House Republican Appropriations Proposal Would Cut EBSA and Block Fiduciary Rule
The budget bill is unlikely to pass in its current form.
Compliance
Judge Dismisses 401(k) Excessive-Fee Lawsuit Against PNC Financial
A federal judge in Pennsylvania decided an an expert witness to the plaintiffs was unreliable, leading to a dismissal of the allegations.
Preparing for the Retirement Security Rule
Some provisions are set to come into effect in September.
DOL’s IB 95-1 Report Calls for Further Review of DB Pension De-Risking
The report from the DOL’s EBSA summarized the concerns of some stakeholders, but makes no recommendations of its own.
Plaintiff Lawyers Can Now Use AI To Identify Potential Plan Issues
Tech and legal firm Darrow uses AI as a tool for ERISA lawsuit allegations such as underperforming plans, excessive fees.
SECURE 2.0 Lost and Found Proposal Faces Industry Headwinds
ERIC and SPARK argue that the DOL’s data request goes beyond the intent of the statute and may create participant...
DOL Files Counter-Brief to Retirement Security Rule Challenge
The DOL counters an insurance industry lawsuit by arguing that the new rule is lawful, consistent with case law and...
Everything You Need to Know About Pro-Rata Rules
A review of the IRS and plan rules that can affect how participants can draw down their pre- and post-tax...
Congress Urges Treasury to Share Unclaimed Bond Data with States
There are about $30 billion in unclaimed savings bond assets that could be distributed to Americans.
DOL Backs Unenforceability of Class Action Waivers
The regulator filed an amicus brief with the 6th Circuit in May arguing that class action waivers in plan agreements...
Should the CPI-E Be Used for Social Security?
Using the consumer price index for the elderly for cost-of-living adjustments would likely result in higher Social Security benefits.
Legislation to Improve Health Billing Transparency Endorsed by ERISA Industry Committee
The two acts would require more disclosures from providers to payers.
AT&T Files Motion to Dismiss Lawsuits Related to Athene Deal
The telecommunications firm says allegations of fiduciary breach are misplaced and should sit with its independent fiduciary SSGA.
SEC’s Private Fund Adviser Rule Struck Down by 5th Circuit Appeals Court
The 5th Circuit vacated the rule completely on Wednesday after being challenged by an association of private fund managers and...
Showing Net Performance in Portfolio Subsets Is Hardest Part of Marketing Rule
The majority of investment advisers are changing marketing materials to try and comply with the rule, with frustrations, according to...
ERISA Contributed to DB Plan Decline, Experts Say
The replacement has been an undefined system largely managed by individuals, according to experts discussing ERISA 50 years on.
Lawsuit Against TIAA Over Managed Account Service Moves Forward
TIAA’s request was denied to dismiss a lawsuit brought against the insurance company for allegedly pushing for participants to use...
ERIC Lays Out Its IRS, Treasury Priority Areas
A letter from the ERISA Industry Committee lays out recommendations for its 2024-2025 Priority Guidance Plan for regulators including retirement...
Bechtel Faces 401(k) Suit Over Default Managed Accounts
The global engineering firm’s $5.1 billion retirement plan committee is sued for defaulting participants into managed accounts plaintiff alleges did...
Chamber of Commerce, ERIC Plead for Fewer Retirement Plan Disclosures
The interest groups agree that most participants do not read nor understand many disclosures related to their retirement benefits.