SEC Proposes Rule to Increase Securities-Lending Market Transparency
The Dodd–Frank Act mandated that the agency increase transparency regarding the loaning or borrowing of securities for brokers, dealers and investors.
Compliance
ERISA Lawsuit Filed Against Olin Corp.
The claims closely resemble those in prior suits filed by the law firm Capozzi Adler.
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage
Among other things, the RISE Act would encourage retirement savings by allowing plan sponsors to offer small financial incentives to motivate employee participation.
Judge Gives Plaintiffs in LinkedIn ERISA Suit Another Chance
The judge said he found deficiencies in their claims of imprudence and disloyalty related to certain investments and fees and is giving them time to correct the issues.
Expect More Difficulty Obtaining Fiduciary Insurance
Issuers of fiduciary liability insurance are paying close attention to the glut of lawsuits filed in recent years against plan sponsors and fiduciary service providers—and they don’t like...
American Rescue Plan Act Turns Things Around for PBGC Multiemployer Plan Program
For the first time in 20 years, both of PBGC’s insurance programs are reporting positive net financial positions.
Huntington Ingalls Settles Lawsuit Over Use of Outdated Mortality Tables
The company has agreed to recalculate monthly benefits for participants and beneficiaries in the ‘legacy’ part of a pension plan.
Maximum Benefit and Contribution Limits Table 2022
Maximum Benefit/Contribution Limits for 2017 through 2022, with a downloadable PDF of limits from 2012 to 2022.
2021 Best Practices Conference: Understanding ERISA and Fiduciary Fundamentals
Attendees at the virtual conference learned about what it takes to operate a plan that complies with all regulatory responsibilities and protects the employer and its benefits staff...
Mercy Health Agrees to Settle Suit Filed on Behalf of Three Retirement Plans
In addition to a $3.9 million payment, the fiduciaries will retain an independent consultant to review investments and fees.
Excessive Recordkeeping Fee Lawsuit Targets Kroger Co.
Beyond claiming the imprudent payment by fiduciaries of excessive fees for recordkeeping, the lawsuit also alleges the defendants failed to properly disclose the fees charged to participants in...
Service Provider Collaboration and the DOL’s Cybersecurity Guidance
Retirement plan sponsors may have difficulty achieving full compliance with the DOL’s cybersecurity guidance because many of the required actions are controlled by their service providers.
IRS Announces 2022 Retirement Plan Contribution and Benefit Limits
Most defined contribution plan participants can defer up to $20,500 to plans in 2022.
Getting Retirement Plan Help From the IRS
Retirement plan sponsors have several avenues for getting help from the IRS with general questions, technical issues and corrections.
IRS Issue Snapshot Reflects Changes to Hardship Withdrawal Rules
Though the document addresses changes for 401(k) plans, all but one of them applies to 403(b) plans as well.
DOL Alleges ESOP Sale Illegally Benefited Plan Fiduciaries and Their Children
The Department of Labor says the plan’s ownership interest was sold for less than market value, effectively transferring the rest of the stock’s value to board members and...
Familiar ERISA Complaint Filed Against KPMG
The complaint suggests the plan should have been able to negotiate highly competitive rates for investment and administrative services but failed to do so.
A Pro-ESG Framework That Could Finally Stick
Now that industry experts have had some time to digest the DOL’s new proposal regarding the use of ESG investment factors by retirement plan fiduciaries, many seem to...
Walgreen Co. Gets Rid of TDFs in Lawsuit Settlement
In addition to confirming the removal of challenged target-date funds, the defendants in the suit have agreed to a payment of $13.75 million.
Deemed Distributions Can Be Triggered by More Than Just Loan Nonpayment
The IRS reminds retirement plan sponsors of rules that, if broken, can result in loan amounts being deemed distributions.