New York Life Settles Excess Fee Fiduciary Lawsuit for $3 Million

New York Life Settles Excess Fee Fiduciary Lawsuit for $3 Million

The participants in each of the New York Life Insurance profit sharing and 401(k) plans had a complaint – they found out that the S&P 500 Index Fund offered as a designated investment alternative in their plans was much more expensive than other S&P 500 Index funds in the market, and had been for six years.

Are The New DOL Fiduciary Rules Still Relevant?

Are The New DOL Fiduciary Rules Still Relevant?

With the change in the administration, and President Trump’s statements vowing to rescind most of the federal regulations adopted during the Obama administration, it is natural to wonder if the Department of Labor’s revised fiduciary rules, which are scheduled for implementation beginning April 10, 2017, are still applicable.