It’s not the kind of clash that involves jabs, strikes, and physical blows, but conflicts with your record keeper can lead to even more serious consequences than a fist fight. As we have seen with the Department of Labor’s recent investigation into Wells Fargo potentially steering its retirement-planning clients into…
Posts Tagged: ERISA
Penalties in the Tibble Case Keep Piling Up
by Kathy Duffy, on 09.26.2017I wrote last month about the damages assessed against the plan sponsor, Edison International, in the renowned Tibble case. If the $7.5 million awarded to the plan participant plaintiffs wasn’t enough, the district court judge in the case tacked on another $5.6 million in damages. (This article offers a good…
Tibble’s $7.5M Price Tag for a Process of Prudence
by Kathy Duffy, on 08.22.2017Tibble v. Edison International was a ground-breaking case in the retirement planning and benefits industry, being the first and (so far) only excessive fee lawsuit to reach the highest court of the U.S. The Supreme Court’s decision in 2015 was unanimous in favor of the plaintiffs, the participants in Edison…
Hiring a TPA: The Partner You May Not Know You Needed
by Kathy Duffy, on 04.27.2017Partnering with a Third Party Administrator (TPA) can be very beneficial to help manage compliance-oriented and day-to-day tasks related to managing a retirement plan. Many TPA’s refer to themselves as ERISA Consultants. 401(k) plan sponsors know that running a plan requires a lot of work, whether it’s seeking answers to…
401(k) Oversight: A Who’s Who
by Kathy Duffy, on 04.18.2017Do you know who’s who in the world of the 401(k)? With 401(k) plans set to celebrate their 40th birthday in 2018, their popularity continues to grow. Assets neared the $5 trillion mark at the end of 2016. 401(k) plans are a great way for participants to save for their…