The risks entailed in fiduciary duty gave rise to fiduciary insurance. But what affects the premiums charged for that insurance? A recent report gives an inside look at what fiduciary... Read More
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Fiduciary Governance
BY NAPA Net Staff | 7/26/2021
Cybersecurity is a hot topic these days, with a new ransomware attack or data breach in the news nearly every day, not to mention recent guidance—and word of audit questions—from the Labor Department... Read More
BY Nevin E. Adams, JD | 7/20/2021
Every plan has participants—and, sooner or later, will therefore have “ex” participants—and sometimes those participants go…missing. And that can be a real problem for retirement plan fiduciaries... Read More
BY Michael P. Barry | 7/20/2021
While Hughes involves 403(b) plans, the issues in it are effectively identical to those in the 401(k) fee litigation that has plagued our industry for nearly two decades.
On July 2, 2021... Read More
BY Ted Godbout | 7/9/2021
Thinking about engaging a 3(21) or a 3(38) fiduciary? A new podcast by CAPTRUST discusses some of the key distinctions in terms of the risks and responsibilities.
In the latest episode of “... Read More
BY Nevin E. Adams, JD | 6/29/2021
The study of history is a passion of mine, and while it seems a bit trite, the old adage that those who don’t remember the past are doomed to repeat it seems more apropos by the day. Regardless, I... Read More
BY Ted Godbout | 6/29/2021
Congress’ investigative arm is encouraging the federal employees’ retirement plan to evaluate the financial risks that climate change may pose to retirement plan investments, portending a broader... Read More
BY NAPA Net Staff | 6/21/2021
The who, what, when and how many of retirement plan committees, as well as some best practices.
It’s been said that a committee is a group that keeps minutes and loses hours, but... Read More
BY John Iekel | 3/16/2021
The Government Accountability Office has added its voice to those that highlight the critical importance of cybersecurity, but they go one better. In a new report, they call on the Department of... Read More
BY Nevin E. Adams, JD | 10/27/2020
Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. And sometimes it’s just a good time to think about the things that... Read More
BY Nevin E. Adams, JD | 3/9/2020
There may be a whole new focus emerging with regard to excessive fee litigation.
Last week a reader shared with us an “Excessive Fee Questionnaire Regarding Defined Contribution Plans.” This... Read More
BY John Iekel | 3/3/2020
The IRS and the Department of Labor should strengthen their oversight of executive retirement plans, the Government Accountability Office says in a recently released report.
In “Private Pensions:... Read More
BY John Iekel | 11/4/2019
Group dynamics exert a powerful influence when a retirement plan committee is making a decision. An industry expert recently offered his take on the consequences of that phenomenon.
At an Oct... Read More
BY Nevin E. Adams, JD | 10/29/2019
Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. But what keeps – or should keep – plan fiduciaries up at night... Read More
BY Ted Godbout | 10/16/2019
According to a new white paper, a surprising number of plan sponsor representatives who oversee their companies’ 401(k) plans don’t realize they are fiduciaries under ERISA.
And some believe... Read More
BY Nevin E. Adams, JD | 8/26/2019
A former recordkeeper employee has been sentenced to four years in prison for stealing funds from dormant participant accounts.
United States Attorney William M. McSwain has announced that Scott... Read More
BY Nevin E. Adams, JD | 8/8/2019
Sir Isaac Newton’s Third Law of Physics says that, “for every action there is an equal and opposite reaction.” That also apparently applies to ERISA litigation.
On August 5, the law firm of... Read More
BY Nevin E. Adams, JD | 8/7/2019
While disputing allegations and denying liability, plan fiduciaries have announced the second largest monetary settlement to date regarding a university retirement plan.
This settlement – for $14,... Read More
BY Nevin E. Adams, JD | 8/5/2019
A “third party administrator fee” was used to skim more than $3.3 million from employees’ paychecks.
From 2013 through 2017, some 300 workers at Plainville, CT-based Ferguson Electric and Ferguson... Read More
BY Nevin E. Adams, JD | 7/2/2019
This week we’ll commemorate Independence Day – but with all of freedom’s lessons, there are certain things that plan committees (still) have in common with the Second Continental Congress.... Read More
BY Nevin E. Adams, JD | 6/24/2019
A participant-plaintiff’s appeal of a judgement denying his claims of a fiduciary breach by his employer has come up short.
This suit was brought by plaintiff Alexander Usenko, a former employee... Read More
BY Nevin E. Adams, JD | 6/20/2019
A plan sponsor fiduciary won their case in court, refuting allegations that they should have removed a fund from the plan’s investment menu.
The plaintiff in this case was one Marc J. Muri, an... Read More
BY Nevin E. Adams, JD | 6/18/2019
Plaintiffs Melissa Velazquez and Frances Fuentes-Noriega have submitted the terms of a proposed settlement with the court.
The parties had announced having come to terms last month – just days... Read More
BY Ted Godbout | 6/16/2019
Contending that the SEC’s new Regulation Best Interest falls short, the Massachusetts’ Secretary of the Commonwealth plans to enter the fiduciary rulemaking fray.
William Galvin announced June 14... Read More
BY Nevin E. Adams, JD | 5/21/2019
I was late to the Game of Thrones – and though its final season seems a bit “rushed” – there has been plenty to not only watch, but mull over in its eight-season run. And yet, as the series wound to... Read More
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