Compliance January 27th, 2023 States’ Suit Could Delay DOL Rule on ESG Investing Rule to permit ESG considerations is due to take effect on Monday, but a federal lawsuit aims to derail it.
Compliance January 26th, 2023 SEC Proposal Would Restrict Conflicted Asset-Backed Securities The proposal seeks to implement a provision in the Dodd-Frank financial reform law and would prevent asset-backed security issuers from...
Compliance January 25th, 2023 SECURE 2.0 Error Threatens Catch-Up Contributions, but Meaning Is Clear A mistake in SECURE 2.0 legislation would eliminate both future and existing retirement plan catch-up contributions, though IRS interpretation to...
Compliance January 24th, 2023 FINRA Head to Leave After More Than 2 Years in Role Jessica Hopper, head of the influential securities regulator for the brokerage industry, is stepping down in February, with Christopher Kelly...
Compliance January 24th, 2023 Allianz Asset Management 401(k) Participants Allege Self-Dealing Two participants in the Allianz 401(k) plan allege the asset manager maintained an all-proprietary fund lineup that included expensive, underperforming...
Compliance January 20th, 2023 Regulatory and Statutory Changes Coming to Self-Corrections Programs Plans will find more room to correct their own mistakes under SECURE 2.0 and a DOL proposed rule change.
Compliance January 19th, 2023 Small Businesses and SECURE 2.0: Exemptions and Tax Credits SECURE 2.0 offers tax credits to create plans, as well as to join existing PEPs and MEPs.
Compliance January 19th, 2023 DOL Contractor Rule Threatened by 20% Adviser Quit Rate An FSI survey shows independent advisers would retire before being classified as employee as the DOL mulls tens of thousands...
Compliance January 18th, 2023 Sports Agency Owner Charged for Allegedly Stealing Retirement Assets The Houston-based sports agent was served a civil suit by the Department of Labor for allegedly dipping into employee retirement...
Compliance January 17th, 2023 ERISA Suit Against Deloitte Dismissed The lawsuit alleged that Deloitte’s 401(k) plan fees were excessive compared to similar plans.
Compliance January 12th, 2023 529s and ABLE Accounts Both Get a Boost from SECURE 2.0 The changes make it possible to roll over 529s into Roth IRAs and easier to qualify for an ABLE account.
Compliance January 10th, 2023 Age-Specific Changes Found in SECURE 2.0 SECURE increases the RMD age and expands the amount of catch-up contributions certain participants can make.
Compliance January 10th, 2023 DOL to Consult Industry on How To “Facilitate” PEP Uptake Among items on DOL/EBSA's agenda: speaking with retirement plan service providers, employers and employees on what regulators can do to...
Compliance January 9th, 2023 IRS: Remote Notarization, a Pandemic Development, May Stay The rule would codify relief from ‘physical presence’ rules for retirement plan elections that was first granted during the height...
Compliance January 9th, 2023 How SECURE 2.0 Will Affect New Plan Creation The two main provisions affecting new plan creation are required automatic features and more generous tax credits.
Compliance January 9th, 2023 FTC’s Noncompete Ban Would Hit Retirement, RIA Consolidation A proposed ban on noncompete contracts by the FTC would likely have implications for the RIA firms some retirement advisories...
Compliance January 6th, 2023 After Committee Change, SECURE 2.0 Does Not Allow CITs in 403(b)s The language required to allow CITs in 403(b) plans was dropped in the final bill after inter-committee negotiations.
Compliance January 5th, 2023 Court Dismisses 403(b) ERISA Claim Against Employer, But Not the Plan’s Adviser The sponsor, a Texas counseling service, was protected by a safe harbor provision, but the adviser might not be so...
Compliance January 4th, 2023 ERISA Lawsuit Filed Against Ventura Foods The suit alleges Ventura did not monitor high fees and underperformance of the funds in its investment menu.
Compliance January 3rd, 2023 Implementing SECURE’s Emergency Savings Provisions Emergency savings options within retirement plans will finally be possible in 2024. But implementing them will require work that might...