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Court strikes down DOL fiduciary rule for advisors who give 'rollover' retirement advice

By Lynn Cavanaugh

A Texas federal judge ruled partially in favor of a group of financial advisors challenging the DOL’s interpretation of fiduciary standards under ERISA, when it pertains to advisors offering recommendations for rollover transactions. 

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Stifel Financial hit with class action suit over excessive 401(k) plan fees, fund options

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Tech giant HP gets support from DOL, in its 401(k) ‘misuse of forfeited funds’ fiduciary lawsuit

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July 10, 2025

Senator introduces bill aimed at boosting retirement benefits for gig workers

After a year-long legislation effort to strengthen retirement benefits for independent workers, Senator Bill Cassidy has unveiled the Independent Retirement Fairness Act this week.

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July 09, 2025

Empower defends its new 401(k) ‘private market’ move, in response to Sen. Warren

Empower’s CEO has replied to Senator Elizabeth Warren’s letter to him, which questioned the risks of Empower’s new private market program, by responding that the “retirement landscape is changing” and it “succeeds when it evolves.”

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July 09, 2025

Pooled employer plan rulemaking in the works? DOL submits RFI to White House Office

SECURE 2.0 required that the Secretary of Labor conduct a study on the PEP industry – and now the DOL has submitted a Request for Information to the White House Office of Management and Budget on PEPs to conduct a study.

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July 08, 2025

BlackRock goes deeper into private market investing, acquiring real estate firm ElmTree Funds

The deal gives the investment firm $7.3 billion in assets as it attempts to broaden its holdings of private assets, following BlackRock’s announcement last week of a new all-in-one 401(k) target date fund with private equity.

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July 08, 2025

SEC's new crypto guidance requires investment firms to issue disclosures ‘in plain English’

The Securities and Exchange Commission’s new Crypto Task Force is paving the way for crypto in 401(k) plans, by issuing disclosure requirements for exchange-traded products tied to cryptocurrencies.

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July 07, 2025

Pentegra agrees to pay $48.5M – an extra $10M – in multiemployer 401(k) excessive fees case

After a jury trial awarded 26,000 bank employees $38 million – short of the damages sought – in an ERISA fiduciary breach lawsuit in April, the leading retirement plan provider agreed to the extra $10 million to resolve the suit.

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July 07, 2025

It’s official: New Trump $1,000 retirement accounts for newborns approved in One Big Beautiful Bill

On the 4<sup>th</sup> of July, President Donald Trump signed into law the new tax bill, which includes the Trump accounts for newborns born over the next four years.

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Top Defined Contribution Stories

Court strikes down DOL fiduciary rule for advisors who give 'rollover' retirement advice

Stifel Financial hit with class action suit over excessive 401(k) plan fees, fund options

Tech giant HP gets support from DOL, in its 401(k) ‘misuse of forfeited funds’ fiduciary lawsuit

Recommended Just For You

Defined Contribution Stories

Senator introduces bill aimed at boosting retirement benefits for gig workers

Empower defends its new 401(k) ‘private market’ move, in response to Sen. Warren

Pooled employer plan rulemaking in the works? DOL submits RFI to White House Office

BlackRock goes deeper into private market investing, acquiring real estate firm ElmTree Funds

SEC's new crypto guidance requires investment firms to issue disclosures ‘in plain English’

Pentegra agrees to pay $48.5M – an extra $10M – in multiemployer 401(k) excessive fees case

It’s official: New Trump $1,000 retirement accounts for newborns approved in One Big Beautiful Bill