Second Lawsuit Filed Against Cigna Over 401(k) Plan Forfeitures
A separate lawsuit also alleging misuse of plan forfeitures was filed against the health care company in May, as similar...
Compliance
ERISA Advisory Council Releases QDIA Recommendations to DOL
The report was released after Democrats in Congress raised concerns about the council’s future, as it has not met since...
SEC’s Director of Investment Management to Step Down
Natasha Vij Greiner, who has led the division since March 2024, leaves after more than 23 years at the SEC.
Court Narrows Scope of Liberty Mutual Case, But Allows Single Claim to Proceed
In Massachusetts, while a federal judge granted partial summary judgment in favor of Liberty Mutual, an alleged breach of the...
Predicting a ‘Busy, Active Time’ at the DOL and EBSA
Panelists at PLANSPONSOR National Conference discussed the latest updates on ESG investing, cryptocurrency and the status of including alternative assets...
EBSA Nominee Says He Will End ‘Regulation by Litigation’
Daniel Aronowitz pledged Thursday to reduce litigation and expand retirement benefits and also to end a “war on ESOPs.”
Electronic Disclosure Bill Introduced in Senate
The House version of the bill, prioritizing electronic delivery of SEC-required disclosures, has already cleared committee.
EBSA Budget Request for FY26 Down 5% from FY25
The Pension Benefit Guaranty Corporation, which provides financial assistance to distressed pension plans, also requested a smaller budget at $21.8...
Court Affirms Dismissal of Intel Investment Lawsuit Over Alternative Investments
In a 2019 suit, plan fiduciaries were accused of breaching their duties of prudence by investing some of the retirement...
DOL Introduces Multi-Agency Opinion Letter Program
The initiative aims to improve compliance assistance by providing more accessible guidance about federal labor laws across five agencies, including...
Latest 401(k) Forfeiture Lawsuit Filed Against UBS
The investment bank was accused of mismanaging forfeited funds in its 401(k) plan by using them toward reducing employer contributions.
DOL Announces Intentions to Craft New ESG Retirement Investing Rule
In April the department stated it was considering rescinding the 2022 ESG rule and asked the 5th Circuit to pause...
EBSA Head Nomination Hearing Scheduled for June 5
The hearing, for Daniel Aronowitz as assistant secretary of labor for the Employee Benefits Security Administration, was scheduled by the...
Government Agencies Continue Push for Increased Health Care Pricing Transparency
The Departments of Labor, Health and Human Services and Treasury sought information and released updated guidance aimed at creating nationwide...
DOL Rescinds 2022 Cryptocurrency Guidance for 401(k) Plans
The 2022 compliance assistance bulletin told plan fiduciaries to exercise ‘extreme care’ before adding a cryptocurrency option to a 401(k)...
DOJ, FTC State Position in ESG-Related Coal Suit Against Largest Asset Managers
The DOJ has taken a side in a case accusing BlackRock, State Street and Vanguard of suppressing prices in the...
House Bill Aims to Increase Oversight of Federal Retirement Thrift Investment Board
The legislation would establish an independent inspector general for the agency that administers the retirement plan for more than 7...
Data Breach at Alera Exposed Data of More Than 10,000 Individuals
An external breach, which occurred last summer, may have exposed retirement plan participants’ personal data, such as Social Security numbers...
What to Know About GOP’s Proposed ‘Trump Accounts’
Included in House Republicans’ policy package are investment accounts promoting financial security for American children.
Senate Bill Supports Retirement Plan Reenrollment
Senators introduced legislation that would allow periodic automatic reenrollment in workplace retirement plans for workers who opt out of participating.