Compliance October 3rd, 2022 Home Depot Victorious in ERISA Suit The judge ruled that even though Home Depot may have followed an imprudent process for choosing investments, the plaintiffs were...
Compliance September 30th, 2022 Interim Funding Bill Heads to President’s Desk The House passes a continuing resolution to keep the government open and provide specific funding for aid to Ukraine and...
Compliance September 29th, 2022 Wells Fargo Is Targeted in ERISA Lawsuit Alleging Self-Dealing The Wells Fargo retirement plan fiduciaries are accused of engaging in prohibited transactions and breaching their fiduciary duty to participants.
Compliance September 29th, 2022 IRS Extends Plan Amendment Deadlines for CARES Act Provisions Deadlines have also been extended to amend plans for certain provisions of the Taxpayer Certainty and Disaster Tax Relief Act.
Compliance September 29th, 2022 Gomez Confirmed as New Head of EBSA The full Senate voted, 49-36, to confirm Lisa Gomez as the new assistant secretary of labor for the Employee Benefits...
Compliance September 28th, 2022 SEC Charges 16 Firms With Failing to Preserve Electronic Communications The firms have admitted to the wrongdoing and will pay penalties of more than $1.1 billion.
Compliance September 28th, 2022 What Is the DOL’s Plan If the Government Shuts Down? Like most organs of the federal government, the Labor Department maintains an explicit policy for government shutdowns as a consequence...
Compliance September 26th, 2022 Lawsuit For Wake Forest University Retirement Plan Proceeds The judge has allowed the case to go forward and the ‘plaintiffs should be afforded an opportunity to conduct discovery.’
Compliance September 26th, 2022 ERISA Suit Against Exelon Dismissed The plaintiffs had alleged that their employer maintained expensive and low-performing investment options for plan participants.
Compliance September 23rd, 2022 New Advisory Group on Preventing Senior Scams to Meet Next Week The advisory group was established by the Stop Senior Scams Act, passed in March, and is charged with developing strategies...
Compliance September 23rd, 2022 Parties Reach Preliminary Settlement in 16-Year ERISA Lawsuit Plaintiffs agree to settle for $267 million in a class action suit that alleged that PricewaterhouseCoopers LLP undercalculated lump-sum payments...
Compliance September 22nd, 2022 All 3 Defendants Move to Dismiss Cybersecurity ERISA Suit The defendants are accused of ignoring several red flags, resulting in over $750,000 being stolen from a retirement account.
Compliance September 21st, 2022 Maryland’s State-Run Retirement Program Officially Launches The program will also help employees build emergency savings through an automatic payroll deduction.
Compliance September 20th, 2022 SEC Risk Alert Addresses Marketing Rule Compliance Examinations The SEC’s new marketing rule is set to take effect on November 4, and the agency’s Division of Examinations says...
Compliance September 19th, 2022 Judge Rules in Favor of Goldman Sachs in ERISA Suit A federal judge rules that Goldman Sachs did not privilege its own mutual funds at the expense of retirement plan...
Compliance September 16th, 2022 Janus Henderson Sued for Allegedly Favoring Its Own Funds in Its Retirement Plan Class action lawsuit claims firm loaded its 401(k) plan with high-fee, underperforming proprietary funds.
Compliance September 13th, 2022 PANC 2022: Reg BI Compliance Tips From the SEC The enforcement of Regulation Best Interest is currently one of the major projects at the Securities and Exchange Commission.
Compliance September 12th, 2022 Senator Calls for Confirmation Vote on Assistant Secretary of Labor Nominee Senator Patty Murray takes the 48th anniversary of ERISA to emphasize the importance of having a proper secretary to oversee...
Compliance September 9th, 2022 Senate Finance Committee Proposes Final Text for EARN Act The fully amended bill clarifies the Senate's position on retirement reform, as the Senate and House approach a final deal expected late this year.
Compliance September 8th, 2022 3rd Circuit Backs J&J in Stock-Drop Appeal A new order emphasizes that a stock-drop plaintiff must do more than allege a general economic theory of why earlier...