Compliance

A lawsuit against Lockheed Martin over pension risk transfers it conducted with Athene will continue, whereas a similar lawsuit against Alcoa Corp. was dismissed.

Experts recommend retirement plans conduct fiduciary education and training sessions at least annually and any time a new member joins the plan committee.

While outsourcing advisers or consultants can help relieve plan sponsors’ administrative tasks, it does not absolve them of fiduciary responsibility.

Who are retirement plan fiduciaries and what does ERISA require them to do?

Plan fiduciaries have been accused of failing to prudently invest cash held in employee stock ownership plan trusts in recent cases.

Former employees alleged that the company had mismanaged its health plan, causing employees to overpay for prescription drugs.

The restraining order was issued days before a nomination hearing for Frank Bisignano, Trump’s nominee for commissioner of the Social Security Administration, is scheduled.

The Employee Benefits Security Administration’s updated self-correction tool launched this week.

The lawsuit claims that Lockheed Martin used underperforming target-date funds with high fees in its 401(k) plans for the company’s own benefit.

The company was accused of using an in-house stable value investment that underperforms competitors.

The defendants claim the company breached its ERISA fiduciary duty by putting business interests ahead of the plan and its participants.

Janet Dhillon was selected to serve as the next director of the Pension Benefit Guaranty Corporation, pending Senate confirmation.

Monday’s full Senate vote came after President Donald Trump’s pick to head the Department of Labor was cleared by the HELP Committee last month.

The probationary employees and head of the Department of Labor’s Division of Employee Ownership, who were recently terminated, reportedly received notices that their positions will be reinstated.

403(b) plan sponsors face unique challenges when complying with certain SECURE 2.0 provisions, such as long-term, part-time rules and joining a MEP or PEP.

The agency plans to reduce its staff to 50,000 employees, in accordance with President Donald Trump’s executive orders to slash the federal workforce.

Workers at the energy company claimed that PPL included underperforming target-date investments from Northern Trust in four of its retirement plans.

A third-party administrator of 403(b) and 457(b) plans experienced a cyber breach last month, exposing sensitive information of more than 48,400 retirement plan participants.

ERISA attorneys review what the law and a decade or more of case law require of plan sponsors.

Federal advisory committees have become targets in President Donald Trump’s efforts to downsize the federal government.