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.
Tag: ERISA
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...
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.
Outdated Mortality Table ERISA Suit Filed in Arizona
The lawsuit alleges that Pinnacle West, an electric utility, used outdated mortality tables, causing it to underestimate the present value...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...
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...
PLANADVISER Webinar: Your HSA Questions Answered
Complex and critical questions arise for plan sponsors that consider adding a health savings account benefit.
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...
ERISA Suit Brought Against Quanta Services
401(k) participants brought the suit, alleging that Quanta kept certain underperforming funds in its plan menu.
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...
Insurer the Target of ERISA Lawsuit
An ERISA lawsuit against Mutual of America has alleged that 401(k) plan fiduciaries breached their duties to participants.
ERISA Lawsuit Against Associated Bank Dismissed
A Wisconsin District Court judge was unconvinced by arguments made by the plaintiffs that plan fiduciaries breached their duty to...
Cybersecurity Experts Warn of Increased Fraud Risk to Retirement Plans
Cybercriminals are becoming more sophisticated and patient in their approach due to the massive payouts fraudsters can manage to steal...
New Bill Seeks to Encourage 401(k) Investment in Alternative Assets
The Retirement Savings Modernization Act aims to clarify ERISA to incentivize retirement investment in assets such as real estate, private...
Settlement Reached with Couple that Lost Millions in Profit-Sharing Plan
The pair will pay more than $2 million to settle claims they invested assets in companies in which they had...
Class Settlement Approved for AAA Carolinas ERISA Lawsuit
The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
Home Depot Victorious in ERISA Suit
The judge ruled that even though Home Depot may have followed an imprudent process for choosing investments, the plaintiffs were...
Wells Fargo Is Targeted in ERISA Lawsuit Alleging Self-Dealing
The Wells Fargo retirement plan fiduciaries are accused of engaging in prohibited transactions and breaching their fiduciary duty to participants.
Gomez Confirmed as New Head of EBSA
The full Senate voted, 49-36, to confirm Lisa Gomez as the new assistant secretary of labor for the Employee Benefits...
What Is the DOL’s Plan If the Government Shuts Down?
Like most organs of the federal government, the Labor Department maintains an explicit policy for government shutdowns as a consequence...