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Fiduciary

Groups Debate Effects of Plan Fee Litigation In Competing Supreme Court Amicus Briefs

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The effect of plan fee litigation on workers’ retirement savings has sharply divided various industry groups, which filed competing amicus briefs with the U.S. Supreme Court in an upcoming case involving Section 401(k) plan fees (Tibble v. Edison Int’l, U.S., No. 13-550, arguments scheduled 2/24/15).

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Obama Attacks Advisors Selling Snake Oil, Lauds New DOL Fiduciary Rule

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Take two. President Barack Obama today called on the Department of Labor to move forward with a proposed rulemaking to require retirement advisers to put their clients’ best interest before their own profits. It’s a rewrite of the dropped 2010 rewrite of the 40-year-old fiduciary rule. (The 2010 rewrite was withdrawn in 2011 amidst industry furor.)

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Justices Wrestle With Monitoring Duties Of 401(k) Fiduciaries During Oral Argument

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Whether 401(k) plan fiduciaries in monitoring investments must look for cheaper options was the question dividing justices and litigants when the U.S. Supreme Court heard oral argument Feb. 24 in a case involving the time frame in which plan participants can challenge their plan's investment options.

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Pension Rights Center Applauds Labor Department’s Release of Proposed Rule on Conflicted Investment Advice to OMB

News Release

Washington – In a long-awaited move towards protecting millions of workers and retirees by stopping conflicted financial advice in retirement savings plans, the U.S. Department of Labor (DOL) today sent a proposed fiduciary regulation to the Office of Management and Budget (OMB), which now has up to 90 days to review the rule.

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Retirement Savings Flows and Financial Advice: Should You Roll Over Your 401(k) Plan?

Publication

This paper addresses several issues relating to rollovers from 401(k) plans to IRAs, including the extent of inertia among pension participants, the extent to which defaults (which are to not rollover) are effective in influencing behavior of participants, the extent of financial errors made by pension participants, the quality of advice pension participants are receiving (and how that may be a

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High-Court Spotlight Put on 401(k) Plans Supreme Court to hear arguments in case that could have broad implications for the way people save for retirement

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The U.S. Supreme Court is scheduled to hear arguments Tuesday in a case that could have broad implications for the way millions of Americans save for retirement. The court will focus on a narrow issue concerning the statute of limitations in the case, called Tibble v. Edison International.

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Fiduciary breach issue gets Supreme Court hearing

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The U.S. Supreme Court is scheduled to hear arguments next month in an ERISA case that could greatly expand guidelines for defined contribution plan executives' fiduciary responsibilities.

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Obama Signals Support for DOL Fiduciary Redraft

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DOL fiduciary redraft said to be heading to OMB any day as opponents and supporters prepare for battle

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Court Watchers Looking at Plan Fees, Retiree Benefits, Church Plans in 2015

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Just as 2014 brought big rulings on stock-drop litigation and equitable remedies like reformation and surcharge, 2015 is shaping up to be another big year for ERISA litigation, with pending cases involving retiree health benefits, plan fee cases and ERISA's church plan exemption.

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Fiduciary Re-Proposal, Fee Disclosures On Deck for 2015; MEPs Wait in the Wings

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Top employee benefit issues for the Department of Labor in 2015 are similar to those in 2014: a re-proposal that would expand the definition of "fiduciary" under the Employee Retirement Income Security Act and guidance on plan fee disclosures.

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