DOL Urged to Withdraw Proposal on ESG Investments in Retirement Plans
A group of senators and the ASA issued letters saying the newly proposed rule weakens protections for retirement plan investors and retirement plan sponsors.
Compliance
Plan Sponsors Are Getting No Answers From Excessive Fee Lawsuits
Excessive fee lawsuit activity has ramped up with no major decisions by the courts; however, a pending decision by the U.S. Supreme Court in one case could impact...
Senators Ask IRS to Examine Policies on Survivors’ Pension Benefits
They say current regulatory guidance has led to members of the LGBTQIA+ community being denied survivor benefits after losing their life partner.
Review of Oral Arguments in Northwestern University ERISA Case
Two attorneys say things so far look good for Northwestern University, meaning the court could raise pleading standards for plaintiffs in excessive fee lawsuits.
Exelon Sued Over Alleged Excessive Fees in Proprietary TDFs
The lawsuit also includes claims of excessive recordkeeping fees and unreasonable fees for managed account services.
Adidas Excessive Fee Complaint Fails
The unsuccessful complaint relied heavily on tabular depictions of the Adidas plan’s fees calculated as cost per 401(k) plan participant/beneficiary and as a percentage of the total plan’s...
2021’s Retirement Legislation Wishlist Left Unfulfilled
Retirement plan industry lobbyists and advocates hoped 2021 would deliver another much-needed round of reforms building on the SECURE Act of 2019, but so far, they have remained...
Alight Ordered to Comply With DOL Subpoena Related to Cybersecurity Incidents
A Department of Labor investigation was prompted, in part, by its discovery that Alight had processed unauthorized distributions from retirement plan participant accounts.
IRS Issues 2021 Required Amendments List
The changes in requirements that would necessitate an amendment relate to the special financial assistance (SFA) program for financially troubled multiemployer plans.
Report Offers Insight on How DOL Gets Leads for Benefit Plan Enforcements
The Employee Benefits Security Administration recovered $2.4 billion for plans, participants and beneficiaries in FY 2021.
Latest ERISA Excessive Fee Lawsuit Filed Against VCA
The plaintiffs argue the $500 million retirement plan’s fiduciaries failed to leverage the plan’s substantial bargaining power to benefit participants and beneficiaries.
MarylandSaves State-Run Retirement Program to Launch Next Summer
The plan focuses on helping employees build emergency savings before saving for retirement.
SEC Proposes Rule to Increase Securities-Lending Market Transparency
The Dodd–Frank Act mandated that the agency increase transparency regarding the loaning or borrowing of securities for brokers, dealers and investors.
ERISA Lawsuit Filed Against Olin Corp.
The claims closely resemble those in prior suits filed by the law firm Capozzi Adler.
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
Among other things, the RISE Act would encourage retirement savings by allowing plan sponsors to offer small financial incentives to motivate employee participation.
Judge Gives Plaintiffs in LinkedIn ERISA Suit Another Chance
The judge said he found deficiencies in their claims of imprudence and disloyalty related to certain investments and fees and is giving them time to correct the issues.
Expect More Difficulty Obtaining Fiduciary Insurance
Issuers of fiduciary liability insurance are paying close attention to the glut of lawsuits filed in recent years against plan sponsors and fiduciary service providers—and they don’t like...
American Rescue Plan Act Turns Things Around for PBGC Multiemployer Plan Program
For the first time in 20 years, both of PBGC’s insurance programs are reporting positive net financial positions.
Huntington Ingalls Settles Lawsuit Over Use of Outdated Mortality Tables
The company has agreed to recalculate monthly benefits for participants and beneficiaries in the ‘legacy’ part of a pension plan.
Maximum Benefit and Contribution Limits Table 2022
Maximum Benefit/Contribution Limits for 2017 through 2022, with a downloadable PDF of limits from 2012 to 2022.