Search results for: SCO
Department of Labor Secretary Nominee Gets Confirmation Hearing Date
While she has not been publicly outspoken about retirement policy, Chavez-DeRemer has been more active on the employer health plan side of the Employee Retirement Income Security Act,...
Advisers Planning to Increase Technology, AI Usage and Spend
According to advisers surveyed by Orion, disconnected technology is their primary technology-related pain point—for the second year in a row.
Trump Issues Executive Order to Create Sovereign Wealth Fund
The fund, which could require Congressional approval, is to be established by the Department of the Treasury and the Department of Commerce over the next 12 months.
Study Finds Most Corporate Retirement Plans Have Regulatory or Fiduciary Violations
According to Abernathy Daley 401k Consultants, more than 600,000 American companies could be at risk of fines, legal penalties and fiduciary failure.
FINRA Flags Shortcomings in Firms’ Anti-Money Laundering Efforts
The Financial Industry Regulatory Authority’s latest report offered advisers best practices for strengthening their compliance with security regulations.
Southwest Airlines Faces Lawsuit Over ‘Chronically Underperforming’ 401(k) Funds
Participants allege that the airline failed to remove a large-cap growth investment option after ‘15 years of underperformance.’
The Retirement Advantage Announces New 401(k) PEP
TRA partners with Empower, Envestnet and FiduciaryxChange on its pooled employer plan offering.
Supreme Court Hears Cornell Pleading Standards Case in Oral Arguments
The court examined conflicting lower court rulings to decide if plaintiffs must demonstrate more than just the occurrence of a 'prohibited transaction' to overcome a motion to dismiss.
Total Number of Advisers Has Stagnated, Cerulli Reports
While AUM continues to grow, training, mentorship and succession planning could all help address the headcount stasis.
ERISA Group’s Lawsuit Seeks to Upend Final Federal Mental Health Parity Rules
ERIC argues the final rule goes beyond the authority federal officials have under the mental health parity law’s authority.
Retirement Industry People Moves – 1/17/25
JPMorganChase announces new responsibilities for senior leaders; NEPC names Contorno principal and head of DC vendor management; CG Financial Services Appoints Hiipakka as President and COO; and more.
DOL Proposes Rule to Clarify ‘Adequate Consideration’ for ESOP Transactions
The regulation aims to strengthen protections for employees in stock ownership plans
OneDigital Acquires Nonprofit HR Solutions, Fueling Expansion
The acquisition is OneDigital’s first in the nonprofit sector.
Transamerica Introduces New Logo
The rebranding campaign is meant to highlight Transamerica’s commitment to middle-income Americans.
Corporate Pension Funding Status Rose in December, Ending Strong in 2024
Pension plans saw improved funding status at the end of 2024, with rising discount rates triggering a decrease in pension liabilities.
401(k) Excessive Fee Litigation Spiked to ‘Near Record Pace’ in ’24
Encore Fiduciary reported a 35% increase in ERISA excessive fee litigation, in part driven by a surge in plan forfeiture lawsuits.
Court Rules American Airlines Breached Fiduciary Duty in ESG Case
A federal district court in Texas found that American Airlines prioritized ESG investment goals ahead of employees’ financial interests, violating its fiduciary duties under ERISA.
Jay Kaduson Joins Voya Financial as CEO of Workplace Solutions
Kaduson will report to Heather Lavallee, CEO of Voya Financial.
Groups Call On Supreme Court to Uphold Cornell University Decision to Stem Frivolous Lawsuits
The Supreme Court will hear a case to resolve a split among circuit courts on whether a plaintiff must argue that more than a ‘prohibited transaction’ has occurred...
401(k) Connector Pontera Partners With Hightower Advisors
The partnership will integrate Pontera’s client 401(k) oversight technology with Hightower’s advisory services.