Fiduciary Governance

It’s easy to assume that if everyone did their part individually, a team would function smoothly and efficiently, but group dynamics, synergy and demographics all can either contribute or detract from an investment committee’s effectiveness. A new white paper the firm Arnerich Massena, “Investment... READ MORE

Plan sponsors and service providers already take seriously their responsibilities to protect participant data, but where are the lines of responsibilities and accountability in the event of a breach? That was the focus of a workshop at the Plan Sponsor Council of America’s 2019 National Conference... READ MORE

Lawsuits have been filed concerning several large corporate pension plans. While those suits involve specific plans, a recent blog entry argues that they have broader implications. In “The Defined Benefit (DB) Lawsuits: Why There May Be Widespread Implications,” a recent entry in Cammack... READ MORE

Pension plan funding, a perennial issue, was on the rebound as the recovery from the Great Recession took hold, but recent volatility in the financial markets compromised that improvement for many plans. A recent paper argues that one of the keys to buttressing a pension plan’s funding lies in its... READ MORE

Fiduciary duty, who is responsible for fulfilling it, and the rules that will — or won’t — guide and regulate it have been generating great attention for years. And for good reason. In “A Cascading Behavioral Roadmap for Fulfilling Fiduciary Duties” a recent blog entry by Neal Shikes, Managing... READ MORE

The Garden State has formally proposed a new uniform fiduciary standard – and there’s some good news.  Issued April 15 by New Jersey Attorney General Gurbir Grewal and the state’s Bureau of Securities, the proposed rule would establish by regulation a common law fiduciary duty and apply it to... READ MORE

ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events. Live Webcasts ASPPA Webcast: IRS Audits and DOL Investigations of Plans and TPAs Tuesday, April 23, 2019 2:00–3:40 p.m. ET Speaker: Fred Reish, APM,... READ MORE

The parties in one of the oldest excessive fee suits have finally come to terms. Those parties – Tussey v. ABB – settled for $55 million which, if approved by a federal judge, would bring to conclusion litigation that was filed in 2005 by Schlichter Bogard & Denton.  The suit had alleged that... READ MORE

A federal appeals court has affirmed summary judgment in a class action suit involving 270,000 plan participants across more than 13,000 plans. The suit was filed in 2015 by plaintiff John Teets, a participant in the Farmers’ Rice Cooperative 401(k) Savings Plan, which had contracted with Great-... READ MORE