This week, the California attorney general proposed a set of important changes to the California Consumer Privacy Act (CCPA), giving stakeholders until February 25 to submit their comments.
The National Association of Insurance Commissioners sees its new conflict of interest regulations as working in harmony with the Securities and Exchange Commission’s Regulation Best Interest.
Allegations in the lawsuit, which has now cleared Rockwell’s dismissal motion, echo those filed in other lawsuits challenging the actuarial assumptions used by pension plan sponsors to value alternative forms of benefits other than the default.
As the enforcement date approaches for the sweeping Regulation Best Interest rulemaking package, FINRA is working hand-in-hand with the SEC to ensure effective coordination—and to support advisers working on associated compliance challenges.
The most recent national employer named in a mortality data lawsuit is the United Parcel Service (UPS), which is facing allegations very similar to those filed against MetLife, Pepsi, American Airlines and others.
Although the landmark legislation will take years before it is fully implemented, many of the provisions are already in effect—including two that require immediate changes to the 402(f) notice given to participants to help them understand their rollover options.
One analyst argues the landmark legislation’s lifetime income disclosure requirement may prove to be more influential than the annuity selection safe harbor.
UPS is not the first national employer to be accused of using outdated mortality tables and interest rate estimates in order to shortchange certain pension beneficiaries.
A federal judge found Voya is a fiduciary with respect to the 404a-5 participant fee disclosures it provides for the retirement plan in which the plaintiff participates.
The original lawsuit accuses Principal Financial Group of violating ERISA by setting the crediting rate for a guaranteed investment contract (GIC) such that it can “retain unreasonably large and/or excessive profits.”
A federal court has ruled that the University of Pittsburgh Medical Center’s lawsuit against CBIZ should not be dismissed as a matter of summary judgment.
After 15 years of litigation, a new ruling has been filed in the case by the U.S. 2nd Circuit Court of Appeals, remanding the case once again to a lower court.
Bradford P. Campbell, with Drinker Biddle, recently discussed specific requirements for open MEPs, now called pooled employer plans (PEPs), included in the SECURE Act.
The lawsuit resembles many others that have been filed under the Employee Retirement Income Security Act (ERISA), suggesting an employer permitted excessive recordkeeping and mutual fund fees in its 401(k) plan.
More than six years of litigation have preceded the announcement of a proposed settlement agreement in Hunter v. Berkshire Hathaway.
The court says “actuarial equivalence” may be a term of art, but it is in fact left undefined by the federal statutes governing pension plans.
The Shell Oil Company, several of its executives and multiple business units of Fidelity are all named as co-defendants in a complex fiduciary breach lawsuit filed in Texas.
Among its many popular provisions, the SECURE Act extended the age at which one must begin making withdrawals from tax advantaged savings.
Repeating a number of excessive fee lawsuits filed, the complaint says the defendants did not try to “reduce the plan’s expenses or exercise appropriate judgment to scrutinize each investment option that was offered in the plan to ensure it was prudent.”