Compliance

The retirement plan-focused provisions passed by the Senate last night are among many meant to ease the financial pressures posed by the coronavirus pandemic.

The court concluded that "the amended complaint appears to reflect plaintiffs’ own opinions on ERISA and the investment strategy they believe is appropriate for people without specialized knowledge...

However, excess deferrals made by participants in 2019 must still be paid to participants by April 15.

Even as they await federal action, retirement plan recordkeepers have put plans in place to help workers and retirees make the best financial decisions during this challenging time.

Recordkeepers expect the volume of loans, hardships and withdrawals will increase in coming weeks and months.

Citing previous court decisions, a judge said dismissal is not proper at this early stage and the plaintiffs lack the information to detail their claims until discovery proceeds.

Among other things, the lawsuit accuses defendants of selecting funds that that had no performance history that could form the basis of a fiduciary’s objective decision-making process.

While in-person participation is an important part of the financial system regulated by the SEC, the virus is forcing market makers to significantly adjust their operations.

Plaintiffs say the choice of underlying investments in funds using BOK’s CIT structure, as well as the use of BOK’s proprietary money market fund, were to benefit the...

As the SEC’s June 30 Regulation Best Interest deadline nears without hope of a grace period, sources say many financial services firms aren’t ready to comply.

More than a decade of litigation ends in a $29 million settlement agreement.

The bill introduced to Congress is designed to ensure public sector and nonprofit retirement plans have the same access to low-cost investments as for-profit retirement plans do.

Like so many other large U.S. employers, Salesforce is accused of failing to take advantage of the lowest cost share class available for many of the mutual funds...

The new rule permits variable annuity and variable life insurance contracts to use a summary prospectus to provide disclosures to investors.

A federal judge dismissed the lawsuit and decided that granting the plaintiffs leave to amend would be futile.