Liberty Mutual Employees Sue for Retirement Health Coverage
Former employees of the company who were brought on through the 2008 Safeco acquisition say Liberty Mutual is failing to live up to promises it made to provide...
Compliance
IRS Provides New Model Rollover Notices
The model notices have been updated to reflect changes made by the SECURE Act.
SEC Staff: COVID-19 Creates New Compliance Considerations
Market volatility related to COVID-19 may have heightened the risk of misconduct in various areas that the SEC staff believes merit additional attention from advisers and compliance professionals.
LinkedIn Now on Long List of Plan Sponsors Facing Excessive Fee Lawsuits
Defendants are accused of failing to use the lowest cost share class for many of the funds in the plan and failing to consider CITs and index funds...
$39.5 Million Settlement Agreed to in DC Plan Excessive Fee Suit
McKinsey & Co. and an RIA it owned were accused of ERISA violations that included prohibited transactions.
SEC Fund Report Proposal Seen as Big Step Toward Modernization
One attorney who works on Securities and Exchange Commission compliance issues says the proposal will help retail investors digest key...
4th Circuit Ruling Supports ERISA Stock-Drop Plaintiffs
Since an influential Supreme Court ruling known as Dudenhoeffer, plaintiffs have struggled to defeat dismissal motions in so-call stock-drop lawsuits, but a new panel ruling in the 4th...
Mercy Health Charged With Excessive Fees, Prohibited Transactions
The lawsuit challenges fees for recordkeeping, target-date funds and stable value funds, as well as fees paid to service providers to the health care system's 403(b) plan.
Judge Finds 401(k) Participants Proved No Harm From Lack of Stable Value Fund
A federal judge granted summary judgment to American Airlines in a suit challenging the use of the AA Credit Union Fund in its 401(k).
Media Company Latest to Face Legal Scrutiny Over Fidelity Freedom Funds
The case is yet another example of Employee Retirement Income Security Act (ERISA) litigation to question the use of actively managed default investments.
Court Clears ‘Actuarial Equivalence’ Lawsuit for Discovery
Several interim rulings have been handed down in the case, which asks some key questions about the meaning of the term ‘actuarial equivalence’ in the context of ERISA...
DOL Motives for Fiduciary Rule Questioned in Public Comments
Consumer groups and advocates of the fiduciary adviser industry want the Department of Labor to reconsider aspects of its proposed fiduciary rule.
Musician Union Pension Clashes with U.S. Treasury
Congress is divided on how to address the union pension funding crisis, which is exemplified by the plight faced by the American Federation of Musicians and Employers’ Pension...
Cyberattacks More Prevalent Among Smaller Businesses
The unexpected economic downturn caused by COVID-19, along with the rapid shift to remote work, made those businesses with few...
SEC Proposes Overhaul of Retail Fund Disclosure Framework
The proposed disclosure framework would feature ‘concise and visually engaging shareholder reports,’ according to the federal securities market regulator.