Compliance

Boilermaker-Blacksmith National Pension Trust claims arbitrator Richard C. McNeill Jr. incorrectly ruled that GE satisfied the building and construction industry exemption. 

The document clarifies acceptable investments, the $2,500 limit and other items for the feature enabled by SECURE 2.0 legislation that is debuting this year.

The Department of Labor filed a lawsuit against Blue Cross Blue Shield of Minnesota, claiming the third-party administrator became a fiduciary of the health plans by exercising control...

The ASA requested that Congress identify and consider removing from the project certain DOL staff involved with the proposal.

The notice outlines methods sponsors may not use to counter the abuse of sidecar account matching contributions, instead asking for suggestions on how to limit abuse.

Probably not worth the risk, but there is no ban on it.

Members of Congress and their invited experts discussed the pros and cons of the Department of Labor’s retirement security proposal.

The Department of Labor has filed complaints against two separate plan sponsors, alleging identical fiduciary breaches.

The uncertainty atop the Department of Labor is especially relevant amid the financial industry’s response to the controversial retirement security proposal.

A letter, signed by representatives from both sides of the political aisle, argues the proposed DOL rule changes are unnecessary and harmful to middle-to-low-income savers.

The DOL and IRS have both issued updates for the three composite plan types.

The PBGC is accepting nominations until February 16 for a member to represent the general public.

Morningstar argued that the DOL proposal would lower fees for smaller plans, while ACLI argued it would reduce access to annuity products for lower income savers.

The IRS says that the balance and accrual rate for a participant cannot be reduced when adopting a new variable rate.

Health care system 403(b) participant fees alleged to be too high in fiduciary breach case.   

The Department of Labor keeps working to implement provisions of 2022’s SECURE 2.0 Act alongside further rules for retirement and health benefits.  

Group questions authority of Acting Labor Secretary Julie Su to approve any final rulemaking.

Regulator offers clarification on automatic features, start-up credits and Roth employer contributions.

A comparison of the SECURE 2.0 Act of 2022 provisions taking effect in 2024 and prior law, where applicable, according to Groom Law Group, Chartered. 

The amendments keep pre-approved plans in compliance with changes to tax law.