After the Department of Labor removed employee stock ownership plans from its enforcement list, the new law will clarify valuation processes that led to litigation.
Abigail Benham becomes Manulife John Hancock’s head of retirement participant outcomes; The Hartford announces leadership transitions; and SEI appoints Kristie Edling-Day as chief information officer.
The decision leaves intact a ruling favoring a plan trustee and preserves differing interpretations among appeals courts about remedies available under ERISA.
State Street provides 4 additional market sector ETFs; DeepVest launches PlanLab platform; Allianz Life offers death benefit rider for RILAs; and more.
Florida, Georgia and Alabama employers lost a procedural defense that required participants to exhaust plan claims procedures before filing fiduciary breach complaints.
The 4th Circuit’s decision conflicts with other circuits in that administrative service agreements are not required by ERISA to be furnished to participants.
New York Life names head of group benefit solutions; ICI appoints managing director of Independent Directors Council; IRI appoints chief government, political affairs officer; and more.