Understanding PRT: Fiduciary and Admin Considerations
When transferring pension risk via a full or partial buy-in or buy-out, plan sponsors have a fiduciary obligation to ensure...
Compliance
Lawmakers Debut Pension Tracker Showing Rescued Plans
Legislation passed last year allows multiemployer plans in danger of becoming insolvent to apply for funds to cover participant benefit...
Settlement Agreement Reached in Land O’Lakes ERISA Suit
The case had been stayed in mid-2021 to give the parties a chance to explore mediation—a process that has now...
High Hopes for Legislative Progress in Late 2022
Taking a cue from the process that led to the adoption of the SECURE Act in late 2019, one retirement industry policy advocate says the odds are good...
Supreme Court Won’t Consider CalSavers ERISA Preemption Lawsuit
The move by the high court stops an advocacy organization’s effort to halt the program, which provides workplace retirement savings...
Lawsuit Questions Use of Revenue Sharing by Ricoh USA
According to the complaint, participants in the company’s 401(k) plan were harmed by paying higher fees than participants in similarly...
Coca-Cola Consolidated Settles ERISA Fiduciary Lawsuit for $3.5M
The settlement includes both monetary and nonmonetary aspects.
An SEC Regulatory Status Report
One expert attorney who works on Securities and Exchange Commission compliance issues says the regulator is feeling a growing sense of pressure to advance the Biden administration’s ambitious...
Analyzing Retirement Industry Cybersecurity Risks and Best Practices
A certain famous bank robber is said to have explained that he robbed banks because ‘that’s where the money is.’...
Legislators Introduce Bicameral Auto Re-Enroll Legislation
The bill would prompt employees who initially opt out of a retirement savings plan to reconsider every three years.
Council Recommends More Research About ‘Brokerage Window Only’ Plans
The ERISA Advisory Council declined to recommend additional regulations for brokerage windows in general, saying the costs outweigh the benefits.
Taylor Corp. Facing ERISA Recordkeeping Fee Suit
The lawsuit represents yet another case of a sub-$1 billion retirement plan finding itself the subject of excessive recordkeeping fee...
Plan Design Approaches to Help Plan Sponsors With Nondiscrimination Testing
Advisers can assist plan sponsors wrestling with how to pass IRS testing for qualified employer-sponsored retirement plans by explaining the...
Retirement Industry Rallies Around LIFE Act
The bill would amend the DOL’s current default investment safe harbor regulations to allow, but not require, a retirement plan’s default investment to include a limited investment in...
House HELP Committee Members Introduce Lifetime Income Legislation
The bill, which has been introduced in previous legislative sessions, would allow annuities to be a default investment in employer-provided...
Mixed Ruling Filed in NFP–flexPATH ERISA Lawsuit
The complicated ruling offers some support for the defendants’ arguments but allows other claims to proceed to discovery and trial.
ERISA Advisory Body Suggests Reviewing Plan Leakage Penalties
Its report studied ways the DOL can try to close the gaps in retirement savings based on rase, ethnicity and...
DOL Publishes RFI on Climate-Related Financial Risks to Savings
The Department of Labor wants help identifying actions it can take to safeguard employees’ savings and pensions from threats related...
SEC Votes to Propose New Cybersecurity Policy Rules
Under the proposal, registered investment advisers and investment companies would have to adopt and implement written cybersecurity policies and procedures ‘reasonably designed to address cybersecurity risks.’
A Reminder to Avoid Fraudulent Hardship Withdrawals
An individual in Ohio was recently indicted by a grand jury on charges that he fraudulently claimed the assets he...