Compliance

The Department of Labor has withdrawn a brief filed during the Biden administration backing allegations that Yale University’s employees paid excessive recordkeeping fees and were locked into poorly...

The cases allege breaches of fiduciary duty related to premiums for voluntary benefits not subsidized by employers.

According to the agency, the self-correction program now includes those multiple employer welfare arrangements that failed to submit required Form M-1.

The pause of a complaint related to underpayment of spousal pension benefits offers the parties 120 days to undertake private mediation.

The jointly issued proposal would expand data disclosures, expose utilization patterns and increase compliance responsibilities for employer-sponsored plans.

Other SECURE 2.0 provisions and pending legislation on 403(b) investments are also expected to shape sponsors’ compliance priorities.

Final operational details for the savings accounts for children, with a pilot program set to launch on July 5, have yet to be published.

Industry observers encourage employers to focus on information systems and communications as new Roth requirement for high earners rolls out.

The proposal aims to curb prescription drug pricing, according to the bill’s sponsors.

‘The U.S. and Australia are slowly evolving toward each other,’ one industry expert says: One is ‘nudging participation,’ while the other is ‘debating flexibility.’

Only students studying for certain professional degrees will be eligible for higher loan limits, but industry actors caution that nurses may be left behind.

With private markets investments a bigger focus for 401(k) plans, adoption will hinge on DOL guidance, fee transparency and whether sponsors can defend the fiduciary process.

Retirement plan sponsors balance digital convenience with participant protections under SECURE 2.0. 

The documents enable plan sponsors to determine additional benefits for employees whose compensation exceeds certain thresholds.

A schedule to help plan sponsors track important due dates for their retirement plans.

The legislation would require employers which lack a retirement plan but have at least 10 employees to automatically enroll employees in individual retirement accounts.

Changes affect terminated multiemployer defined benefit plans; plans using a variable annuity benefit formula; and terminated single-employer PBGC-covered plans.

The handoff will likely begin with plan sponsors and payroll providers, but the process becomes more complex after that. 

The president specifically called for 'strengthening' ERISA fiduciaries' responsibility to act in participants' financial interest. 

The notice shared details about new tax benefits for health savings accounts, including broader eligibility via high-deductible health plans.