Complexity of QPAM Proposal Could Be a Concern
Attorney calls the objectives of EBSA's proposed amendment 'sensible,' but said implications could be 'unexpected and worrying.'
Compliance
Justice Department Drops Pennsylvania PSERS Probe
The pension fund had been under investigation for more than a year over an accounting error in 2020.
Passive TDF Performance Scrutinized in Latest String of ERISA Lawsuits
A new complaint against Booz Allen Hamilton alleges that ‘a simple weighing of the merits and features of all other available TDFs’ would have raised significant concerns for...
Where Does the Securing a Strong Retirement Act Stand?
Experts are optimistic regarding the future of the retirement reform legislation that seeks to build on the SECURE Act, but some uncertainty remains.
Senators Press Fidelity on Bitcoin Exposure
In a letter, the Senators question why Fidelity would allow retirement plan participants to be exposed to the ‘untested, highly volatile asset.’
Qualified Professional Asset Manager Exemption Changes Proposed
The Department of Labor’s proposal will affect a prohibited transaction exemption that permits certain parties related to retirement plans to engage in transactions involving plan and individual retirement...
TriHealth Excessive Fee Ruling Partly Remanded by 6th Circuit
The short appellate ruling notes that new precedents have overtaken some of the debates in the case.
IRS Addresses Mergers Involving DB Plans That Have Received SFA
The ongoing plan must still separate special financial assistance funds and invest them according to final regulations.
ERISA Lawsuit Levelled at Another Health System
The complaint alleges that an imprudent fiduciary process resulted in the selection and maintenance of several funds in the plan that ‘wasted assets because of unnecessary costs.’
SEC Secures Sizable Settlement From Equitable Financial
According to an SEC announcement, Equitable gave investors the false impression that their quarterly account statements listed all fees paid during the period.
Dismissal Motions Rejected in UMMS ERISA Lawsuit
The defendants contest their process ensures that any fees paid by participants are reasonable and all services and investment offerings are in the best interests of the participants.
Tough Questions About Social Security’s Solvency
Solvency issues tend to be much less of a concern for people already living in retirement than they are for people who are on the cusp of retirement...
DOL Sues Multiple Employer Plan Administrator
Labor Secretary Marty Walsh has alleged several ERISA breaches.
Parties File Settlement Agreement in MEP ERISA Lawsuit
The gross settlement amount tops $1 million, of which a third can be used to pay the plaintiffs’ attorneys’ fees.
Lawsuit Alleges $751K Retirement Account Theft
A plan participant saw her whole defined contribution retirement account balance vanish.
Experts Analyze the Finalized Union Pension Relief Funding Framework
A handful of important changes were made this week to the Pension Benefit Guaranty Corporation’s Special Financial Assistance program for struggling union pensions.
Fresh Excessive Fee ERISA Complaint Lodged Against 403(b) Plan
An educational institution is the latest to face a lawsuit alleging that plan fiduciaries breached their fiduciary duties to participants.
Final Stressed Union Pension Assistance Rule Issued by PBGC
After months of operating on an interim basis, the Special Financial Assistance program for multiemployer pensions has been formally finalized within the Pension Benefit Guaranty Corporation.
Hopes Are High for Lame-Duck Passage of SECURE 2.0
One retirement industry policy expert says the conversations she is having on Capitol Hill make her optimistic that the ambitious retirement reform package could pass after the November...
High Managed Account Fees Alleged in Kellogg ERISA Lawsuit
The plaintiffs say the defendants failed to leverage the size of Kellogg’s plan to secure reasonable fees for recordkeeping and managed account services.