Compliance

The federal government, via the solicitor general and the DOL, is increasingly favoring employers in ongoing ERISA litigation, including on pension risk transfer transactions. 

The fintech company asserts legal backing in its public dispute with the nation’s largest recordkeeper. 

Senators and witnesses engaged in a wide-ranging, hour-long debate on the future of saving. 

Plan sponsors can now submit standard termination filings and coverage determination request forms online.

A federal district court in Virginia ruled that defendants had discretion on how to use the forfeited funds. 

Lack of standing again doomed the case that had been amended twice, but the plaintiffs were granted leave to amend it again. 

According to the bill’s authors, it would enable retirees to consolidate their assets and simplify their retirement savings.  

The guidance lays out regulatory and statutory changes that might require plan amendments.  

A district court judge had ruled that the retailer’s use of forfeited funds complied with plan documents and the law.

The bill features more than 20 measures that have successfully progressed out of committee. 

The savings accounts for children are expected to go live on July 4, 2026.

Republicans are seeking stricter pleading standards, while Democrats want to uphold the Supreme Court’s Cunningham v. Cornell standard.

ERIC, Chamber of Commerce, National Retail Federation File Brief in Support of Dismissed Forfeiture Complaint

Lawmakers also introduced a bill to ease retirement savings for seniors. 

The current administration’s abandonment of the 2024 Department of Labor proposal to apply fiduciary rules to retirement investment advice is now complete.

Thrift Savings Plan participants will soon be able to convert their balances to Roth accounts within the plan, expanding retirement flexibility but adding tax considerations.

The court upheld the decision of a New York district court, ruling that the pension plan's investment strategy did not violate fiduciary duties.

Maximum Benefit/Contribution Limits for 2021 through 2026, with a downloadable PDF of limits from 2016 to 2026.

The decision to withdraw from the court battle likely marks the end of the lengthy dispute over the retirement investment advice regulation.

The department stated that non-citizens will be ineligible for the tax credits scheduled to go into effect in 2027.