Compliance | November 3rd, 2022 Excessive Fee Complaint Filed Against Large Freight Transporter The Phoenix-based company is alleged to have breached its fiduciary duty to plan participants.
Compliance | November 3rd, 2022 Ohio Bricklayers Pension Fund Gets PBGC Bailout The union plan had been severely underfunded for over a year but can now meet its liabilities to nearly 400 participants.
Compliance | November 1st, 2022 CEO Pleads Guilty to Fraud, Failing to Pay 401(k) Contributions Maddox Group’s Adam Belardino faces up to 45 years in prison for wire fraud and making false statements to the IRS.
Compliance | October 31st, 2022 Yale 403(b) Fiduciary Breach Counts Withstand Motions A federal judge has granted in part and denied in part, the Yale University motion for summary judgement.
Compliance | October 31st, 2022 Washington Insiders Offer Timeline Update on SECURE 2.0 Comprehensive retirement reform is expected to pass this year and is intended to increase access to retirement accounts.
Compliance | October 26th, 2022 ERIC Calls for SECURE 2.0 To Pass This Year In addition to voicing its support, ERIC also offered recommendations and criticism on various provisions in the legislation.
Compliance | October 25th, 2022 Maximum Benefit and Contribution Limits Table 2023 Maximum Benefit/Contribution Limits for 2018 through 2023, with a downloadable PDF of limits from 2013 to 2023.
Compliance | October 25th, 2022 Empower Hit With Managed Account Lawsuit The suit claims Empower instituted "fraudulent sales tactics" to "lure" 457 plan participants into its managed accounts.
Compliance | October 24th, 2022 Arizona Electric Company Sued for Using Actuarial Tables from the 1960s Plaintiffs argue the outdated tables had the effect of reducing the value of employees’ pensions by underestimating the plaintiffs’ life expectancy.
Compliance | October 21st, 2022 IRS Releases 2023 Plan Limits The contribution limit adjustments reflect cost of living changes from this year.
Compliance | October 19th, 2022 A Look at Proposed Regulatory Changes to Crypto and Retirement Plans The environment for crypto could change as it becomes more accepted in retirement products.
Compliance | October 19th, 2022 Union Multiemployer Plan Faces ERISA Lawsuit Plaintiffs have alleged fiduciary breaches against retirement plan fiduciaries for the International Union of Elevator Constructors.
Compliance | October 18th, 2022 Rising ERISA Litigation and the Importance of Section 104 Disclosure Defense and plaintiff attorneys offer strikingly different accounts of the systemic issues haunting the ERISA litigation space.
Compliance | October 14th, 2022 Promoting ESG Strategy and More Uniform Regulation Are Focus of Georgetown Panel Speakers emphasized the distinctions between ESG and sustainable investments and the need for greater regulatory clarity between jurisdictions.
Compliance | October 14th, 2022 PBGC Proposes Rule for Multiemployer Pension Withdrawals The Pension Benefit Guaranty Corporation proposal clarifies assumptions for determining an employer’s withdrawal liability.
Compliance | October 13th, 2022 Social Security Cost-of-Living Adjustment Sees Highest Increase in 40 Years The increase is aimed at combating rising inflation.
Compliance | October 13th, 2022 ESG Bluster Leads to No Effect for Three States’ Retirement Systems For state pension funds considering environmental, social and governance investments, the sustainable strategies may be mightier than the letter.
Compliance | October 12th, 2022 Law Firm Files Motion to Dismiss ERISA Complaint Targeting BlackRock Funds Attorneys for the defendants have asked a federal district court to dismiss ERISA fiduciary breach claims.
Compliance | October 10th, 2022 Quanta Services Sued in ERISA Lawsuit The energy company was sued by two former employees for keeping poorly performing options on its retirement fund menu.
Compliance | October 10th, 2022 IRS Issues Update on 10-Year RMD Rule The updated guidance waives the excise tax for those who failed to take a required minimum distribution in 2021 and 2022.