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ERISA
Trends
- 1Appeals Court Rules Recordkeeper Contracts Can Be Plan Documents▼Recordkeeper Contracts Can Be Plan Documents, per Federal Appeals Court
A federal appeals court has ruled that recordkeeper contracts can qualify as plan documents under ERISA retirement plan rules. The decision matters for plan sponsors and fiduciaries, since document-retention and production obligations could extend to service provider agreements, potentially affecting compliance practices and litigation discovery duties across the retirement industry.
- 2Saver with $4 million 401(k) wary of adviser's rollover pitch●‘Seems like a conflict of interest, right?’ I have $4M in a 401(k) and an adviser wanted me to roll it over to an IRA for ‘better performance.’ What’s my move?
A saver with $4 million in a 401(k) is questioning whether to follow a financial adviser's advice to roll the money into an IRA for 'better performance,' suspecting a conflict of interest since advisers often earn commissions on such rollovers. The dilemma has drawn attention because rolling over a large balance can trigger higher fees, while 401(k) plans sometimes offer cheaper institutional fund options and stronger legal protections under ERISA. Commenters urge getting a fee-only fiduciary opinion before moving the money.
- 3Labor Department Wins Appeal Over Diverted Benefit Contributions▼DOL Prevails in Circuit Court Appeal Over Diverted Contributions, Unpaid Health Claims
The US Department of Labor has prevailed in a circuit court appeal concerning a case involving diverted employee benefit contributions and unpaid health claims. The ruling reinforces the department's enforcement authority under ERISA to recover funds that employers diverted from benefit plans and to secure payment of owed health claims for participants.
- 4Archaeologist slams museology course text for misrepresenting Darwin●Great mischaracterisation of Darwin by a science-illiterate ethnologist in this set text on my museology course. ”The al
Swedish archaeologist Martin Rundkvist is publicly criticising a set text on his museology course, saying it grossly mischaracterises Charles Darwin. The passage claims that nineteenth-century skull collecting reflected Darwinian evolutionism and its focus on the struggle for existence. Rundkvist calls the author, whom he describes as an ethnologist without scientific grounding, wrong, arguing the criticism of Darwin rests on a misreading.
- 5Telia starts blocking known fraud sites for all mobile customers●Telia börjar nu automatiskt blockera kända bedrägerisajter för alla sina mobilkunder. Tjänsten ska minska risken att anv
Swedish telecom operator Telia has begun automatically blocking known fraud websites for all of its mobile customers. The new protection service is designed to reduce the risk of users being tricked by fake sites used in phishing scams. The feature applies across devices, including both iPhone and Android, and is switched on by default rather than requiring customers to opt in.
- 6Supreme Court signals ruling favoring ERISA fiduciaries●Supreme Court seems poised to deliver win to ERISA fiduciaries – but how big?
The US Supreme Court appears ready to rule in favor of ERISA fiduciaries in a pending retirement-plan case, with lawyers and benefits specialists weighing how broad the decision will be. Commentators say the key open question is whether the Court delivers a narrow procedural win or a sweeping ruling that limits fiduciary liability claims under the Employee Retirement Income Security Act.