Compliance

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...

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.

A bill introduced by California state senators proposes increased regulation on pharmacy benefit managers, which have come under fire recently.

The Department of Labor will move digital content to USA.gov in September to streamline information about federal benefits, including Social Security and Medicare.

Employees had accused the company of overcharging participants for bundled recordkeeper fees and failing to solicit competitive bids for lower-fee options.

A Schlichter Bogard-led complaint alleges that providers pushed participants into retirement advice that led to TIAA annuity investments.

Workers claiming Home Depot mismanaged their 401(k) plan investments saw the district court decision in Home Depot’s favor affirmed on appeal.

Sponsors have both legal and practical ramifications to weigh.

Plaintiffs accuse the bank of requiring participants and beneficiaries to pay high costs for generic prescription drugs that are ‘widely available at drastically lower prices.’ 

The way Roth-style accounts are reflected in the federal budget mean they will likely continue to drive often-complex retirement plan features.

The full amount is $5.7 billion, issued through the federal SFA program.

Decision in the American Council of Life Insurers’ case adds a stay on prohibited transaction rule.

A Texas federal court judge sides with insurers, issues a preliminary injunction of the fiduciary rule.

Employers can limit their exposure with documented, prudent processes for selecting health plan providers and pharmacy benefit managers.  

According to the latest Pension Benefit Guaranty Corporation projection report, solvency is expected for both insurance funds.

The Texas court will re-hear the challenge to the 2022 Department of Labor rule on 401(k) plan investing, now without relying on Chevron deference.

The changes apply to annuities, Roth sources and spousal beneficiaries.

The system comes shortly after the DOL amended a rule to include Chapter 7 bankruptcies. 

Inherited retirement assets will be subject to different treatment depending on the recipient, starting in 2025.

IRI believes that standard data will increase the comparability and marketability of annuity products.