The Department of Labor says the plan’s ownership interest was sold for less than market value, effectively transferring the rest of the stock’s value to board members and...
The complaint suggests the plan should have been able to negotiate highly competitive rates for investment and administrative services but failed to do so.
Now that industry experts have had some time to digest the DOL’s new proposal regarding the use of ESG investment factors by retirement plan fiduciaries, many seem to...
The agency has issued two FAQ documents addressing pension plan rules when rehiring retirees and says federal departments are holding webinars to address staff shortages in public school...
Among other things, the plaintiffs allege the GoalMaker service disfavored funds in the plan’s investment menu that did not pay kickbacks to Prudential.
They say ERISA pre-empts the state-run retirement program, therefore invalidating it, but that argument has been previously rejected by both an appellate and a district court.
A court found the terms of the agreement were broad enough to reject the plaintiff’s argument that he should be able to sue because his claims belong to,...
A court found an employer ‘contributed’ to a supplemental AD&D policy by paying for basic AD&D insurance and that it ‘established’ the plan by negotiating terms with the...
Plan sponsors will be required to provide much more data, as well as certifications about plan administration and governance, and limited-scope audits will no longer be so limited.
A judge found Aon didn’t violate ERISA when encouraging Lowe’s to change the plan’s investment menu or by selecting and maintaining a proprietary fund for the plan that...
The agency says the proposal seeks to emphasize that climate change and other ESG factors can be financially material and that considering these elements can lead to better...
Earlier this year, the firm settled similar charges from the SEC and the New York attorney general accusing it of making inaccurate and misleading statements to rollover clients.