Compliance

Accessing health plan data is a plan sponsor’s ‘superpower’ and provides leverage in negotiations with pharmacy benefit managers, according to experts.

The IRS agreed to share taxpayer data with immigration authorities, a marked contrast to its 2023 approach to EBSA’s lost-and-found database.

How can plan sponsors avoid prohibited actions, mitigate fiduciary exposures and correct errors?

The Financial Freedom Act would reverse the Department of Labor’s guidance against including cryptocurrency investments in 401(k) accounts.

The regulator addressed confusion resulting from ERISA-related questions that arose after passage of the SECURE 2.0 Act of 2022.

In a commentary this week, Julie Su opined about “nightmares that could become the norm in a country without a strong U.S. Department of Labor.”

Complying with the Consolidated Appropriations Act requires health plan fiduciaries to closely monitor the middlemen involved in administering their health plans.

A lawsuit against Lockheed Martin over pension risk transfers it conducted with Athene will continue, whereas a similar lawsuit against Alcoa Corp. was dismissed.

Experts recommend retirement plans conduct fiduciary education and training sessions at least annually and any time a new member joins the plan committee.

While outsourcing advisers or consultants can help relieve plan sponsors’ administrative tasks, it does not absolve them of fiduciary responsibility.

Who are retirement plan fiduciaries and what does ERISA require them to do?

Plan fiduciaries have been accused of failing to prudently invest cash held in employee stock ownership plan trusts in recent cases.

Former employees alleged that the company had mismanaged its health plan, causing employees to overpay for prescription drugs.

The restraining order was issued days before a nomination hearing for Frank Bisignano, Trump’s nominee for commissioner of the Social Security Administration, is scheduled.

The Employee Benefits Security Administration’s updated self-correction tool launched this week.

The lawsuit claims that Lockheed Martin used underperforming target-date funds with high fees in its 401(k) plans for the company’s own benefit.

The company was accused of using an in-house stable value investment that underperforms competitors.

The defendants claim the company breached its ERISA fiduciary duty by putting business interests ahead of the plan and its participants.

Janet Dhillon was selected to serve as the next director of the Pension Benefit Guaranty Corporation, pending Senate confirmation.

Monday’s full Senate vote came after President Donald Trump’s pick to head the Department of Labor was cleared by the HELP Committee last month.