11.12.2023 03.30 CST
Recent court decision reiterates that provider fees are reasonable only of fiduciaries understand all income received by a provider as the result of providing services to a plan.
The U.S. Court of Appeals for the Ninth Circuit recently clarified fiduciaries’ obligation to consider all revenue received by a provider—even indirect revenue from third parties. The ruling relies heavily on 2012 DOL regulations and could prompt fiduciaries to be more insistent in obtaining comprehensive disclosure from providers on all their sources of income.
10.11.2023 02.56 CST
DOL takes another swing at redefining investment fiduciaries
The DOL has proposed regulations updating the definition of investment fiduciary. The proposed regulation seeks to create a uniform standard applicable to all investment advice provided to ERISA plans and to IRAs
12.07.2023 03.47 CDT
Yale takes fiduciary case to trial—and prevails
The jury found that Yale breached fiduciary duties and cause plan to pay excessive fees; at the same time the jury found that a fiduciary following a prudent process could have made the same decisions and awarded $0 in damages.