Compliance | October 27th, 2023 Transportation Pension Granted $49.3M by PBGC The plan of 3,887 participants will remain solvent through 2051.
Compliance | October 27th, 2023 26 State AGs Will Appeal ESG Rule Lawsuit Dismissal After their initial challenge to the DOL’s ESG rule was dismissed, the states are appealing to the 5th Circuit Court of Appeals.
Compliance | October 26th, 2023 New House Speaker Mostly Unknown to Retirement Industry Industry advocates have very little to say about Mike Johnson, good or bad, but another budget showdown could reveal his priorities.
Compliance | October 24th, 2023 New Bill Would Increase Plan Startup Credits for Small Businesses The legislation would allow businesses with 10 or fewer employees to benefit more from SECURE 2.0 credits when starting a plan.
Compliance | October 24th, 2023 NYC Pension Funds Argue ESG Lawsuit Hinges on ‘Legal Errors’ Parties continue to argue about the plaintiffs’ standing as three New York City public-employee pension funds seek to have the complaint dismissed.
Compliance | October 23rd, 2023 SFA Recipients Are Not Investing in Return-Seeking Assets, Expert Says The bucket recipients can use for stock investments is not being filled due to the attractiveness of investment-grade assets.
Compliance | October 20th, 2023 Retirement Fiduciary Proposal Coming Very Soon Industry experts now expect the proposal on 3(21) fiduciaries to come by month’s end.
Compliance | October 20th, 2023 Federal Auto-IRA Bill Re-Introduced The bill would have a 5% match and be administered by the Department of the Treasury.
Compliance | October 19th, 2023 2 ERISA Mandatory Arbitration Case Appeals Will Not Go Before Supreme Court The cases focused on ESOP valuation, and both rulings held that that mandatory arbitration and class action relief are not enforceable.
Compliance | October 18th, 2023 PBGC Announces 2024 Premiums, Guarantee Levels Guarantee levels for single-employer plans will rise with inflation, but multiemployer plans are not indexed.
Administration | October 18th, 2023 How to Rethink Protecting Against Cyberattacks A veteran of cybersecurity, expert in digital threats, offered a critical assessment.
Compliance | October 17th, 2023 Acting Secretary of Labor Su Clarifies Aim of New Fiduciary Proposal The proposal seeks to broaden the definition of fiduciary adviser under ERISA, though the precise wording is not yet available.
Administration | October 17th, 2023 How to Stay Safe From Evolving Cybersecurity Threats Experts discussed the SEC’s new cybersecurity rules and the importance of having an action plan at PLANSPONSOR’s Cybersecurity livestream.
Compliance | October 16th, 2023 American Airlines Motion Argues ESG Funds Theory is “Wrong” The argument about ESG funds by former pilot Bryan Spence ‘runs headlong into the Supreme Court's instruction,’ according to the defendants.
Benefits | October 16th, 2023 Is It Time for an ERISA Reboot? Many industry experts believe there is a need for an ‘ERISA 2.0’ that includes a stronger framework for universal coverage, lifetime income, defaults and more.
Administration | October 12th, 2023 Former Pilot Adds to Arguments in American Airlines ESG Case The plaintiff, Bryan Spence, referenced another federal court’s decision in asking a Texas federal court to deny the defendants’ motion to dismiss.
Compliance | October 11th, 2023 Sponsors Need Clarity on Emergency Savings Accounts, Say Industry Advocates In comment letters submitted to the Department of Labor, concerns expressed ranged from QDIAs to permitted withdrawals.
Compliance | October 11th, 2023 PLANSPONSOR Roadmap: SECURE 2.0 GPS Experts review the road map for current and upcoming dates of the retirement legislation.
Compliance | October 10th, 2023 Retirement Industry Calls On SEC to Withdraw Proposal on AI, Conflicts of Interest The proposal would limit the availability of educational and retirement readiness tools for participants, commenters say.
Compliance | October 10th, 2023 GE Agrees to Pay Record $61M to Settle 401(k) Lawsuit The settlement is considered the ‘largest ever’ in a lawsuit alleging mismanagement of a retirement plan’s in-house funds, according to court filings.