Happy Friday, PLANSPONSOR readers! The week started out with the announcement of an acquisition of Aon Hewitt’s HR and Benefits administration business. Then we faced another development affecting the retirement plan industry—President Donald Trump’s Labor Secretary nominee dropped himself out of consideration. Trump seems to have reversed course with his newest nominee. In other news, just as one retirement plan provider agreed to settle a self-dealing suit over its retirement plan for employees, another provider was just charged with self-dealing. Finally, we get research from Willis Towers Watson about a new way of thinking about diversification in this new market environment. All this and more in this edition of PLANSPONSOR Weekend!
Days after the surprise withdrawal of Andrew Puzder as President Trump’s Labor Secretary nominee, the White House is now confirming their new pick for the job, former member of the National Labor Relations Board R. Alexander Acosta.
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The lawsuit says the so-called “incentive” Yale offers for participating in the wellness program are in fact a “penalty” that violates non-participants’ right, and it notes that the Equal Employment Opportunity Commission (EEOC) withdrew the incentive portions of its wellness program rules.