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A plaintiff seeking class action status in a proprietary fund suit against his former employer may have hit a snag.The case is one brought by Marlon H. Cryer, individually and on behalf of a class of all other persons similarly situated, and on behalf of the Franklin Templeton 401(k) Retirement... READ MORE
Extending their first-quarter gains, target-date funds posted a return of 2.83% in the second quarter, with diversification to non-U.S. equities helping drive TDF performance, according to the Callan Target Date Index.Updated quarterly, the Index is an equally weighted composite of 44 TDF series,... READ MORE
The Labor Department submitted a proposal to the Office of Management and Budget (OMB) on Aug. 9 to extend the transition period and full BIC applicability date of the fiduciary regulation.The notice – which indicates that the Labor Department intends to push back to July 1, 2019, the full Best... READ MORE
The recent DOL FAQs provided relief in situations where an advisor provided a non-fiduciary service to an ERISA plan prior to the applicability date of the fiduciary regulation, but became a fiduciary on June 9 solely because of the change of definition. However, there are situations that the FAQs... READ MORE
Prior to departing for their summer breaks, House and Senate GOP leaders indicated that they plan to pivot from repealing and replacing Obamacare to making enactment of broad-based tax reform their number one priority.What are the chances of that happening? Lawmakers face a number of hurdles and a... READ MORE
You and I know our customers will look for us on social media before making a phone call or stopping by our offices. Guess what? You don’t need a separate policy governing how your employees will represent you on social media.What better way is there to stay top of mind with your target audience... READ MORE
A stable value fund provider has managed to stave off a potential class action alleging that it earned undisclosed profits from its guaranteed investment offerings.The suit, Wood v. Prudential Ret. Ins. & Annuity Co. (2017 BL 273021, D. Conn., No. 3:15-cv-1785-VLB, 8/4/17), was brought in the U... READ MORE
Earlier this year, the 6th U.S. Circuit Court of Appeals ruled that the participants in a university’s plan do not have to exhaust administrative remedies before they pursue claims of ERISA violations. A recent blog entry discusses what this ruling means for plan fiduciaries.In “Exhaustion of Plan... READ MORE
Compared with their counterparts from 20 years ago, current 401(k) investors in their 20s allocated a similar share of their total assets to equities, but changed the mix, becoming less concentrated in equity funds and company stock and more concentrated in balanced funds, according to new research... READ MORE
Surpassing industry projections, the number of new cash balance plans adopted by employers increased by 17% — rising to 17,812 active plans — in 2015, the most recent year for which complete IRS Form 5500 data is available, according to new research by Kravitz, Inc., an Ascensus company.Kravitz’s “... READ MORE

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