Compliance

DST Systems Inc. was accused of mismanaging its profit-sharing 401(k) plan and failing to diversify the plan’s assets, which resulted in large losses, according to the settlement.

The IRS notice also allows IRA beneficiaries to not take RMDs this year from accounts inherited in 2020 or later.

Special Financial Assistance funds were granted to three struggling pension plans by the PBGC on July 11.

When L D Wenger Construction Co. Inc. ceased operations, its 401(k) plan was deserted by the fiduciary, barring retirement plan participants from access to their retirement assets, the...

Congressional Republicans allege that proxy firms give advice based on political preferences, not investors' financial interest.

More than 371,000 retirement plan participants had data exposed in a breach in late May, according to PBI.

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.