor of the 401(k) participants and held that ERISA’s fiduciary duty requires a continuing duty, “separate and apart from the duty to exercise prudence in selecting investments at the outset,” to monitor plan investments.  Significantly, participants will be able to bring a claim of breach of the continuing duty of prudence so long as the alleged breach occurred within six years of the suit.  Employers, therefore, must undertake consistent quarterly or annual reviews of investments, and must systematically consider the prudence of each investment at that time.  Read the Court’s opinion here.

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