Compliance August 11th, 2023 DOL Seeks Comment on Select SECURE 2.0 Enactments From PEPs to emergency savings accounts, the DOL’s EBSA is welcoming input on changes and revisions to retirement plan administration.
Compliance August 7th, 2023 Pension Risk Transfers in No Need of Overhaul, Insurance Executives Say Minor changes, such as requiring pensions to consider cybersecurity before selecting an annuity provider, could be positive, however.
Compliance August 7th, 2023 American Airlines Files Motion to Dismiss 401(k) ESG Complaint The airline argued the case should be dropped partly because the ESG funds in question were not in the 401(k)...
Compliance August 3rd, 2023 Plaintiff Drops Fidelity, Financial Engines from American Airlines ESG Lawsuit The plaintiff voluntarily dismissed the two of four defendants from the lawsuit that claims ESG factors were considered ahead of...
Compliance July 28th, 2023 House Spending Bill Would Block EBSA’s ESG Rule, but Senate’s Would Not Congress has until September 30 to pass a budget bill.
Compliance July 18th, 2023 ERISA Advisory Council Highlights Trends in Pension Risk Transfers PRTs are trending upward, but their relationship with private equity and non-traditional investments is drawing more scrutiny.
Compliance July 12th, 2023 Insurance Group Calls On White House to Support More Retirement, Annuity Legislation The IRI wrote to the Biden administration in the hopes it will back retirement legislation that paves the way for...
Compliance July 12th, 2023 Twitter Hit With $500M Suit for Unpaid Severance The proposed class action alleges Elon Musk promised to abide by the firm’s severance plan but did not follow through.
Compliance July 10th, 2023 EBSA Publishes Regulatory Update on Health Facility Fees, Provider Networks The FAQ says facility fees count toward out-of-pocket limits and price estimates, while maintaining a contractual relationship causes a provider...
Products July 5th, 2023 PEP Growth Slows as Startups Fold An IRS clarification that expanded audits for PEPs may be a factor for some providers in leaving the market.
In Practice June 27th, 2023 Experts: Plan Committees Need Consistent Focus on Cybersecurity Communicating digital safeguards to participants and engaging IT teams are key, experts said at the PLANSPONSOR National Conference.
Compliance June 5th, 2023 Pilot Sues American Airlines Due to ESG 401(k) Investing Strategy The retirement committee, recordkeeper Fidelity Investments and financial advice provider Edelman Financial Engines were accused of sacrificing fiduciary duty to...
Compliance June 1st, 2023 Senate HELP Committee Urges DOL to Prioritize Certain Secure 2.0 Provisions The recommended focus areas include emergency savings and defined benefit annual funding notices.
Compliance May 16th, 2023 ASA: DOL Drops Appeal to 401(k) Rollover Advice Ruling According to the trade association, the regulator will not appeal a ruling that keeps 401(k) rollover advice outside of fiduciary...
Compliance May 15th, 2023 DOL to Extend UBS, Credit Suisse 401(k) Asset Management Exemption The DOL proposes extending for one year beyond their merger the exemptions being used by UBS and Credit Suisse to...
Compliance May 12th, 2023 Asst. Labor Secretary Gomez Says DOL Studying SECURE 2.0 Implementations The EBSA head also discussed the need to educate market participants on the DOL's ESG rule and changes to COVID-19...
Compliance April 26th, 2023 Senate HELP Committee Advances Su’s Nomination on Partisan Lines No floor vote has been scheduled for the confirmation of the acting Secretary of Labor, who faces Republican opposition.
Compliance April 20th, 2023 Acting Labor Secretary Su Says SECURE 2.0 Guidance Coming in “Timely Manner” Committee to consider Su's confirmation to replace Marty Walsh, who left the DOL in February.
April 4th, 2023 DOL Takes On Lawsuit Challenging Its ESG Rule The Department of Labor argued the ESG rule merely permits ESG considerations and is consistent with ERISA.
Compliance March 22nd, 2023 EBSA Provides More Time for QPAM Exemption Proposal Comments The proposed changes to the QPAM exemption can now receive public comment until April 6.