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Plan fiduciaries were accused of breaching their duties of prudence by investing some of the retirement plan’s assets in hedge funds and private equity funds in the 2019...

The decision marks the second reversal of a Biden-era rule from the department this week.

Daniel Aronowitz was nominated in February to serve as assistant secretary of labor for the Employee Benefits Security Administration.

The new guidance rescinds the previous administration’s 2022 compliance direction to plan sponsors, urging them to exercise ‘extreme care.’

The departments sought information and released updated guidance aimed at creating nationwide cost consistency for medical services and prescription drugs.

Education and tools plan sponsors can reference to help protect retirement plan assets and ensure the financial security of plan participants and beneficiaries. 

The initiative seeks to identify and explore what qualities will define the future leaders in the sector.

A new report from the Institutional Retirement Income Council urged employers to equip pre-retirees with tools for sustainable income planning. 

The legislation would establish an independent inspector general for the agency that administers the retirement plan for more than 7 million federal employees. 

TIAA expands its retirement product team; Mutual of America names a CFO; FINRA appoints a new public governor; and more.

The external breach occurred last summer and may have exposed retirement plan participants’ personal data, such as Social Security numbers and bank information.

Tiara Yachts Inc. accused the health insurance administrator of overpaying medical providers and collecting fees directly tied to ‘inflated’ payments it authorized.

Vanguard expands tax-exempt ETF lineup; Cohen & Steers, IDR launch hybrid real estate strategy; Congruent Solutions implements streamlined payroll, HRIS integration; and more.

Included in House Republicans’ ‘Big Beautiful Bill’ are investment accounts promoting financial security for American children.

The bill would allow periodic automatic reenrollment in workplace retirement plans for workers who opt out of contributions.

According to several research reports, U.S. workers are increasingly concerned about inflation and outliving their savings in retirement, triggering a reduction in savings.

The product offers insights from public health care pricing data to assist plan sponsors with managing rising costs and reducing fiduciary risks.

Former employees allege the retirement services provider breached its fiduciary duties by opting for high-cost investment options despite better alternatives. 

Whether non-ERISA 403(b) plans should have access to invest in collective investment trusts was a point of contention during the committee meeting.

The insurance company joins a laundry list of recent retirement plan providers facing similar litigation.