New York City District Council of Carpenters Benefit Funds
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Retirement Planners and Administrators (RPA)
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Fringe Benefit Group
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TPA Retirement Plan Consultant EPIC RPS (TPA/DPS)
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Defined Contributions Compliance Consultant Loren D. Stark Company (LDSCO)
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Great Lakes Pension Associates, Inc.
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Senior Specialist 401k Recordkeeping T Bank N.A.
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Retirement Solutions Specialists
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Greenline Wealth Management
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Santomenno Case Illustrates High Stakes for Brokers If DOL Proposes New Fiduciary Rule (PDF)
fi360 Feb. 13, 2015
14 pages. "In an amicus brief opposing dismissal, the DOL avoided discussion of the current five-part definition of an ERISA fiduciary providing investment advice under section 3(21)(A)(ii) of ERISA. The Department seeks to discard this longstanding test of fiduciary status in lieu of a greatly expanded definition through a rulemaking. The Third Circuit's facts-intensive analysis and an industry brief supporting dismissal also review the proposed and current investment advice definitions. The result is a glimpse into the brave new world facing benefits brokers should the current policy debate over the DOL's fiduciary advice rule move from the abstract to a new litmus test for service providers." [Santomenno v. John Hancock Life Ins. Co., No. 13-3467 (3d Cir. Sept. 26, 2014)]
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