May Climate Funds Be Used in DC Plan Menus?
Yes, as long as they don’t come at the cost of participants’ investment outcomes, according to Wagner Law Group.
Tag: DoL
Former American Airlines Pilot Fires Back in Retirement Plan ESG Suit
The plaintiff doubles down on allegations the airline defaulted him into ESG-related funds.
DOL Beats ForUsAll Crypto Suit
A federal court ruled there was no legal basis for complaints challenging the DOL’s compliance bulletin cautioning use of cryptocurrency...
Lawsuit Would Block Missouri’s Anti-ESG Advising Rule
Requiring registered advisers to follow state-level ESG disclosure rules violates federal law, according to SIFMA’s lawsuit.
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.
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.
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)...
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...
House Spending Bill Would Block EBSA’s ESG Rule, but Senate’s Would Not
Congress has until September 30 to pass a budget bill.
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.
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...
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.
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...
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.
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.
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...
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.
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...
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...
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...