Compliance July 1st, 2024 The DOL, the IRS and the Chevron Reversal The Supreme Court’s Chevron reversal creates uncertainty for plan advisers and sponsors.
Compliance July 1st, 2024 FSI, SIFMA Join Insurance Industry Lawsuit Against Retirement Security Rule Brokers and asset managers have also opposed the rule, alongside the life insurance industry.
Compliance June 28th, 2024 Expert Reaction to the IB 95-1 Report Though it lacked conclusions from the DOL, the report and the story behind it reveal where the DOL may further...
Compliance June 27th, 2024 SPARK To Host Workshops On SECURE 2.0 Implementation SPARK Institute and Vangaurd will host the workshops to focus on collaboration between retirement plan recordkeepers and payroll providers on...
Compliance June 27th, 2024 SEC’s ALJ Process Rolled Back by Supreme Court The court ruled that issuing fines administratively violates the Seventh Amendment.
Compliance June 26th, 2024 CFP Board Files Amicus in Support of Retirement Security Rule Brief pushes back on arguments it will be costly to implement and limit advice to retirement savers.
Compliance June 26th, 2024 House Republican Appropriations Proposal Would Cut EBSA and Block Fiduciary Rule The budget bill is unlikely to pass in its current form.
Compliance June 26th, 2024 Judge Dismisses 401(k) Excessive-Fee Lawsuit Against PNC Financial A federal judge in Pennsylvania decided an an expert witness to the plaintiffs was unreliable, leading to a dismissal of the allegations.
Compliance June 25th, 2024 Preparing for the Retirement Security Rule Some provisions are set to come into effect in September.
Compliance June 24th, 2024 DOL’s IB 95-1 Report Calls for Further Review of DB Pension De-Risking The report from the DOL’s EBSA summarized the concerns of some stakeholders, but makes no recommendations of its own.
Compliance June 24th, 2024 Plaintiff Lawyers Can Now Use AI To Identify Potential Plan Issues Tech and legal firm Darrow uses AI as a tool for ERISA lawsuit allegations such as underperforming plans, excessive fees.
Compliance June 21st, 2024 SECURE 2.0 Lost and Found Proposal Faces Industry Headwinds ERIC and SPARK argue that the DOL’s data request goes beyond the intent of the statute and may create participant...
Compliance June 20th, 2024 DOL Files Counter-Brief to Retirement Security Rule Challenge The DOL counters an insurance industry lawsuit by arguing that the new rule is lawful, consistent with case law and...
Compliance June 17th, 2024 Everything You Need to Know About Pro-Rata Rules A review of the IRS and plan rules that can affect how participants can draw down their pre- and post-tax...
Compliance June 14th, 2024 Congress Urges Treasury to Share Unclaimed Bond Data with States There are about $30 billion in unclaimed savings bond assets that could be distributed to Americans.
Compliance June 14th, 2024 DOL Backs Unenforceability of Class Action Waivers The regulator filed an amicus brief with the 6th Circuit in May arguing that class action waivers in plan agreements...
Compliance June 11th, 2024 Should the CPI-E Be Used for Social Security? Using the consumer price index for the elderly for cost-of-living adjustments would likely result in higher Social Security benefits.
Compliance June 10th, 2024 Legislation to Improve Health Billing Transparency Endorsed by ERISA Industry Committee The two acts would require more disclosures from providers to payers.
Compliance June 9th, 2024 AT&T Files Motion to Dismiss Lawsuits Related to Athene Deal The telecommunications firm says allegations of fiduciary breach are misplaced and should sit with its independent fiduciary SSGA.
Compliance June 5th, 2024 SEC’s Private Fund Adviser Rule Struck Down by 5th Circuit Appeals Court The 5th Circuit vacated the rule completely on Wednesday after being challenged by an association of private fund managers and...