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Vermont said the state will negotiate an agreement this year to help establish the new program, VT Saves.  

The action would appoint an independent administrator and distribute assets to the profit-sharing plan’s participants.

In addition to lower contribution rates, Black and Hispanic workers tend to withdraw money more frequently from their 401(k)s, resulting in significant account balance disparities compared to white...

The multiemployer plan was overpaid $127 million for the accidental inclusion of about 3,500 dead participants in their grant application.

The aerospace and defense contractor has agreed to a pending settlement in a lawsuit with a former participant.

A lawsuit against IBM’s pension plan will not proceed, following a judge’s ruling in U.S. District Court for the Southern District of New York.

Plan sponsors are expressing interest in qualified longevity annuity contracts as a way help participants protect against longevity risk and inflation.

Other SECURE 2.0 implementation issues are a much bigger worry.

Department is focused on several areas, including the need for clarity around when a participant educator is crossing the line into being a fiduciary and giving individual recommendations.

Department of Labor brings a lawsuit against the profit-sharing plan of a criminally indicted Pennsylvania mushroom farm retirement plan.

Kathryn Edwards, a labor economist and TikTok star, extolled the value of thrift savings plans and examined the status of Social Security in a recent webinar.

LeafHouse promotes Hendrix to executive VP of corporate strategy; adviser DeBello joins CAPTRUST; NEPC Hires O’Connor to head DC as Ryan is promoted to team lead; and more.

Despite net inflows to mutual funds in February, reversing the long-term trend of outflows is unlikely, according to analysts.

Voya adds bereavement, NQDC benefit services; Fidelity Investments bolsters financial education; BNY Mellon’s Pershing taps fintech provider to assist annuity process; and more. 

Formerly the head of fixed income, Chong-Wulff has been at MissionSquare since 2007.

The American Council of Life Insurers expressed support for DOL regulation, instead of an interpretive bulletin, to address concerns about selecting an annuity provider in a PRT deal.

A federal court in Maryland ordered a defunct engineering company and its owner to pay $388,458 to restore missing contributions to the company plan.

The Department of Labor alleges the plan fiduciaries at a tree service company used retirement assets from a profit-sharing plan to cover personal expenses.

Federal agencies are seeking advice on how to improve the reporting and disclosure system for retirement plans governed by ERISA.

The cost of a plan amendment to allow safe harbor and true-up contributions prompted Great Lakes Management Co. to allege USI Consulting Group acted negligently.