Judge Sets Trial Date for American Airlines ESG Lawsuit
The airline has sought to dismiss the litigation, but the trial could begin in late June of next year.
Administration
Former HR Head Sues Investment Manager Alleging Retirement Plan Breaches
The former director of human resources at alternatives specialist Weiss-Multi-Strategy Advisers has sued the company, adviser subsidiary and retirement plan trustee George A. Weiss.
Senate, House Far Apart on DOL Budget
The two appropriation bills are about $4 billion apart in terms of discretionary funding for the department.
Voya Financial Launches 403(b) PEP
Beginning August 1, Voya will bring what it is calling the very first pooled employer plan to employees of large nonprofits and other 501(c)(3) tax-qualified entities across the...
AI Tapped to Mine Form 5500s, Leverage Chatbots for Retirement
Newfront, a tech-focused advisory firm, recently brought its AI-driven benefit solutions to Congress and will be using AI capabilities to mine 5500s for plan sponsor clients, later this...
DOL Advises Plan Sponsors to Extend Enrollment Period for Employees Losing Medicaid
The unwinding of a COVID-19 policy that prohibited states from removing people from Medicaid and CHIP could leave hundreds of thousands without health coverage.
Auto-Portability, Step by Step
With recordkeepers accounting for 63% of the defined contribution market already on board, the Portability Services Network is picking up steam. Here’s how it works.
TECO Energy DB Plan Sued by Pension Beneficiary for Shortfall
The complaint alleges the Florida-based energy company and its pension plan failed to disclose material information in the summary plan description used to calculate lump sum payments to...
Hawaii Seeks Executive Director to Establish State Retirement Savings Program
The state’s private sector retirement plan, slated to take effect in July 2024, hopes to say aloha to its first leader after posting the position online this week.
Indiana Erector Set Manufacturer’s Former Chairman Sued by ESOP Participants
The plaintiffs allege fiduciary breaches occurred in a leveraged buyout after the company founder’s death.
Principal, T. Rowe Price Extend Retirement Planning, Product Solution Distribution Divisions
The investment managers and recordkeepers are expanding their focus with outside hires and promotions.
DOL Seeks Independent Fiduciary for 401(k) Plan of Closed NY Construction Company
When L D Wenger Construction Co. Inc. ceased operations, its 401(k) plan was deserted by the fiduciary, barring retirement plan participants from access to their retirement assets, the...
IRI Presses White House to Back Further Retirement Policy on Annuities
An insurance advocacy group follows up 2023 legislative plans with a push for policies that increase the use of retirement income products and CIT investment vehicles.
Salas O’Brien Plans to Address Pay, Workplace and Retirement Benefits
Salas O’Brien has plotted changes to compensation and workplace benefits, with Lucas Hellmer as the new director of benefits and compensation.
PSNC 2023: Addressing In-Plan Annuity Reluctance
Employers are reluctant to incorporate annuities in-plan because they don’t feel the best options have come to market yet.
PSNC 2023: Unique Issues for 403(b) Plan Sponsors
Experts at the PLANSPONSOR National Conference addressed the ebb and flow of employer efforts to align in-plan investments with organizational values.
BlackRock Reorganizes Public Policy Unit
Samantha DeZur was promoted to head of U.S. public policy as part of the changes.
Industry Concerns About Roth Catch-Ups Escalate
SECURE 2.0 Section 603 would require catch-up contributions made by those making more than $145,000 in wages to be made after-tax, and plan sponsors say it is probably...
PSNC 2023: Non-Intuitive Ways to Be a Good Fiduciary
Besides following ERISA rules and frequent fee benchmarking, there are several non-intuitive processes plan sponsors should know, according to a panel of experts.
Use of RFPs Versus RFIs Contrast For Plan Sponsors
Employers in disparate principal businesses approach RFPs versus RFIs differently, as plan sponsors perform searches for employee benefit providers