Retirement Industry People Moves
New York Life Group Benefit Solutions promotes two into expanded leadership roles; Ocorian taps Buick as CFO; Mao named nonresident scholar at Georgetown’s retirement center; and more.
Latest News
ERIC Releases Priority Areas for Retirement, Health Benefit Regulations
The organization representing employment benefit leaders seeks clarity for a number of items in the SECURE 2.0 Act.
Employer Contributions Exacerbate Pay Inequity in Two-Thirds of Plans
Implementing dollar caps alongside other plan automation features may help foster more equity in plan design, new Vanguard research shows.
Products |
Product & Service Launches
T. Rowe Price partners with Ascensus to support its 529 business; Pontera and Stifel help 401(k) participants pursue retirement goals; MassMutual offers CAIS alternative investment platform to advisers.
Benefits |
EBSA Offers Retirement Planning Resources
The Department of Labor’s Assistant Secretary Gomez offers tools and information for assisting with the transition to retirement from work in a new blog post.
Industry Groups Recommend Fewer and Staggered Retirement Plan Disclosures
Retirement plan and benefit disclosures should only be given to participants if they contain actionable information, industry groups say.
Student Loan Debt Among Older Workers Impedes Retirement Savings
Millions of people aged 55 and above have outstanding student loans, significantly impacting how much they are able to save for retirement, analysis from the New School finds.
Bechtel Faces ERISA Litigation Over Default Managed Accounts
The retirement plan committee for the engineering firm’s $5.1 billion plan is sued over the fees participants paid after being defaulted into managed accounts.
Participant Spending Behavior Plays Role in Selecting QDIA, Guaranteed Income Solutions
New J.P. Morgan research finds that participants experience spending surges and volatility at different points of retirement.
PBGC Issues $54.6M SFA Package to UFCW Plan
The regional plan, based in New Jersey, has more than 4,000 participants in food service.
Senate Takes Up Plan Startup Retirement Tax Credit Legislation
The legislation mirrors another bill in the House, which increases credits for offering retirement plans for the smallest businesses.
Benefits |
Entergy to Transfer $1.2B in Pension Liabilities
Transaction with MetLife is one of several billion-dollar buyouts completed so far in 2024.
DOL’s Retirement Security Rule Challenged by Insurance Industry Associations
The 9 organizations tell a Texas federal court that the new fiduciary rule “exceeds the DOL’s authority under federal law” and call it “arbitrary and capricious.”
Retirement Industry People Moves
Gangwani named CIO of Legal & General Retirement America; ERISA attorneys hired by Norton Rose Fulbright and Nossaman; Abrdn CEO steps down as asset manager searches for a...
ERISA Suit Filed Against Packaging Company 401(k) Plan
Plaintiffs seek class status in case that alleges South Carolina-based firm permitted excessive fees on the $1.2 billion plan.
Data Breach at Merrill Exposes Personal Information of Walmart 401(k) Participants
An ‘isolated email error’ caused Walmart retirement plan participants’ names and Social Security numbers to be exposed.
Texas Judge Certifies Class in Pilot’s Anti-ESG Case
A class of participants was certified in a federal district court lawsuit against American Airlines’ Plan for Pilots.
EBSA Official Expresses Confidence in Legal Strength of Retirement Security Rule
Timothy Hauser explained in an ABA webinar that the new fiduciary rule is different from the old one and compliant with previous litigation.
Pension Risk Transfer Market Sets Q1 Record
The first quarter of 2024 has already seen two jumbo PRT deals, with Verizon and Shell offloading their pension liabilities.
SEC Might Drop Swing Pricing from Mutual Fund Liquidity Proposal
Instead, they would likely adopt liquidity fees, though Chair Gensler did not say so explicitly.