Treasury, IRS Update Retirement Plan Correction Program, Create IRA Version
New guidance expands EPCRS and establishes an IRA correction program authorized by SECURE 2.0.
Compliance
Voluntary Benefits May Make Waves in ERISA Litigation
The magnitude of the litigation may hinge on the money at stake.
Trump Accounts Face Adoption Questions as Employers Weigh Complexity
As Treasury expands the children’s savings program, industry experts see workplace savings and payroll integration as critical to driving long-term...
SEC Approves FINRA Marketing Rule Allowing Projected Investment Performance, Targeted Returns
The new rule could accelerate the use of projected-return and retirement-income illustrations by broker/dealers.
ERIC Backs Employers in 2 ERISA Cases, Warns Against Expanding Fiduciary Liability
The employer group argues that recent cases seek to recast plan sponsor decisions as fiduciary acts.
Trump Signs ESOP ‘Ownership’ Bill
The codified framework for valuations of employee stock ownership plans is expected to reduce resulting litigation.
Supreme Court Declines to Hear Ruby Tuesday Appeal in Equitable Surcharge Case
The decision leaves intact a ruling favoring a plan trustee and preserves differing interpretations among appeals courts of remedies available...
Recordkeeper Contracts Can Be Plan Documents, per Federal Appeals Court
The 4th Circuit’s decision strays from what other circuits have held counts as an ERISA-covered document.
11th Circuit Scraps Longstanding ERISA Exhaustion Rule
Participants in Florida, Georgia and Alabama no longer need to complete plan claims procedures before filing fiduciary-breach litigation.
Social Security Cost-of-Living Adjustment Rises 3.6% for 2027
Monthly Social Security checks will increase by an average of $75.
Ohio Advisory Firm Owner Charged With Stealing Employees’ 401(k) Funds
Seku Shabazz is also accused of running a Ponzi scheme and of committing mortgage and identity fraud.
Lockton Companies Disability Benefit Ruled to Fall Under ERISA
A judge in the Southern District of California ruled the employer went beyond collecting employee premiums.
FINRA Outlines Q4 Regulatory Priorities
The regulator’s latest policy agenda highlights upcoming guidance and rulemaking on artificial intelligence and electronic delivery, which could affect financial...
DOL Prevails in Circuit Court Appeal Over Diverted Contributions, Unpaid Health Claims
The US 5th Circuit Court of Appeals affirmed a Louisiana district court’s decision to grant summary judgment on claims a...
DOL Names Fiduciary for Shuttered Aerospace Company’s 401(k) Plan
The court order will allow for the distribution of savings to eligible former employees.
Trader Joe’s Ordered to Pay $1.2M for Failure to Monitor ‘Excessive’ Fees
However, the grocery chain prevailed against claims it misused forfeited participant funds and offered poorly performing investments.
Rockland Trust Sued Over 401(k) Fund Performance
Participants claim the bank’s 401(k) plan invested in an underperforming managed mutual fund managed by T. Rowe Price.
Will Supreme Court’s Ruling on Intel Case Change Fiduciaries’ Benchmarking?
Some industry professionals believe plan sponsors and fiduciaries can start benchmarking individual funds, but others are delaying action until after...
DOL, Treasury, HHS Finalize Healthcare Pricing ‘Transparency’ Rules
The final regulations reduce reporting frequency for employer-sponsored health plans and insurers, while adding compliance, data-validation and governance requirements.
SEC Requests Final Judgment Against WAMCO Exec in Cherry-Picking Case
If the court approves, Ken Leech will have to pay a $3 million penalty.