Compliance January 3rd, 2023 SECURE 2.0 Changes Backloading Test for Cash Balance Plans The retirement reform legislation requires interest credits to be “reasonable” and no higher than 6%.
Compliance December 30th, 2022 Biden Signs SECURE 2.0 Into Law The retirement reform legislation is now officially passed, with widespread industry support.
Compliance December 30th, 2022 Advisers, Lobbyists, and Service Providers Respond to SEC Outsourcing Proposal Some call for the SEC to drop the proposal; others want clarity on which outsourcing duties should be vetted; and...
Compliance December 29th, 2022 What Does SECURE 2.0 Mean For 403(b) Plans? Experts weigh in on how SECURE 2.0 may make 403(b) plans operate more like 401(k)s, including being able to participate...
Compliance December 28th, 2022 Swing Pricing Proposal Comment Period Remains Open Until Early February The proposal has been met with criticism from those in the retirement industry.
Compliance December 28th, 2022 BNY Mellon Dismissed, Alight, Colgate-Palmolive Remain in Retirement Theft Lawsuit A District Court judge dismissed BNY Mellon from an ERISA lawsuit, leaving defendants Alight Solutions and the Colgate-Palmolive employee relations...
Compliance December 27th, 2022 How Does One Implement a Student Loan Matching Benefit? SECURE 2.0 allows sponsors to offer retirement matching contributions for participant student loan payments.
Compliance December 23rd, 2022 Congress Passes SECURE 2.0, Forwarding Second Major Retirement Reform in Three Years The passage of sweeping policy to increase retirement saving among Americans now awaits presidential signature.
Compliance December 23rd, 2022 Xerox Has Preliminary Settlement In Excessive Fee Lawsuit The $4.1 million settlement is pending court approval.
Compliance December 22nd, 2022 Variable-Rate Premiums To Be Capped by SECURE 2.0 The variable premiums paid to PBGC would be un-indexed from inflation.
Compliance December 22nd, 2022 SECURE 2.0 Passes Senate as Industry Overwhelmingly Hopes for House Passage The bill, which is awaiting House vote, contains the most popular provisions while also giving time for actors to come...
Compliance December 21st, 2022 Adviser NFP Absolved in ERISA Case; Molina Healthcare and flexPATH Still Face Charges The plaintiffs in a suit against plan sponsor Molina Healthcare had sought to include advisory NFP for recommending “untested” TDFs....
Compliance December 21st, 2022 Employee Stock Ownership Plans To Get a Boost from Omnibus Package Provisions found in the Work Act and SECURE 2.0 Act, both parts of the spending package, are intended to promote...
Compliance December 20th, 2022 SECURE 2.0 Bill Contains Popular and Widely Anticipated Retirement Reforms Legislation now needs Congressional approval, along with the budget, and the president’s signature this week.
Compliance December 16th, 2022 Senator Braun and Congressman Barr Resolve to Overturn “Woke” ESG Rule The two legislators introduced a resolution Thursday that would invalidate the DOL’s new rule permitting ESG in retirement plans. It...
Compliance December 15th, 2022 SEC Votes to Advance Trading Proposals The four proposals aim to improve competition and transparency in securities trading.
Compliance December 15th, 2022 Certified Financial Planner Board Issues Crypto Guidelines The nonprofit warns financial planners that crypto-related assets “can be speculative and volatile.”
Compliance December 14th, 2022 Democrats Suggest SEC Should Reform Scope 3 Climate Disclosure Proposal Scope 3 disclosure requirements are losing support in Congress.
Compliance December 13th, 2022 Participants Regain $1.4 Billon Thanks to EBSA’s Interventions The largest category of plan money recovery was from enforcement actions.
Compliance December 12th, 2022 Expert Consensus: SECURE 2.0 May or May Not Pass Passage of the final bill depends on whether Congress can pass an annual budget.