Employer Forfeited Funds Complaint Against HP Inc. 401(k) Plan Is Dismissed
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.
Compliance
TDF Lawsuit Against Black & Decker Advances
A Connecticut federal judge rejected the plan sponsor’s motion to dismiss, so the ERISA fiduciary breach case involving BlackRock TDFs will continue.
ERISA Advisory Council Explores Annuity Default Options in DC Plans
Experts recommended annuities in QDIAs would help participants avoid outliving their assets.
Chevron Reversal Could Affect Appeal of DOL’s ESG Rule
Challengers of the rule that allows environmental, social and governance factors to be considered in investment decisions cited the overturning of Chevron.
American Benefits Council Lays Out Plan to Increase Gig Worker Retirement Plan Enrollment
PEPs play a key role in the proposal to Louisiana Senator Bill Cassidy to get more independent contractors saving for retirement.
Lawsuit Against NYC Pension Funds’ Divestment in Fossil Fuels Dismissed
A New York State judge dismissed the complaint due to lack of standing and failure to demonstrate injury.
Construction Pension Fund With More Than 8,000 Participants Rescued by PBGC
The Kansas plan received a grant of $43.1 million.
California Business Conglomerate Cuts $1.25M Deal to End ESOP Lawsuit
A holding company has agreed to settle a lawsuit that alleged fiduciaries of its ESOP plan enriched themselves and shortchanged participants.
What Does the End of Chevron Deference Mean for the DOL?
It could mean more lawsuits and overturned rules related to retirement plans.
PBGC Closer to Receiving Pension Plan Restitution Payments
Following a federal court order in Pennsylvania, the Pension Benefit Guaranty Corporation is nearer to forcing a bankrupt construction company pension plan to pay more than $1 million...
GE Joins List of Companies Sued Over PRT Deal with Athene
General Electric Co. has been sued by former participants represented by law firm Schlichter Bogard LLP after completing a pension risk transfer with Athene in 2020.
Non-Insurer Plaintiffs Join ACLI in Fiduciary Rule Lawsuit
FSI and SIFMA are also asking for the Retirement Security Rule to be vacated.
Reading Between the Lines of the IB 95-1 Report
Experts react to the DOL’s report, which might mean more than first appearances show about the future of PRT rulemaking.
SPARK Institute to Hold Workshop on SECURE 2.0 Plan Changes
The workshop, hosted by Vanguard, will focus on implementation of mandatory provisions like Roth catch-up contributions and super catch-ups.
CFP Board Continues DOL Fiduciary Rule Support With Court Filing
The group that certifies financial professionals argues that the new rule will cover important regulatory gaps and not hinder investment advice for retirement savers.
Republicans Look to Defund Retirement Security Rule, Other DOL Priorities
House GOP spending proposal cuts all funding for the ESG rule and the Women’s Bureau
PNC Wins ERISA 401(k) Excessive-Fee Lawsuit
A Pennsylvania federal judge ruled that an expert witness to the plaintiffs was unreliable, dismissing the argument that the plan paid excessive fees to its recordkeeper Alight.
Benefits |
Employers Can Trust Address Provided by Employees
For employers, mailing COBRA notices by first-class mail to a former employee’s last known address is acceptable, Illinois federal court rules.
DOL’s Late IB 95-1 Report Concludes More Time Is Needed
The long-awaited report makes no recommendations for changes.