Monthly Archives: September 2022

If you own a restaurant, it’s a bad look if the employees order takeout. If you own a mutual fund company, it’s a bad look if you have other fund companies’ funds in your 401(k) plan. The problem as a … Continue reading →

Wells Fargo has agreed to pay agreed to a $145 million settlement in connection with a Department of Labor (DOL) investigation into the bank allegedly overcharging employees for stock. The DOL and the bank announced that Wells Fargo will put … Continue reading →

To avoid headaches, I just think it’s important to prune former employees from the list of participants with an active balance. As I always say, a former employee is always going to complain a lot more than a current employee. … Continue reading →

As a plan fiduciary for hundreds of millions of dollars and with a lot of ERISA knowledge, I can see things a mile away. One of the plan providers that work on one of my plans showed me a litany … Continue reading →

My latest article on JDSupra.com can be found here.

My latest article for JDSupra.com can be found here.

Johnnie Cochran could have been an ERISA attorney. The man who claimed: “if it doesn’t fit, you must acquit” would have made a great ERISA attorney because he would tell his clients that a retirement plan must fit like a … Continue reading →

At least 11 companies, including Booz Allen Hamilton Inc., Citigroup Inc., and Microsoft Corp., have been named in a series of lawsuits going after a target-date index suite that is managed by BlackRock Inc. A big part of the lawsuits … Continue reading →

Revising 1975 issued guidance, the Department of Labor released Interpretive Bulletin 2022-01, which updates the “independence” requirement for accountants who audit employee benefit plans under section 103(a)(3)(A) of the Employee Retirement Income Security Act. The Bulletin revises and restates the … Continue reading →

A federal appellate court says that the Labor Department is allowed to pursue its inquiry into the cybersecurity practices at a large recordkeeper. Judge Michael B. Brennan of the U.S. Court of Appeals for the Seventh Circuit says that the … Continue reading →