Compliance

The company’s energy division still faces a separate complaint that was filed last week.  

The organization requested the department reconsider its decision to rescind prior guidance, which it stated could slow the adoption of annuities in retirement plans.

The lawmakers scratched a planned vote on a third piece of legislation that had been scheduled.

The plaintiffs accuse the company of excessive recordkeeping fees and managed account charges, poor-performing funds and using forfeitures to offset employer contributions.

Three plan participants alleged 75% of the retirement plan’s $1.6 billion in assets under management was invested in poor-performing, low-rated, proprietary investments.

The insurance expert, who awaits a full Senate vote, said he would ‘end the war on ESOPs’ if confirmed.

The Department of Labor requested industry advice on how to improve pooled employer plans and make them more effective for small businesses.

The hack was noticed one day after malicious actors gained access to a CRM system used by the insurer.

Senators scheduled the markup after a hearing on Thursday in which they discussed the proposed legislation.

The legislation, introduced in the Senate in May, would allow employees younger than 21 to participate in their company’s 401(k) plan.

Filing after the Department of Labor’s amicus brief, Illinois plaintiffs allege that a grocery company violated its fiduciary duty by ‘failing to promptly exhaust forfeited funds.’

Two former employees of Nokia North America allege that the company failed to replace poorly performing funds. 

Congress has introduced two bills this year regarding the agency’s practices. 

The Department of Labor announced its 2023 advisory opinion no longer reflects its views.

The legislation would mirror benefits offered to for-profit entities under the SECURE Act. 

The agency provided guidance about tax withholding and reporting obligations for reissued checks.

With a presidential directive expected to come in the coming weeks, industry experts weigh the risks and rewards of the asset class.

The filing was a win for plan sponsors, though it is not expected to end the recent flurry of litigation alone.

The senator said the company failed to adequately answer questions from her June 18 letter as the industry awaits an executive order from President Donald Trump encouraging inclusion...

The maturing defined benefit industry offers meaningful retirement security but requires oversight and governance, according to October Three.