By Jeremy Root
ERISA Plan Participant must plead meaningful benchmarks to establish a claim for breach of fiduciary duty.
Just as we went to press, we learned that several financial industry groups have sued the Department of Labor in an effort to block implementation of its new fiduciary standard rule.
Following through on a commitment made in November, a group of Democratic and Republican Members of the House have introduced legislation to halt DOL fiduciary rulemaking and establish a different standard for those offering retirement investment advice.
No. 10 Civ. 954 (LTS)(GWG), 2014 U.S. Dist. LEXIS 51486 (S.D. N.Y., 4/11/14). Account Administration * ERISA (§§3(21)(A)(i), (ii), 3(38)) * Statutory Definitions (“Fiduciary;” “Investment Manager”) * FRCP (Rule 56) * Fiduciary Standards (Investment Advisers) * Insurance Issues * Pension/Profit Sharing Plans * Scope of Liability Issues (Account Transfers;