IHeart Communications Slammed with ERISA Class Lawsuit
iHeart Communications Inc. is now battling a proposed class action in the Northern District of Texas captained by plan participants and beneficiaries of its 401(k) plan. The plaintiffs of the case claim plan sponsors did…
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What is a Fiduciary Duty?
A fiduciary is an organization or individual that holds the critical power and responsibility of acting on behalf of others. A fiduciary pledges to carry out their daily duties honestly and through good faith. A fiduciary…
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Koch Industries Hit with Excessive Fee Lawsuit
Koch Industries is now charged with excessive recordkeeping fees by current and former plan participants in the Georgia-Pacific Hourly Plan. The lawsuit against Koch Industries, Koch Business Solutions, and the Koch Benefits Administrative Committee alleges…
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Recent Updates in ERISA Plan Investment Regulation
The Labor Department has launched new guidance on private equity in 401(k) plan designated investment choices and a suggested regulation on social, environmental and governance investing. The proposed rule, titled Financial Factors in Selecting Plan…
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Average 401(k) Soars Through 2020
We could all use some good news, especially during this difficult, uncomfortable time. According to the estimates from the Employee Benefit Research Institution, in what is being called the best quarterly market in decades, the…
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DOL Releases New Fiduciary Rule
The Labor Department has revealed its long-awaited fiduciary rule, along with some novel implications for record-keepers, rollover and Pooled Employer Plans advice. Titled “Improving Investment Advice for Workers & Retirees“, the proposal offers a new…
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Plan Sponsors Specifically Threatened by Cyber Attacks
Retirement plans and, specifically, their plan sponsors are being threatened more and more by cyber attacks. Recordkeepers, custodians, and third party administrators are being attacked due to all the valuable personal data they harbor and…
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Why Small and medium-sized enterprises are Expanding Cyber Insurance Budgets
During this time of uncertainty, industries are particularly vulnerable to cyber breaches. Last year alone, ransomware targets forfeited over $1.3 billion to hackers, including high-profile victims like hospitals, airlines and retailers. However, small businesses are…
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IRS Grants RMDs Rollover Relief
Novel guidance has been published by the Internal Revenue Service, who extended the rollback period for minimum distributions already taken this year. The guidance encompasses a series of FAQs and offers plans with sample amendments…
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