Compliance

With not enough senators at the hearing, the vote on confirmation of Acting Secretary of Labor Keith Sonderling to the full-time post could not take place.

Inspector general tells House panel that weak controls over information-sharing agreements risked public trust and exposed confidential data.

The legislation would put caps on and require distributions for people with massive balances.

Business groups, insurers and states joined the Department of Labor in warning that litigation threatens the pension risk transfer system.

According to the ERISA Industry Committee, a contrary ruling could undermine workplace wellness programs nationwide.

The legislation mirrors a House proposal that has already advanced out of committee, aiming to streamline annual retirement plan reporting.

The bipartisan commission typically makes recommendations, but Congress would have to craft the policy.

The federal court rejected most of the defendant’s bid to end the suit, but abstained from intervening in related divorce proceedings.

The acting secretary of labor testified during his confirmation hearing that Americans ‘deserve a Labor Department that is effective, accountable and responsive.’

Researchers, child welfare advocates and financial experts warned lawmakers that administrative gaps could limit families’ active participation.

The use of forfeitures to offset contributions continues to draw industry support.

The Social Security Administration commissioner and IRS CEO will add another, currently unclear, role, according to the Department of the Treasury.

The deal, if approved by a federal district court in California, would require updates to future pension calculations.

The legislation has stalled in the Senate, as other policy priorities loom before the August recess and midterm elections.

The Department of Labor cited an example from its proposed alts rule in siding with the employer. 

The organization’s amicus brief backed Intel and warned that allowing lawsuits based on hindsight would fuel costly litigation and harm 401(k) participants.

According to the National Association of Government Defined Contribution Administrators, 15 states currently allow for some automatic enrollment.

Recent court decisions suggest that using consumer artificial intelligence tools for legal guidance could jeopardize privileged communications, but the law remains unsettled.

The Office of the Inspector General called for stronger oversight and controls for sharing confidential information.

According to the company, the nation’s highest court must rely on an ‘apples-to-apples comparison’ when judging alleged underperformance.