JD

It was a short week, but a busy one for the Labor Department, as it dropped off a second final rule at the OMB for evaluation.  The final rule on “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights” was received at the Office and Management Budget on Nov. 25, just a day after the final... READ MORE

In a year chock-full of proposed rules and final regulations, the Labor Department has apparently wrapped up its work on a new fiduciary rule. According to a posting on the Office of Management and Budget website, the DOL on Nov. 24 dropped off its final rule on its proposed advice package, “... READ MORE

A primary sponsor of the SECURE Act—and Chairman of the House Ways & Means Committee—has a bone to pick with the Labor Department and a key assumption in its interim final rules regarding lifetime disclosures. In a letter to Secretary of Labor Eugene Scalia, Rep. Richie Neal (D-MA), a sponsor... READ MORE

Those who had hoped for some clarity—or perhaps a shift—in the standards involving where, and how, to draw the line between the obligations of corporate officials and ERISA plan fiduciaries—well, the Supreme Court has decided (again) not to provide it. It’s an issue that the U.S. Supreme Court had... READ MORE

If you have turned on a TV, walked by a radio, driven down a residential street, or answered a phone (or more likely let it go unanswered) in the past month, you will, of course, be aware that our nation officially went to the polls.  Of course, our nation was “going” to the polls—or at least... READ MORE

Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. And sometimes it’s just a good time to think about the things that give us pause—that cause a chill to run down our spine.  In that category, here are three things to... READ MORE

A reader recently commented, “Nevin: You are continually berating those who question various aspects of 401(k) plans as if the current structure is ‘perfect.’ It isn’t.” That comment was inspired by a recent column of mine critical of a proposal rumored to be under contemplation by the Biden... READ MORE

Noting that the settlement agreement is “fair, reasonable, and adequate, and within the range of possible approval,” the parties in an excessive fee suit have come to terms. More specifically, on Oct. 12, 2020, “after extensive litigation, lengthy discovery,[1] and protracted arm’s-length... READ MORE

In a year full of challenges for plans and plan sponsors alike, we’ve seen a spate of litigation against retirement programs like none in recent memory. So what’s a plan fiduciary to do?  At times, it seems that every plan in American with more than $1 billion in assets has fallen short of at... READ MORE