Compliance | May 15th, 2023 ESOP Lawsuit Follows Sale to Private Equity Firm A New Jersey-based graphite manufacturer is alleged to have failed to operate the employee stock ownership plan in the best...
Compliance | May 11th, 2023 University of Vermont Medical Center Plan Sued for ERISA Breaches The university medical center’s retirement plan failed to disclose revenue sharing or float income and caused workers to pay excessive...
Compliance | May 8th, 2023 DOL Sues Shuttered Arizona Computer Company Profit-Sharing Plan The Department of Labor alleges a closed computer equipment supplier and services company abandoned responsibility for its profit-sharing plan in...
Benefits | April 17th, 2023 DOL Sues Profit-Sharing Retirement Plan of California Consultant The Department of Labor alleges an environmental consultant abandoned responsibility for its profit-sharing retirement plan in the late 1990s.
Compliance | April 14th, 2023 Study Shows State-Built Retirement Programs Complement Private Plans New state-facilitated initiatives may boost private sector plans, not crowd them out, a Pew analysis of federal data shows.
Compliance | March 1st, 2023 Senate Follows House in Rejecting DOL ESG Rule A resolution to nullify the rule to allow for ESG factors in retirement plan investments will now go to Biden’s...
Compliance | February 28th, 2023 House Votes to Overturn Rule Allowing ESG Investing in Retirement Plans The resolution next moves to the Democratic-majority Senate.
Compliance | February 28th, 2023 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...
Compliance | February 28th, 2023 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...
Compliance | February 22nd, 2023 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...
Compliance | February 22nd, 2023 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...
Compliance | February 17th, 2023 Tuberville Returns With Call for Crypto Access in 401(k) Plans The Republican senator also argued that the DOL should not be dictating what investments may be offered through the self-directed...
Deals and People | February 16th, 2023 Labor Secretary Walsh Departing to Lead NHL Player Union The DOL confirmed reports that Walsh will depart in mid-March; deputy secretary Julie Su will serve as acting secretary.
Compliance | February 15th, 2023 DOL Sues Defunct Firm for Retirement Asset Distributions A new Department of Labor lawsuit targeted a telemarketing company that closed without processing workers’ retirement claims.
Compliance | February 15th, 2023 Lawsuit Against New England Health Care Provider Will Proceed The U.S. District Court in New Hampshire has scheduled a pretrial conference for next month.
Compliance | February 14th, 2023 Federal Judge Strikes Down DOL Rollover Advice Guidance A U.S. District Court ruled against Department of Labor interpretation that made rollover recommendations count as fiduciary advice.
Compliance | February 13th, 2023 DOL Seeks More Comments on Correction Program The Department of Labor extended to mid-April the deadline for public comments on amendments to the Voluntary Fiduciary Correction Program...
Compliance | January 6th, 2023 Professional Athlete Sports Agency Is Accused of Retirement Asset Theft The Department of Labor alleges that a Houston sports agency used retirement assets to operate the company.
Compliance | December 22nd, 2022 Plan Sponsors Have Myriad Responsibilities to Protect Against Cyberthreats Plan sponsors should begin with the Department of Labor’s guidance on cybersecurity, proceed to fill an arsenal of safeguards to...
Data and Research | December 13th, 2022 EBSA Collects $1.4 Billion, Largely from Enforcement, in 2022 More than $500 million of the recoveries returned to defined benefit plan participants.