Compliance

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.  

Also known as adequate consideration, the ESOP community has been calling for share pricing regulation for years.

Companion bills in the House and Senate have been introduced by Republicans and Senator Manchin that would cancel the DOL’s final rule.

The council will report on their findings to EBSA.

A seven-year-old lawsuit concerning fee disclosure could be before the Supreme Court next term.

For a second time, the 9th Circuit has resurrected a lawsuit that targeted the aerospace and defense company.  

The Biden administration has not yet nominated a full director.

Workers will be able to contribute $4,300 annually for self-only coverage and $8,550 for family coverage.

The recommendations include: lower PBGC fees costs and allowing DC to DB transfers.

Critics of the Retirement Security Rule argue that at a minimum, DOL cannot regulate IRA to IRA rollovers.