Compliance

Opponents say the proposed regulation on mutual funds would create a two-tiered system that disadvantages retail and retirement investors.

The Plasterers and Cement Masons Local No. 94 Pension Fund will see a full restoration of cut benefits.

The plan’s former trustee, Reliance Trust Company, settled a complaint following an investigation.

The back-and-forth between the former pilot and the air line over ESG considerations continues in federal court in Texas.

Industry advocates submitted a brief encouraging the 9th Circuit to rehear a decision against AT&T in a 2017 excessive fee case.

The DOL sent a new fiduciary rule for an interagency review before its publication in the Federal Register.

The pension would have had to cut benefits by 75% upon becoming insolvent.

House Republicans again push to roll back ESG investing for plan participants.

Industry watchers expect the Department of Labor to submit a proposed new rule this month.

The Department of Labor sued Minnesota technology consultant Virtual Matrix after an investigation found fiduciaries of the profit-sharing plan permitted the employer to benefit from plan assets.

A notice of rulemaking has not been issued yet, but Republican leaders are already discouraging the Department of Labor from proposing a new fiduciary rule.

A fiduciary can use climate funds, as long as they ‘equally serve’ the financial interests of participants.

Following the cyberattack, which impacted at least 60 million individuals, several major financial services firms are getting hit with litigation.  

The plaintiff responds to an American Airlines motion to dismiss by alleging he was, in fact, defaulted into ESG-related funds that underperformed. 

One plan had been insolvent since 2009, and the grant will include back payments.

A federal court has dismissed a case alleging that the DOL overstepped its bounds when warning recordkeepers and fiduciaries against offering cryptocurrency in retirement plans.

The pension risk transfer deal only affects retirees and is not tied to a plan termination. 

Notice 2023-62 also announces a two-year administrative transition period for higher-income participants to designate catch-up contributions as Roth. 

Mid-year report finds there were fewer cases filed, as plaintiff law firms catch up on those they brought in 2022, but new entrants are using more accurate fee...

The former director of academic information resources at Howard University has sued the higher education institution, employees’ pension plan and Howard University Retirement Plan Committee.