House Votes to Overturn Rule Allowing ESG Investing in Retirement Plans
The resolution next moves to the Democratic-majority Senate.
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Julie Su Nominated to Replace Walsh at DOL
Biden tapped the deputy secretary of labor to take over as head of the DOL, with a Senate confirmation hearing to come.
Assistant Secretary Gomez Explains Upcoming EBSA Priorities
Effective disclosure, SECURE 2.0 and ESG are at the top of EBSA’s short-term agenda, according to EBSA Head Lisa Gomez.
IRI Priorities for 2023 Include Focus On Lifetime Income
The insured Retirement Institute wants regulatory and legislative changes in order to drive greater in-plan use of guaranteed lifetime income products.
CITs and Lower-Cost Funds Drive Down 401(k) Plan Fees
Investment fees paid by retirement plan participants continued to trend down, in 2022.
SS&C Hires Nelson From Tata Consultancy as Retirement Business COO
SS&C Technologies is plotting bolstered technology for retirement plans and asset managers to provide greater technology and financial wellness capability.
Retirement Industry People Moves
Virtus Appoints Head of DCIO; Bipartisan Policy Center hires new fellow; and more.
Representative DelBene Proposes Legislating DOL’s ESG Rule
The bill, if passed, would amend ERISA and remove the legal basis for challenging the use of ESG factors in retirement plan investing.
SECURE 2.0 Webinar Series: The Law Passed. Now What?
Optional provisions could spur benefits arms race among employers.
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Investment Product and Service Launches
Hub starts global risk solutions practice; FPA offers courses to address gaps in advisers elderly financial planning knowledge; and more.
Form 5500 Changes for 2023
The Department of Labor has published the Form 5500 changes for this year.
Retirement Accounts Up Despite Inflation, Volatility
Fidelity data shows that 74% of workers globally cite cost of living and inflation as sources of stress.
New Lawsuit Calls ESG Unlawful “Investing Fad”
A second court must now determine if ESG can be lawfully considered in retirement fiduciary decisionmaking.
Innovest Portfolio Solutions Fills Retirement Consulting Role
The investing and retirement plan consultant firm is hiring to support growth trajectory, according to the co-founder and CEO.
Aon Builds PEP Business With Four New Positions
Aon is betting on further pooled employer plan growth with added headcount.
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WTW Launches Its First Pooled Employer Plan
Retirement advisory WTW launches LifeSight PEP with Transamerica as recordkeeper.
Overturned DOL Rollover Rule Likely to Be Appealed, Attorney Says
The DOL is expected to appeal a district court’s decision, which could result in the rule being re-instated.
Construction Company Lawsuit Targets Its Retirement Plan Providers
The lawsuit filed by Martone Construction claims its retirement plan providers ignored requested investment trades and claimed that trading was limited to only Wednesdays.
Church-Exemption Ruling Could Have Wide Implications
A federal district court judge has widened the exemption to include an N.J. hospital in a lawsuit remanded back to the district court level by the Supreme Court.
Participant Retirement Assets Remaining In Plan Have Increased
Vanguard research on participant’s retirement distribution decisions in defined contribution plans over time revealed the emerging trend.