Excessive Fee Lawsuit Targets RK Fees
In the U.S. District Court for the Southern District of Ohio, a lawsuit was filed by plaintiff-participants Gregory Stark, William Gaff and Michael Lewin as representatives on behalf of participants in the $2.9 billion Keycorp…
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Novel SBA Guidance Simplifies Key PPP Provision
Partnering with the Treasury Department, The U.S. Small Business Administration launched novel guidance offering vital clarifications for individuals taking advantage of the Paycheck Protection Program. Published on June 12, the Interim Final Rule edits the…
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Asset-Weighted Expense Ratio Drops Again
Released on June 8th, an annual study examining trends in open-end mutual funds and exchange-trade funds found that the asset-weighted average expense ratio plummeted to 0.45% in 2019, slicing funds and ETFs nearly in half…
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Automatic Features Push Plan Participation and Contribution Rates Soar
Per the 2020 Universe Benchmarks report, the 2010s was deemed a decade of the defined contribution investor. Attributable to employers embracing automatic features, more employees participating in employee benefit plans, the average savings rate soared,…
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ARA Provides Guidance on PEP & PPP Issues
The American Retirement Association, or ARA, offered the Department of Labor a series of recommendations involving potential service arrangements and proposed fee arrangements, as well as what the covered transactions may be under the possible…
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Colorado’s Savings Plan Offers Employer Mandate
Colorado is expected to join states across the country in having a state-sponsored retirement savings plan for private sector employees, including a mandate for employers with greater than five workers that do not provide a…
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Safeguard Your Remote Workplace with Cyber Liability Insurance
A cyber-attack can not online bring your remote workforce to its knees, but damage your company for years to come. Operational continuity is paramount for establishments at the peak of fruitfulness, and during this pandemic,…
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Ohio Bill Legislation Creates Defined Benefit Plans
The Ohio House of Representatives crafted a defined benefit plan for workers of private sector employers. It is the first state proposal using a DB plan instead of a defined contribution plan. Introduced on May…
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DOL Approves Private Equity in TDFs
The Department of Labor has given the green light to private equity investments in professionally handled funds within 401(k)s. In a detailed Information Letter, the head of Division of Fiduciary Interpretations at the Employee Benefit…
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