The ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs and... Read More
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Technical competence
BY John Ortman | 7/9/2014
Stephen Rosenberg of The McCormack Firm, LLC in Boston offers a concise summary of the meaning of the U.S. Supreme Court’s recent Fifth Third Bancorp v. Dudenhoeffer case. Rosenberg’s... Read More
BY Jerry Bramlett | 7/8/2014
The Wall Street Journal published an article July 6 entitled, “Percentages vs. Dollars — a Battle for Investors' Attention.” Basically, the article contends that, “... Read More
BY John Carl | 7/7/2014
The ERISA consultants at the Columbia Management Retirement Learning Center Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs and... Read More
BY Fred Barstein | 7/3/2014
When it comes to the DOL’s fiduciary rule, most of the focus within the DC industry has been on the effect the rule would have on advisors. But make no mistake: Record keepers are keenly aware of... Read More
BY Fred Barstein | 7/1/2014
Will the U.S. Supreme Court’s recent decision overturning the so-called Moench presumption of prudence for company stock spawn a new wave of lawsuits by the plaintiff’s bar? It looks that way, with a... Read More
BY John Iekel | 6/16/2014
You may have a diploma on the wall, but learning never stops. Or at least it shouldn’t — and fiduciary skills are no exception to the wisdom of expanding knowledge and making sure one is equipped to... Read More
BY John Iekel | 6/13/2014
Funds held in inherited IRAs are not retirement funds and must be included in a bankruptcy estate, the U.S. Supreme Court ruled June 12. The Court’s 9-0 ruling in Clark v. Rameker, No. 13-299 (U.S. 6... Read More
BY Fred Barstein | 6/9/2014
Speaking at a Municipal Securities Regulator Summit, SEC Commissioner Daniel Gallagher warned that the unfunded pension and health care obligations of states and municipalities could be much worse... Read More
BY Fred Barstein | 6/6/2014
When it comes to ERISA fiduciary warranties, a Bloomberg/BNA report warns: buyer beware. Experts say that many of the warranties offered by providers, which are intended to protect plan sponsors from... Read More
BY Fred Barstein | 5/22/2014
To dispel the rumor that Detroit workers can avoid cuts to their pensions by retiring early, Detroit held a series of forums led by the spokesperson for the city’s Emergency Manager. The forums were... Read More
BY Fred Barstein | 5/21/2014
During the Stockton, Calif. bankruptcy trial last week, Judge Christopher Klein implied that cutting pension obligations is not off the table — perhaps following the lead of Detroit Bankruptcy Judge... Read More
BY Fred Barstein | 5/21/2014
Worried that the SEC might miss the next Ponzi scheme because of its limited resources, Commissioner Daniel Gallagher suggested that RIAs be forced to hire third parties to conduct examinations.... Read More
BY Fred Barstein | 5/19/2014
In a speech last week in Washington, New Jersey Gov. Chris Christie (R) laid the groundwork for moving more state workers into a blended 401(k)/DB plan to fill a $807 million hole in the state’s $33... Read More
BY Fred Barstein | 5/9/2014
Speaking at a Washington legislative update meeting on May 5, EBSA Director Phyllis Borzi said that while there is no set date for the redefinition of fiduciary rule, she will not wait forever. Most... Read More
BY Fred Barstein | 5/7/2014
Remember the good old days when everyone retired with a DB pension? If you do, your memory is not very good, according to many speakers at a session that The Pension Research Council held at Wharton... Read More
BY John Ortman | 5/2/2014
Where will the next generation of plan sponsor fiduciaries be developed? Is it sufficient to have new fiduciaries spawned from the ranks on an “as-needed” basis? Why is the role of plan sponsor... Read More
BY Fred Barstein | 4/30/2014
Reacting to a forensic investigation initiated by state employees, North Carolina’s $87 billion state pension system may be moving from a sole trustee to a board soon. As reported in P... Read More
BY Fred Barstein | 4/17/2014
Settlements were reached this week regarding Detroit’s pensions that would significantly roll back previously proposed cuts. Under the terms of the proposals, there would be no cuts in benefits for... Read More
BY Fred Barstein | 4/14/2014
According to a New York Times article, the next land mine to blow up in the pension world could be the pooled multiemployer plans used by unions. The Congressional Budget Office estimates that the... Read More
BY John Iekel | 3/24/2014
“These are watershed times,” remarked Pentegra Retirement Services' Pete Swisher of the now-years long Department of Labor effort to change the definition of fiduciary. Swisher made his comments in a... Read More
BY Fred Barstein | 3/17/2014
It seems like every time EBSA director Phyllis Borzi makes an appearance, she also makes news. According to an Investment News article about Borzi’s speech at a Financial Services Roundtable event on... Read More
BY John Iekel | 3/16/2014
The Department of Labor has hired a contractor to gather input from plan fiduciaries on its March 11 proposed rule requiring service providers to furnish a guide to their 408(b)(2) disclosure... Read More
BY John Iekel | 3/11/2014
The news about public-sector pension plans has not been good, and a reputable crystal ball does not see improvement in sight. The "Pension Pulse" blog reports that Berkshire Hathaway Chief Executive... Read More
BY Fred Barstein | 3/6/2014
The SEC is asking for a 26% increase in its FY 2015 budget, to $1.7 billion, much of whom would be used to hire additional examiners. The additional funding would allow the agency to hire 639 more... Read More
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