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A $24 million settlement – including an $8 million attorneys’ fee for plaintiffs’ counsel – has been approved in an excessive fee suit. Judge Catherine C. Eagles of the U.S. District Court for the Middle District of North Carolina signed the final approval order in the case involving BB&T and... READ MORE
The ERISA consultants at the Retirement Learning Center Resource regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings plans. We bring Case of the Week to you to highlight the most... READ MORE
Employees who used their financial wellness program on a regular basis improved in all areas of financial planning, with the greatest level of improvement in retirement preparedness, according to a new, multi-year study.  Financial Finesse’s 2018 Financial Wellness Year in Review highlighting the... READ MORE
The Labor Department and Securities and Exchange Commission aren’t the only ones contemplating a new fiduciary standard. Now the Office of the Comptroller of the Currency (OCC) is considering whether it should update the regulatory definition of “fiduciary capacity” to make it more consistent with... READ MORE
The parties in a suit brought against Eaton Vance by a participant in its $434 million plan for loading up its 401(k) plan with relatively expensive proprietary investment options that allegedly performed poorly have announced the terms of their settlement. The suit, filed in October 2018 in the U... READ MORE
With billions of dollars continuing to leave the retirement system early every year, a new report looks at factors that lead individuals to take early withdrawals, as well as policies that may help reduce the incidence.  In “Additional Data and Analysis Could Provide Insight into Early Withdrawals... READ MORE
The successful appeal of an excessive fee suit dismissal has triggered a review of another decision. The suit, involving the University of Pennsylvania Matching Plan, was given new life following an appellate court’s remand following dismissal by the district court. In 2015, Investment manager... READ MORE
The 2019 Retirement Confidence Survey (RCS) found a continued increase in retirement confidence – but some were more likely to be confident than others.  Confidence about retirement is one thing, of course, and preparation something else, though the two are logically intertwined. That said, for... READ MORE
Every week brings a new story of cyber breaches in the retirement industry. Many of these stories focus on service providers such as recordkeepers. Others focus on data and payroll security at plan sponsors. However, not to be forgotten are cybersecurity challenges for advisors. The SEC's Office... READ MORE
Attendees at the Plan Sponsor Council of America’s National Conference in Tampa got a sneak peek at the findings of the PSCA’s Inaugural Health Savings Account Survey. The general session panel – Kenneth Forsythe, Head of Product Strategy at Empower; and Glen Kvadus, VP at Optum Financial Services... READ MORE