Compliance

A Texas federal judge has scheduled a trial date, following the entry by attorneys for each side of pretrial materials, including witnesses that each expects to testify. 

The telecommunications company argued that allegations that it failed in its fiduciary duties are misplaced and should fall to its independent fiduciary, SSGA.

The 2 grants total $90 million and will help cover about 2,000 workers.

A series of lawsuits have challenged how plan sponsors have used plan forfeitures to reduce employer contributions.

The law greatly incentivized DC plans over DB plans, according to experts at an ERISA at 50 symposium.

TIAA’s request to dismiss lawsuit alleging it used aggressive tactics to move participants from the plan into more costly managed accounts will move ahead.

As defined benefit plan sponsors look to de-risk and offload pension liabilities, the selection of annuity providers has come under increased scrutiny in recent lawsuits.

Retirement plan and benefit disclosures should only be given to participants if they contain actionable information, industry groups say.

The retirement plan committee for the engineering firm’s $5.1 billion plan is sued over the fees participants paid after being defaulted into managed accounts.

The regional plan, based in New Jersey, has more than 4,000 participants in food service.

The legislation mirrors another bill in the House, which increases credits for offering retirement plans for the smallest businesses.

The 9 organizations tell a Texas federal court that the new fiduciary rule “exceeds the DOL’s authority under federal law” and call it “arbitrary and capricious.”

Plaintiffs seek class status in case that alleges South Carolina-based firm permitted excessive fees on the $1.2 billion plan.

A class of participants was certified in a federal district court lawsuit against American Airlines’ Plan for Pilots.  

Timothy Hauser explained in an ABA webinar that the new fiduciary rule is different from the old one and compliant with previous litigation.

Instead, they would likely adopt liquidity fees, though Chair Gensler did not say so explicitly.

Critics say the bill significantly weakens the regulatory structure on crypto assets.

The Pension Benefit Guaranty Corporation claims a shuttered California corporation’s CEO transferred plan assets to a business checking account.

Advisers and investment companies must now inform their customers of data breaches within 30 days.

EBSA will publish rules to open Abandoned Plan Program eligibility to Chapter 7 bankruptcy trustees.