Compliance

The Texas court will re-hear the challenge to the 2022 Department of Labor rule on 401(k) plan investing, now without relying on Chevron deference.

The changes apply to annuities, Roth sources and spousal beneficiaries.

The system comes shortly after the DOL amended a rule to include Chapter 7 bankruptcies. 

Inherited retirement assets will be subject to different treatment depending on the recipient, starting in 2025.

IRI believes that standard data will increase the comparability and marketability of annuity products.

The update provided examples of securities in aggregate bond indices that would be considered investment-grade fixed-income securities for SFA investments.

Without the assistance, the pension fund was predicted to become insolvent in 2034.

An interim report alleges subsidiaries of conglomerates like Cigna, CVS and UnitedHealth pushed customers to more expensive medicine.

Nine insurance industry organizations and representatives have responded to the DOL’s rebuttal of the groups’ litigation against the rule as September implementation date nears.

A Michigan federal judge approved a preliminary agreement in Garcia et al. v. Alticor Inc. et al.

The House Committee on Education and the Workforce voted 23 to 18 to nullify the Retirement Security Rule.

A federal judge ruled the suit’s ‘theory of liability’ was too broad and dismissed the complaint, which focused on the use of plan forfeitures.

The new proposal is likely to emerge in 2025.

A Connecticut federal judge rejected the plan sponsor’s motion to dismiss, so the ERISA fiduciary breach case involving BlackRock TDFs will continue.

Experts recommended annuities in QDIAs would help participants avoid outliving their assets.

Challengers of the rule that allows environmental, social and governance factors to be considered in investment decisions cited the overturning of Chevron. 

PEPs play a key role in the proposal to Louisiana Senator Bill Cassidy to get more independent contractors saving for retirement.

A New York State judge dismissed the complaint due to lack of standing and failure to demonstrate injury.

The Kansas plan received a grant of $43.1 million.

A holding company has agreed to settle a lawsuit that alleged fiduciaries of its ESOP plan enriched themselves and shortchanged participants.