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- May It Please The Court: THE EBSA’s Legally Unsupported, Unfounded, and Bootstrapped Policies Create a Systemic Threat to Plan Participants and Plan Sponsors Alike and Must Be Rejected
- A Call for Senate Oversight Hearings: The Systemic Risk to Plan Sponsors and Plan Participants Created by the EBSA’s Expansive and Legally Unsupported Extrapolations of ERISA Fiduciary Principles
- DOL/EBSA Field Assistance Bulletin 2026-01 Is Not Entitled to Judicial Deference Under The Loper Bright Decision
- Fatally Flawed: Why DOL Administrative Bulletin 2026-01 Will Not, and Should Not, Withstand Judicial Scrutiny
- Terminal Wealth: The True Fiduciary Prudence Paradigm with Regard to the In-Plan Annuity Scam
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Tag Archives: fiduciary liability
401(k) InvestSense: Focus on Fiduciary Process Over Product
By James W. Watkins, III, J.D., CFP Board Emeritus™, AWMA® People often ask me what is the most common mistake that plan sponsors make, The answer is simple-assuming unnecessary fiduciary liability exposure by focusing on product rather than process. Actually, … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, AMVR, Annuities, best interest, closet index funds, compliance, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k fiduciary, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibilities, fiduciary risk management, fiduciary standard, fiduciaryliability, fiduciaryoversight, investment advisers, retirement plans
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Brotherston Revisited: Will the 10th Circuit Court of Appeals “Fix” the Ongoing 401(k) SNAFU?
“Facts do not cease to exist because they are ignored” – Aldous Huxley In 2018, the First Circuit handed down its decision in Brotherston v. Putnam Investments, LLC.1 The decision is arguably the best analysis of the applicable fiduciary standards … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, closet index funds, compliance, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, Reg BI, retirement planning, retirement plans, SCOTUS, Supreme Court
Tagged 401k, 401k compliance, 401k litigation, 401k plans, compliance, ERISA, ERISA litigation, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary risk management, investment advisers, retirement plans
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401(k) Litigation Trends to Watch in 2023
I am often asked what I see as the current trends in 401(k) and what fiduciary risk management steps plan sponsors should consider in order to reduce any potential fiduciary risk exposure. With the end of the year approaching, now … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, Active Management Value Ratio, AMVR, compliance, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investments, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, SCOTUS, securities compliance, Supreme Court
Tagged 401k, 401k compliance, 403b, compliance, ERISA, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, investment advisers, Restatement Trusts, retirement plans
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Annuities, SECURE 2.0, and Fiduciary Law
While there has been much speculation and anticipation about the possible passage of SECURE 2.0, the recent events involving cryptocurrency, reportedly a major component of SECURE 2.0, appears to make its passage before the end of the year doubtful. The … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, Annuities, compliance, cost-efficiency, elderly investment fraud, ERISA, ERISA litigation, fiduciary, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, pension plans, plan advisers, plan sponsors, prudence, retirement planning, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, Annuities, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, fiduciary responsibility, fiduciary risk management, investment advisers, retirement plans, risk management
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What If They Are Wrong?: How Court Decisions Impact 401(k) and 403(b) Plan Sponsors’ Fiduciary Risk Management Decisions
As an attorney and a fiduciary risk management consultant, my first thought when SCOTUS announced its decision in Hughes v. Northwestern University1 (Northwestern) was the renewed potential fiduciary risk liability for the plan sponsors. During the oral arguments, SCOTUS was … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, AMVR, compliance, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, Mutual funds, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, SCOTUS, Supreme Court, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k litigation, compliance, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, investment advisers, retirement plans, SCOTUS, Supreme Court
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Who Will Tell the Plan Sponsors?: The Truth About the Looming Fiduciary Liability Trap in 401(k) and 403(b) Litigation
I have been reading a number of articles from some very impressive law firms suggesting that the attorneys for 401(k)/403(b) firms should file combine motions to dismiss with motions for summary judgment in order to deny plan participants from obtaining … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, AMVR, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, pension plans, plan advisers, plan sponsors, prudence, retirement plans, risk management, SCOTUS, Supreme Court, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k fiduciary, 401k litigation, 401k plan advisers, 401k plans, 403b, 404c compliance, compliance, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary risk management, fiduciary standard, fiduciaryliability, fiduciaryresponsibility, investment advisers, plan sponsor, plan sponsors, retirement plans, SCOTUS, Supreme Court
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Target Date Funds Have Now Become the Targets of 401(k) Litigation (Part 2)
In my last post, I analyzed the popular Fidelity Freedom Active Suite and Fidelity Freedom Index target date funds. The Fidelity Freedom and TIAA-CREF Lifestyle target date funds are arguably the two most popular groups of target date funds in … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, 403b, Active Management Value Ratio, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, investments, Mutual funds, pension plans, plan sponsors, prudence, retirement planning, retirement plans, risk management, wealth management, wealth preservation
Tagged 401k, 401k compliance, 404c compliance, compliance, fiduciary, fiduciary duty, fiduciary investing, fiduciary law, fiduciary liability, fiduciary risk management, investment advisers, investor protection, retirement plans
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SCOTUS, We Still Have a Serious Problem: The Continuing Inconsistency in Judicial Interpretations of ERISA
Just when you thought it was safe to go back in the water, the Sixth Circuit issues its decision in Smith v. CommonSpirit Health (CommonSpirit).1 The Sixth Circuit dismissed the plan participant’s action, largely upon the familiar argument that market … Continue reading
Posted in 401k, 401k compliance, 401k investments, 401k plan design, 401k risk management, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, pension plans, plan sponsors, risk management
Tagged 401k, 401k compliance, 404c compliance, compliance, ERISA, ERISA litigation, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, retirement plans, SCOTUS
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Brotherston v. CommonSpirit Health: An Opportunity, and a Need, to Shift the 401(k) Litigation Paradigm
In the midst of chaos, there is also opportunity – Sun Tzu As an ERISA attorney, the Sixth Circuit’s recent CommonSpirit Health (CommonSpirit) decision1 concerns me. First, the Court completely ignored the First Circuit’s Brotherston decision2, the Restatement (Third) of … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, AMVR, cost consciousness, cost-efficiency, Cost_Efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, Mutual funds, pension plans, plan sponsors, prudence, risk management, SEC, wealth management, wealth preservation
Tagged 401k, 401k compliance, 401k plans, 403b, 404c compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary standard, retirement plans
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The Conversation Every 401(k) and 403(b) Plan Needs to Have: The Plan Sponsor Liability Circle™
James W. Watkins, III, J.D., CFP®, AWMA® Whenever plan sponsors and plan advisers talk about 401(k) litigation, they always point the finger at those bad ‘ol ERISA plaintiff attorneys. Since I am one of those bad folks, I respectfully disagree … Continue reading
Posted in 401k, 401k compliance, 401k investments, 403b, Active Management Value Ratio, best interest, compliance, consumer protection, cost consciousness, cost efficient, cost-efficiency, ERISA, ERISA litigation, fiduciary compliance, fiduciary duty, fiduciary law, fiduciary liability, fiduciary liability, Fiduciary prudence, fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, investment advisers, Mutual funds, pension plans, plan sponsors, prudence, Reg BI, retirement planning, retirement plans, risk management, securities compliance
Tagged 401k, 401k compliance, 401k risk management, 404c compliance, compliance, ERISA, fiduciary, fiduciary investing, fiduciary law, fiduciary liability, Fiduciary prudence, fiduciary responsibility, fiduciary risk management, fiduciary standard, retirement plans, risk management
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