Another university has been sued by plan participants for excessive fees and failing to fulfill its obligations as a fiduciary under ERISA.The most recent case, Daugherty v. The University of Chicago (N.D. Ill., No. 1:17-cv-03736, complaint filed 5/18/17), seeks class action status for some 36,000... READ MORE

Citing a NAPA Net report,  three Senate Democratic have pressed Secretary of Labor Alexander Acosta regarding comments that he wanted to find a way to freeze the fiduciary rule and make it “stick.”The letter, signed by Sens. Patty Murray (D-WA), Elizabeth Warren (D-MA) and Corey Booker (D-NJ),... READ MORE

President Trump may have signed legislation pulling back the Obama administration’s ERISA safe harbor guidance for state-run auto IRAs, but California officials say they don’t need it.In a press release, California State Treasurer John Chiang and Senate President Pro Tempore Kevin de León (D-Los... READ MORE

These days you hear a lot of talk about multiple employer plans, or MEPs (not to be confused with the troubled multi-employer plans, about which you also hear a lot of talk these days). So what do NAPA Net readers think about the potential? And is it a threat or an opportunity?Overall the sentiment... READ MORE

President Trump has signed legislation that overturns the Obama administration’s ERISA safe harbor rule for state-run auto-IRA programs for private sector workers.He signed the legislation on the last day he could to avoid a pocket veto of the measure. On May 3 the Senate passed H.J. Res. 66 by a... READ MORE

When it comes to retirement finances beyond Social Security, Americans are depending on just two primary sources, according to a new report.Not surprisingly, home equity and retirement accounts — 401(k)-type plans and IRAs — account for nearly all the assets that many families have to depend on in... READ MORE

With the DOL conflict-of-interest rule, retirement plan opportunities are everywhere. For the expert, seasoned advisor, this is a golden marketing event. Today, 91% of retirement plans are serviced by retail wealth management advisors; it should be an easy conversation to influence plan sponsors... READ MORE

A lawsuit accusing Principal Life Insurance Co. of taking excessive profits from the guaranteed investment products it sells to 401(k)s has been certified as a class action.The suit (Rozo v. Principal Life Ins. Co., S.D. Iowa, No. 4:14-cv-00463-JAJ-CFB, 5/12/17), brought by plaintiff Frederick Rozo... READ MORE

A new whitepaper raises three questions regarding the structure, management and cost-benefit balance of different fixed income strategies in considering an appropriate target-date fund for a DC plan.The authors of the whitepaper  — JP Morgan Asset Management’s Daniel Oldroyd, Portfolio Manager and... READ MORE

At a recent policy forum sponsored by the Employee Benefit Research Institute, Catherine Collinson, President of the Transamerica Center for Retirement Studies, outlined five ways to “fix” the current Saver’s Credit.The credit helps offset part of the first $2,000 ($4,000, for joint filers) workers... READ MORE

The second of the university excessive fee cases has gotten a hearing on motions to dismiss – and it’s a definite case of win some, lose some.This suit involved Duke University, which had been charged with a series of fiduciary breaches, including providing “…a dizzying array of duplicative funds... READ MORE

In less than a month, the new “transition” exemptions will apply to recommendations for IRAs. Fred Reish looks at how to prepare for that shift.In a recent blog post, Reish explains that if an adviser and its supervisory entity are “pure” level fee fiduciaries, there will not be a prohibited... READ MORE