Retirement Regulation

These retirement plans meet the legal requirements and the cost for a pre-approved plan is less than for an individually designed plan, according to the IRS.

These legal pros, who represent clients in the employee benefits field, sent a letter to Congress, in the aftermath of the just-passed tax bill which included little for the retirement sector, to increase retirement "plan formation, plan participation, and retirement savings." 

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. 

The judge accepted the argument that one rollover transaction cannot start an "ongoing advice relationship."

Shortly after the Supreme Court ruled on behalf of employees in the Cornell University excessive fees case, now comes a similar suit filed by Stifel employees over its profit sharing 401(k) plan.

Since there have been more than 50 similar 401(k) forfeiture lawsuits filed recently, the Department of Labor has weighed in on the HP lawsuit, now on appeal: "A fiduciary's use of forfeited employer contributions … alleged in this [HP] case … would not violate ERISA."