Compliance

The committee’s spending bill appropriates $14 million for the creation of a retirement account database.

Settlement comes about two years after initial complaint of fiduciary negligence and excessive fees.

The proposed class action brought by Twitter’s former head of people experience alleges Elon Musk and X Corp. violated ERISA fiduciary obligations.

The new rules are designed to increase MMF liquidity and protect investors from runs on the funds, starting in 2024.

The seminar will take place in Buffalo, New York, and aims to educate plan sponsors about basic fiduciary responsibilities.

The suit, filed in Massachusetts federal court, alleges retirement plan fiduciaries caused participants to pay excessive fees to plan recordkeeper Fidelity Investments.  

The final rule clarifies lump sum payments, de minimis amounts and payments to estates.

The FAQ also strengthens the health care cost protections of the No Surprises Act.

Concrete producer Di Ferraro Inc. failed to remit employee withholdings and loan repayments to the plan over six years, the Department of Labor alleges.

The proposed class of participants in Washington University in St. Louis retirement plans was rejected by the same judge who initially approved it in 2020.

The proposal would limit to four months use of short-term plans that Trump officials had allowed to be used for one year.

A Minnesota HVAC company is alleged by the Department of Labor to have misappropriated the retirement contributions of its’ employees, according to the lawsuit.   

MSES Consultants Inc. failed to fund its health plan for much of 2016, leaving participants and beneficiaries on the hook for health care costs. 

Workers should log-in to their recordkeeper’s website periodically to check online retirement accounts, the Department of Labor's Lisa Gomez advises. 

There is some good news for the financial wellness of debtors too.

The court’s conservative majority rejected President Biden’s plan to cancel up to $20,000 in student loan debt for eligible borrowers. 

Regulators warn sponsors offering these plans should make sure they are not essentially compensating an employee for non-medical expenses.

A jury decided almost entirely in the university’s favor in the nearly seven-year lawsuit.

Republicans focus on the environmental aspect of ESG in a recently published report on Republican policy goals concerning investor activism.

Experts note the importance of participant education and reviewing insurance held by vendors.