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...
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.
The group that certifies financial professionals argues that the new rule will cover important regulatory gaps and not hinder investment advice for retirement savers.
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.
With new fiduciary standards in place under the Consolidated Appropriations Act, it is important for plan sponsors to be diligent when managing their health care plans.