Biden Administration Releases Final Rules on Mental Health Parity
The updates are meant to ensure that ERISA health plans provide the same amount of coverage for mental health and substance abuse care as for physical health care...
Compliance
DOL Clarifies Scope of Cybersecurity Guidance
Updated cybersecurity guidance from EBSA extends to all employee retirement benefit plans and health and welfare plans.
Lumen Technologies Faces Lawsuit Over PRT, Following Similar Cases
The telecommunications company conducted a $1.4 billion pension risk transfer with Athene Annuity and Life in 2021.
IRS and Treasury Request Comments on Saver’s Match Contributions
The regulators are seeking input by November 4 on the federal program scheduled to begin in 2027.
Bristol-Myers Squibb, State Street Targeted in Lawsuit Over PRT
The pharmaceutical company and investment manager are the latest to be accused of selecting Athene as its annuity provider in a $2 billion pension risk transfer it completed...
EBSA to Host Webinars on Health Plan Compliance, Retirement Planning
The Employee Benefits Security Administration announced upcoming webinars for employers, service providers and workers nearing retirement.
Salesforce Settles a Pair of 401(k) Excessive Fee Suits
The $1.3 million settlement pertains to litigation from 2020 and 2024 against the $5 billion retirement plan.
Home Depot Sued Over Use of Plan Forfeitures
The home improvement retailer is the latest company accused of using forfeited 401(k) funds for its own benefit, instead of paying plan administrative expenses.
SPARK Meeting Seeks to Identify Roth Catch-Up Needs
Recordkeepers and payroll providers met to decide on workflow to establish implementation processes for SECURE 2.0 Roth catch-up mandates.
SEC Backs Down on Swing Pricing
The regulator’s decision provides relief to mutual fund managers, despite some added reporting amendments.
DOL Supports Retirees’ Appeal to Revive Lawsuit Against IBM
The Department of Labor backed an appeal by IBM retirees to reopen a lawsuit against the firm for allegedly using outdated mortality tables to determine the value of...
GAO Finds Conflicts of Interest in Sale of Certain Retirement Investments
The interests of financial professionals and firms ‘often conflict with the interests of retirement investors,’ according to the watchdog’s report.
Siemens Targeted in New Forfeiture Lawsuit
The technology and manufacturing company is the latest accused of misusing forfeited retirement funds to pay for future employer contributions.
Nordstrom Suit, HP Revival Add to 401(k) Forfeiture Cases
A Wagner Law Group attorney says plan sponsors should review their plan documents, as Nordstrom is the latest employer challenged over its use of forfeited funds.
Benefits |
IRS Offers Interim Guidance on Student Loan Matching Payments
The notice is intended to help plan sponsors implement the match program, with plans for regulation offering further guidance to come.
Plaintiffs Gain Class Action Status in Genworth 401(k) Suit
A federal judge granted class action status to participants invested BlackRock LifePath Index Funds, in contrast to numerous dismissals for similar allegations.
IRS Forms Public-Private Committee to Combat Tax Fraud
The new coalition, an offshoot of the IRS’s Security Summit group, will work to reduce tax scams during the 2025 filing period.
District Court Strikes Down Missouri Anti-ESG Rules, Grants Statewide Injunction
A judge in the Western District of Missouri issued a final ruling in favor of a lawsuit filed by the Securities Industry and Financial Markets Association against two...
401(k) Forfeiture Lawsuits Continue to Advance
Lawsuits against Bank of America, Intuit and Qualcomm alleging improper use of forfeited plan funds are all either under consideration or moving ahead in district courts.
California Legislation to Regulate PBMs Puts Self-Insured Plans at Risk, ERIC Warns
A bill introduced by California state senators proposes increased regulation on pharmacy benefit managers, which have come under fire recently.