Compliance February 10th, 2023 Will RMD Age Increases Cause ‘Abandoned’ Property Problems? SECURE 2.0 increased the RMD age to 73 and will increase it again to 75 in 2033. Some states’ laws...
Compliance February 2nd, 2023 Federal Magistrate Judge Recommends Dismissal of ERISA Case Against Dish Network The plaintiffs have 14 days to resubmit and restate their claim in the excessive-fee case.
Compliance January 17th, 2023 ERISA Suit Against Deloitte Dismissed The lawsuit alleged that Deloitte’s 401(k) plan fees were excessive compared to similar plans.
Compliance January 5th, 2023 Court Dismisses 403(b) ERISA Claim Against Employer, But Not the Plan’s Adviser The sponsor, a Texas counseling service, was protected by a safe harbor provision, but the adviser might not be so...
Compliance January 4th, 2023 ERISA Lawsuit Filed Against Ventura Foods The suit alleges Ventura did not monitor high fees and underperformance of the funds in its investment menu.
Compliance December 21st, 2022 Adviser NFP Absolved in ERISA Case; Molina Healthcare and flexPATH Still Face Charges The plaintiffs in a suit against plan sponsor Molina Healthcare had sought to include advisory NFP for recommending “untested” TDFs....
Compliance December 15th, 2022 Certified Financial Planner Board Issues Crypto Guidelines The nonprofit warns financial planners that crypto-related assets “can be speculative and volatile.”
Compliance December 8th, 2022 District Court Dismisses Two ERISA Lawsuits Challenging BlackRock TDFs A series of lawsuits brought against plan sponsors that use the BlackRock funds as their QDIA received a setback last...
Compliance November 28th, 2022 DOL Proposes Changes to Voluntary Fiduciary Correction Program The proposal would allow fiduciaries to correct certain transactional mistakes and then notify DOL instead of applying for approval beforehand.
Compliance November 23rd, 2022 DOL Rule Greenlights ESG, But Questions Remain The new final rule seeks to make ESG permissible for ERISA plans, but specific use will still need to play...
The Markets November 22nd, 2022 Advisers Get Long-Awaited Clarity on ESG in Retirement Plans DOL's final rule clears regulatory hurdles for retirement plan fiduciaries to implement, or ignore, ESG investing.
Compliance November 22nd, 2022 Judge Recommends Dropping Most of $4.2B Retirement Plan Suit Against Nestlé A U.S. District Court judge sided with Nestlé’s motion to dismiss most of the claims in a 401(k) class action...
Compliance November 16th, 2022 Proposed Settlement Would Cost Juniper Networks $3 million Juniper agreed to a proposed settlement dismissing allegations they mismanaged their sponsored retirement plan; judicial approval still required.
Compliance October 24th, 2022 Outdated Mortality Table ERISA Suit Filed in Arizona The lawsuit alleges that Pinnacle West, an electric utility, used outdated mortality tables, causing it to underestimate the present value...
Compliance News Legislative and Judicial Actions The DOL updates auditor independence rules; the IRS extends plans’ amendment deadlines for certain CARES Act and Tax Relief Act...
Compliance October 20th, 2022 ESG’s Impact on Three States’ Retirement Systems While the ESG controversy has not changed how three states operate, one state treasurer has doubled down by banning them...
Client Service October 17th, 2022 PLANADVISER Webinar: Your HSA Questions Answered Complex and critical questions arise for plan sponsors that consider adding a health savings account benefit.
Compliance October 14th, 2022 ERISA Industry Committee Comments in Opposition to New DOL QPAM Rule The DOL has proposed that QPAMs would be disqualified for 10 years for foreign convictions and for entering into non-prosecution...
Compliance October 10th, 2022 ERISA Suit Brought Against Quanta Services 401(k) participants brought the suit, alleging that Quanta kept certain underperforming funds in its plan menu.
Compliance October 7th, 2022 Proposed Legislation Would Ban Mandatory Arbitration and Discretionary Clauses The Mental Health Matters Act would, among other things, ban forced arbitration clauses, class action waivers, discretionary clauses, and representation...