Warren Says Empower Responses to Questions About 401(k) Private Equity Investments Inadequate
An Empower spokesperson said the company is currently not commenting on the possibility of a response to Warren’s second letter,...
Compliance
Senate HELP Committee Hearing Will Highlight Retirement Benefits for Independent Workers
The session will explore ways to modernize federal labor laws to better support gig workers, freelancers and other nontraditional earners.
Senators Propose Legislation to Improve Retirement Security for Gig Workers
The package includes four coordinated bills, which are designed to expand portable workplace benefits, including health care and retirement savings,...
DOL Files Amicus Brief in Support of Companies in 401(k) Plan Forfeiture Complaints
In filing an amicus brief to an appeal involving HP Inc., the Department of Labor offered guidance on an issue...
District Court Sides With Challenges to DOL’s Fiduciary Standards
A judge struck down parts of Prohibited Transaction Exemption 2020-02 that allowed the Department of Labor to treat certain relationships...
New York City Bar Committee Makes Recommendations to Strengthen Retirement Security
In a letter, the committee, comprised of legal professionals representing employee benefits stakeholders, expressed concern that legislative shifts aimed at...
Empower Responds to Private Markets Inquiry from Senator Warren
The asset classes should be available to retirees to help with the ‘democratization of private investing,’ Empower CEO Edmund Murphy...
Retirement Industry Responds to Passage of ‘Big Beautiful Bill’
Notably, the defined contribution retirement plan sector is relatively unchanged by President Donald Trump’s key legislation.
DOL Submits Request for Information About PEPs to OMB
The request, made July 1, indicates the Department of Labor is preparing PEP-related reports, per provisions in the SECURE and...
Massive Tax and Policy Bill Signed Into Law
President Trump signed the measure that preserves tax deferral for retirement savings, raises taxes on certain endowments, makes cuts to...
Parties Agree to $48.5M Settlement in Pentegra Fiduciary Breach Case
A jury awarded plaintiffs in the case, Khan et al. v. Board of Directors of Pentegra Defined Contribution Plan et...
Auto-IRA Program Approved by Massachusetts Legislature
The FY 2026 budget bill includes the provision creating the Massachusetts Secure Choice program.
Supreme Court Seeks Input from Solicitor General in 401(k) Fees Case
Originally filed in 2021, the lawsuit alleges the company violated ERISA by retaining target-date funds that were high cost and...
Natixis Prevails at Court in ERISA Complaint
The judge ruled that the defendants had not breached their fiduciary duty by acting in their own interests, following a...
EBSA Eliminates Three Interpretive Bulletins, Calling Them ‘Unnecessary’
The Department of Labor’s Employee Benefits Security Administration announced on Monday that it is removing three interpretive bulletins related to the Employee...
SEC to Evaluate Use of PE and Alternatives in Retirement Accounts
The SEC's Office of the Investor Advocate as previously highlighted potential risks for retail savers posed by the expansion of...
Aronowitz Clears Senate Committee Vote to Head EBSA
Trump’s nominee now moves to a full Senate vote to determine whether he will lead the Department of Labor agency tasked with...
Senator Warren Wants Information About Empower’s Push Into Private Equity for 401(k) Plans
Democratic Senator Elizabeth Warren wrote to the company’s CEO, Edmund Murphy III, outlining concerns about the asset class and demanding...
Former CFA Institute CMO Accused of Embezzling $6M
An indictment alleges that Michael Collins stole funds from multiple employers by invoicing them for nonexistent services from companies he...
The Math Behind Why the Senate Tax Bill Seems Cheaper Than House Version
Even though both bills share many provisions, the estimates from the congressional Joint Committee on Taxation are based on different...