Compliance | April 3rd, 2024 Minnesota Sponsor Sues Adviser for True-Up Plan Amendment The cost of a plan amendment to allow safe harbor and true-up contributions prompted Great Lakes Management Co. to allege...
Benefits | April 2nd, 2024 Washington State Auto-IRA Law Signed Washington Saves is scheduled to debut in 2027, with the state joining 18 others that have created retirement programs for...
Compliance | April 1st, 2024 DOL Files Papers to Enforce Petition against TPA The Department of Labor seeks to enforce a summons against a Philadelphia-based third-party administrator to execute an Employee Benefits Security...
Data and Research | April 1st, 2024 CIT Assets Expected to Surpass Mutual Fund Assets in TDFs in 2024, per Morningstar Target-date-fund collective investment trusts continue to accumulate assets, finds Morningstar in its target-date strategy landscape report.
Compliance | March 25th, 2024 ERIC Joins Amicus Brief Defending Yale University The brief was filed to support Yale in the plaintiffs’ 2nd Circuit appeal of a 2023 jury verdict that was...
Benefits | March 22nd, 2024 Molina Healthcare Close to Win in ERISA Lawsuit A California federal judge’s ruling in an ERISA lawsuit against Molina Healthcare provides a window into this court’s thinking on...
Products | March 21st, 2024 Product and Service Launches TIAA Distributes Annuity to Empower DC plans; HSA Bank launches emergency savings accounts; Navia partnership launches custom 401(k) plans; and...
Deals and People | March 15th, 2024 Retirement Industry People Moves Malone to lead protected retirement sales at Nationwide; Definiti appoints new sales and ERISA leadership; Principal hires Bender to large...
Compliance | March 13th, 2024 Plaintiffs Request Judge Approve Settlement in ERISA Data Breach Lawsuit Attorneys for the plaintiffs in a case about cybersecurity liability for participant data asked a Georgia federal judge for final...
Deals and People | March 8th, 2024 Retirement Industry People Moves Great Gray Trust Co. names Craig McKenna sales head; PCS Retirement appoints new CEO; Aon adds a director to Chicago...
Benefits | March 6th, 2024 Dawn Foods Boosts Employer 401(k) Matching Contribution Michigan-based Dawn Foods Inc. changed its contribution matching formula to increase the total and reduce participants’ confusion.
Deals and People | February 23rd, 2024 Retirement Industry People Moves Alerus names top retirement services officer; Newport bolsters NQDC unit; T. Rowe board chair Stromberg steps down; and more.
Compliance | February 22nd, 2024 Judge Denies American Airlines’ Motion to Dismiss Federal judge allows lawsuit against American Airlines’ defined contribution plans to proceed.
Compliance | February 21st, 2024 Pennsylvania Federal Judge Orders RiversEdge Out of Retirement Plans A judge determined the retirement plan recordkeeper and third-party administrator misappropriated millions in clients’ plan assets.
Administration | February 21st, 2024 New York Life Forges Partnerships With MLB, US Soccer New York Life will be the official financial guidance partner of Major League Baseball and expanded its commitment to the...
Administration | February 16th, 2024 Lawsuit Targets Fiduciaries of Hess Corp. A lawsuit against the Hess Corp. alleges Hess plan fiduciaries included target-date mutual funds instead of collective investment trusts in...
Benefits | February 15th, 2024 DB Plans’ Experience Provides No Playbook for DC Plans to Incorporate Private Equity According to a Morningstar report, large private sector pension funds’ experience allocating to PE is not particularly instructive for defined...
Data and Research | February 14th, 2024 Target-Date Assets Reach Record High $3.5 Trillion in 2023 Fees continued to fall, performance rallied and assets grew, according to Sway Research.
Investing | February 12th, 2024 Insurance Broker’s PEP Launches for Private Equity, Venture Portfolio Firms San Francisco-based Woodruff Sawyer enters the pooled employer plan market, seeking to attract startup plans through the firm’s private equity...
Products | February 8th, 2024 Investment Product and Service Launches Voya officially launches dual QDIA; MassMutual introduces first sub-advised municipal bond strategy and selects sub-adviser; SEI signs on as trustee...