Examining Joe Biden’s Retirement Savings Tax Credit Proposal
Experts steeped in the retirement planning industry wonder if the Democratic candidate’s proposed incentives are enough to prompt lower-income workers...
Compliance
Medical Device Manufacturer Hit With ERISA Excessive Fee Suit
The case against B. Braun Medical contains allegations similar to those in many complaints filed this year.
Wilmington Trust Faces Further ERISA Litigation Tied to ESOP Clients
The firm has previously settled similar challenges related to market price evaluation services provided to employee stock ownership plans.
Fund Argues Court Decision Shields PE Firms From Multiemployer Plan Withdrawal Liability
The New England Teamsters and Trucking Industry Pension Fund, in its long-running legal attempt to collect withdrawal liability, has filed a petition with the U.S. Supreme Court.
Court Agrees Colgate-Palmolive Miscalculated Cash Balance Benefit Payments
A court ordered Colgate-Palmolive to recalculate benefits paid to certain retirees from its cash balance plan but stayed the relief to allow time for an appeal.
Contemplating a Reversal of Regulation Best Interest
The past two presidential administrations have taken starkly different views on the topic of conflicts of interest in the financial...
Stakeholders Want More Substantive PEP Guidance from DOL
Though they applaud the direction the Department of Labor is taking, expert ERISA attorneys say a new proposed rule does not sufficiently explain how pooled employer plans can...
DOL Efforts Seem to Heighten Duties Before ESG Can Fly in Retirement Plans
Prior to the issuance of its proposed rule on ESG investing in retirement plans, the DOL sent letters to plan...
BTG International Agrees to Pay $560,000 to Settle ERISA Suit
The suit alleged excessive fees were paid to the recordkeeper of the company's 401(k) plan through undisclosed revenue sharing.
DOL Announces Hearing to Discuss PTE Proposal for Fiduciary Rule
The DOL is proposing a new prohibited transaction class exemption for investment advice fiduciaries.
iHeart 401(k) Plan Fiduciaries Targeted in Excessive Fee Suit
The allegations basically mirror those included in the long list of excessive fee suits filed.
Another Lawsuit Scrutinizes Use of Active TDF Suite in 401(k) Plan
Prime Healthcare Services is one of the latest targets of an ERISA 401(k) excessive fee suit.
DOL NPRM Addresses PEP Plan Provider Registrations
The SECURE Act allows pooled plan providers to start operating pooled employer plans beginning on January 1, 2021, but providers must register before operations can begin.
IRS Issues NPRM for Extended Rollover Deadline for Qualified Plan Loan Offsets
A participant has until the due date (with extensions) for filing his federal income tax return for plan loan offset amounts resulting solely from the participant’s termination of...
Interim Final Lifetime Income Illustration Rule Published by DOL
The interim final rule includes assumptions plan administrators must use to calculate estimated lifetime benefit payments to be included on retirement plan participant statements.