Fiduciary Governance

Thanksgiving has been called a “uniquely American” holiday, and though that is perhaps something of an overstatement, it is unquestionably a special holiday, and one on which it seems appropriate to reflect on all for which we should be thankful.Here’s my list for 2017:I am thankful that — for the... READ MORE

First, do no harm. A term commonly applied to the practice of medicine, but a recent blog post by Christopher Carosa applies it to fiduciary practices.In “Fiduciary Standard Quandary: First Avoid ‘Harm’onization,” FiduciaryNews’ Carosa argues that while the DOL fiduciary rule may be fairly... READ MORE

Ohio Sen. Sherrod Brown (D) plans to introduce a bill intended to protect pension benefits for retirees in multiemployer DB plans. He made the announcement at a recent event in Youngstown, OH.Brown intends the bill to protect the retirement benefits of participants and retirees in multiemployer... READ MORE

The technological revolution that has ushered in today’s electronic age is a thing of wonder. But it has also opened the door to theft and abuse of money and information, including from retirement accounts. A recent article discusses what can be done to address the threat. In “Cybersecurity... READ MORE

The Federal Bureau of Investigation has raided the offices of Vantage Benefits Administrators “amid concerns that money may be missing from retirement accounts the company manages,” according to the Dallas Morning News. Founded in 1993, Vantage Benefits describes itself as a full-service TPA... READ MORE

In a recent blog post on the fiduciary rule, Fred Reish notes that the fiduciary and best-interest standards of care, as well as the prohibited transaction rules, will have some unexpected effects — and he offers an example. When plan or IRA assets are held by a custodian, Reish notes that... READ MORE

The Pension Benefit Guaranty Corporation (PBGC) announced on Oct. 16 that it is launching a new pilot program that will offer mediation in certain Termination Liability Collection and Early Warning Program cases. The PBGC says that it decided that the pilot project would concern such cases because... READ MORE

There’s an old saying that when you assume… well, here are six assumptions that can create real headaches for retirement plan fiduciaries.Assuming that not being required to have an investment policy statement means you don’t need to have an investment policy.While plan advisers and consultants... READ MORE

A published report says the Trump administration is prepared to nominate a new Assistant Secretary for the Department of Labor’s Employee Benefits Security Administration (EBSA). Politico Pro says that the much-anticipated nod will go to Preston Rutledge, currently Senior Tax and Benefits Counsel... READ MORE