TITLE

Aiming high: New DOL regulations raise the bar for plan fiduciaries

AUTHOR(S)
STOLZ, RICHARD
PUB. DATE
August 2011
SOURCE
Employee Benefit News;Aug2011, Vol. 25 Issue 10, p23
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the extension of the compliance for the new disclosure rules under section 408(b) (2) of the U.S. Employee Retirement Income Security Act of 1974 by the U.S. Department of Labor (DOL) until January 1, 2012. It says that the extension will provide time for retirement plan service providers to disclose their plan fiduciary status to sponsors. Legal contributor Frank Palmieri adds that the assessment of fiduciary's fulfillment lies in the application of procedural prudence.
ACCESSION #
64362351

 

Related Articles

  • Once More Unto the Breach--The New "Fiduciary" Definition.  // Venulex Legal Summaries;2015 Q2, p1 

    The author discusses the proposed regulations of the U.S. Department of Labor (DOL) which involve the definition of the term "fiduciary" in retirement planning. Topics explored include the perceived benefits of these regulations to individual retirement account (IRA) owners, the fiduciary duty...

  • A Modest Proposal.  // Plan Sponsor;Nov2011, p12 

    This article discusses the U.S. Department of Labor's (DoL) proposed redefinition of fiduciary which was withdrawn. The proposal raised an issue on the remuneration of consultants/third party administrators (TPAs)/recordkeepers for advice on constructing a fund menu. The concern is reportedly...

  • Redefining "Fiduciary". Ward, Judy // Plan Sponsor;Dec2011, p11 

    The article discusses the importance of the U.S. Department of Labor's (DoL) re-proposal of plan fiduciary guidelines. The proposal, which is expected to be re-proposed in 2012 following the October 2010 filing of the original proposal to expand the definition of the term fiduciary, would affect...

  • "Net" Assessment.  // Plan Sponsor;Jun2011, p13 

    The article reports on the proposal of the U.S. Department of Labor (DoL) to expand the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) section 3(21). The proposal covers investment advisers and providers of valuation services to employee benefit plans. Some...

  • Targeting Date Funds.  // Plan Sponsor;Jun2011, p14 

    The article discusses the U.S. Department of Labor's (DoL) ERISA Advisory Council's report on target-date funds (TDF). In the report, the council has emphasized the importance of fiduciaries performing their oversight functions. It notes that many fiduciaries are not aware of their duties or how...

  • Detailed Fiduciary Rule FAQ Published By DOL. Manganaro, John // Plan Advisor News;10/27/2016, p1 

    The article reports on frequently asked questions (FAQ) document released by the U.S. Department of Labor based on the responses received from the financial services industry in regards to finalization of fiduciary standard under Employee Retirement Income Security Act (ERISA).

  • Detailed Fiduciary Rule FAQ Published By DOL. Manganaro, John // Plan Advisor News;10/28/2016, p8 

    The article presents information on the in-depth Frequently Asked Questions (FAQ) guidance from the U.S. Department of Labor (DOL) on the new fiduciary standard to be implemented in the country in 2017 under the Employee Retirement Income Security Act (ERISA).

  • Definition "Null"?  // Plan Sponsor;Jan2011, p13 

    The article discusses the U.S. Department of Labor's (DoL) proposed regulation released on October 21, 2010 broadening the circumstances under which a person providing investment advise would be deemed a fiduciary. It notes that the proposal varies significantly from the five-part test used for...

  • Interests Bearing. Adams, Nevin E. // Plan Sponsor;Nov2010, p3 

    The author comments on the proposal issued by the U.S. Department of Labor (DoL), which would provide the first update to the definition of an Employee Retirement Income Security Act of 1974 (ERISA) fiduciary. He believes that DoL wanted to narrow the exceptions to that definition and, in the...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics