DOL Amicus Brief Supports Dismissal of SAS Plan Forfeiture Suit
This is the department’s latest brief supporting employers whose use of forfeited, unvested 401(k) matching contributions has been challenged.
Compliance
Senate HELP Committee Delays Vote on Secretary of Labor Nominee
The vote on advancing the nomination of Acting Secretary of Labor Keith Sonderling is expected to take place next week.
DOL Lacked Safeguards for Common Interest Agreements, per Inspector General
The Department of Labor increased the risk of data misuse, according to the inspector general’s testimony before a House panel.
SEC Enforcement Deputy Director to Leave Agency
The Securities and Exchange Commission announced Wednesday that Sam Waldon, principal deputy director of its Division of Enforcement, will leave...
DOL Brief Sides With Bristol-Myers in PRT Appeal
Amicus briefs by the Department of Labor, business groups, insurers and states argue that litigation would harm the pension risk...
House Bill Would Limit Tax Breaks for Multimillion-Dollar Retirement Accounts
Only individuals and couples with high salaries and retirement account balances higher than $10 million would be affected by the...
CFP Board, FINRA Consider Rules Feedback
The potential change to how the CFP Board treats applicants with expunged convictions comes as FINRA considers a five-year statute...
ERIC Files Brief Backing Dismissal of Pepsi’s Tobacco Surcharge Case
The ERISA Industry Committee argues that if a circuit court allows for the case to process, it would discourage the...
Proposed Senate Bill Simplifies Form 5500 Filing
The legislation, which would streamline annual filing requirements for plan sponsors, mirrors a House proposal.
Bipartisan Bill Wants Social Security Advisory Board to Offer Solvency Solution
The board currently has three seats vacant—and any recommendations on Social Security would need congressional approval.
Plan Fiduciary Had Alleged Affair With Adviser, Now Faces ERISA Charges
Separate from her divorce proceedings, the plan fiduciary is accused of losing $2 million in investments in her 401(k) and...
Labor Secretary Nominee Sonderling Faces Senate Questions on Ethics, AI
During Acting Secretary of Labor Keith Sonderling’s confirmation hearing, Republicans praised his prior experience but Democrats questioned his support of...
Treasury, IRS Hear Case for Trump Account Auto-Enrollment
Speakers at a public hearing argued that reducing enrollment barriers and leveraging state programs could expand access to the new...
SEC Proposes E-Delivery as Default for Investor Communications
The Securities and Exchange Commission on Thursday proposed a rule that would make electronic delivery the default for most required...
Academic Paper Lays Out Importance of Reforming Social Security Before Fund Depletion
Delaying reform could trigger fiscal and debt crises in the next decade, according to the Mercatus Center.
Retirement Industry Groups Want Northop Grumman’s Forfeitures Case Dismissed
The amicus brief filed by employer and business groups argues that the company’s retirement plan grants administrators discretion in allocating...
Bisignano Adds Trump Account Expansion to SSA, IRS Leadership Roles
Frank Bisignano, the Social Security Administration commissioner and IRS CEO, is tasked with supporting the ‘continued growth’ of the Trump...
Medicare Outpatient, Drug Expenses to Strain US Fiscal Resources, per CRR
In 11 years, the US is slated to pay more for Medicare than Social Security, according to research by the...
AT&T Seeks to Settle Pension Class-Action Lawsuit for $184M
Pending district court approval, the agreement would conclude an ERISA case accusing the company of reducing pension payments.
Bill for CITs in 403(b) Plans Backed by 30 Retirement CEOs
The industry leaders urged the Senate committee to prioritize and approve the legislation, as Congress approaches its August recess and...