Bill Would Create Pension Rehabilitation Trust Fund
It would be used to make loans to multiemployer DB plans.
Compliance
401(k) Excessive Fee, Self-Dealing Suit Filed Against Wells Fargo
The suit questions the use of actively managed versus passively managed funds. It also suggests that collective trusts and separate accounts are better vehicles than mutual funds for...
2017 a Light Year for Required Plan Amendments
Experts remind retirement plan sponsors of deadlines for 2017 year-end, and also offer some tips.
PBGC Wants to Keep Requiring Disclosures for Distressed DB Plan Terminations
The agency has requested that the OMB continue to allow it to do so.
Regulators Release Informational Copies of 2017 Form 5500
The new forms include important modifications.
DOL Issues ERISA Guidance for Plans Impacted by Hurricane Maria, Wildfires
The guidance covers verification procedures, timely loan and hardship withdrawal repayments, and health care coverage.
New Complaint Alleges Excessive Fees in NYU Plans
This case was filed against NYU Langone Hospitals, NYU Langone Health Systems, the retirement plan committee, and several named defendants.
First Bankers Trust Settles Three ERISA Suits
The lawsuits alleged that First Bankers Trust violated the Employee Retirement Income Security Act when it approved stock purchases by three employee stock ownership plans.
PBGC Deficit Report Shows Dire Situation for Multiemployer Plans
The latest deficit increase was driven primarily by the ongoing financial decline of several large multiemployer plans that are expected to run out of money in the next...
Will Open MEPs Soon Have Their Day?
The executive director of the Aspen Institute Financial Security Program, reflecting on a recent summit of government and industry leaders, suggests the stars may finally be coming into...
Democrats Outline Their Vision for Protecting Union Pensions
House and Senate Democrats say their “Better Deal” proposal offers an alternative vision to the GOP’s economic agenda, with a focus on protecting union pensions and access to...
SIFMA Files Brief in Support of Fidelity in Stable Value Suit
SIFMA says it has a strong interest in clarifying the fiduciary obligations of investment managers in selecting and managing investment options in retirement plans governed by ERISA.
GOP Backs Away From Limits on Deferred Compensation
Among other amendments that have already emerged in both the House and the Senate tax proposals, it seems nonqualified deferred compensation plans will more or less be left...
IRS Releases Covered Compensation Tables
The tables are to be used for determining contributions to DB plans and permitted disparity in DC plan contributions.
Nordstrom Charged With Allowing Excessive Fees in 401(k) Plan
The lawsuit also says plan fiduciaries failed to use lower cost investment vehicles and made inadequate disclosures to participants about fees.
Court Says Change to More Volatile Crediting Rate Not Against Top Hat Plan Terms
The plaintiffs challenge three features of the 2012 amendment: the change to the crediting rate; the introduction of potential for risk and volatility into the plan; and variations...
Franklin Templeton Targeted in Self-Dealing Fiduciary Breach Lawsuit
The self-dealing lawsuit filed against Franklin Templeton levels similar claims to other class-action challenges filed by employees of well-known financial services providers.
The SEC Has Formed a Fixed Income Market Structure Advisory Committee Comprised of Outside Experts
It will provide new ideas about how to enhance to the Commission regarding efficiency and resiliency of these evolving markets.
Senate Tax Reform Proposal Also Hits Deferred Compensation
Analysts warn it’s too soon to tell what middle ground, if any, may be reached between the House and Senate; for now 401(k) retirement plan deferrals appear to...
District Court Grants Thrivent Injunction in Fiduciary Lawsuit Targeting DOL
A decision out of a federal district court in Minnesota represents something of a mixed bag for both the plaintiff, Thrivent Financial for Lutherans, and for Department of...