SEC Charges Transfer Agent Equiniti Trust for Failing to Safeguard Clients From Cyber Attacks
The ruling shows the increased need to protect client data, as recordkeepers and others could face such fines due to...
Compliance
Federal Judge in Texas Puts Nationwide Block on FTC’s Noncompete Rule
The ban goes from preliminary to permanent in the latest ruling, but the FTC will likely appeal to the 5th Circuit.
Nordstrom Suit, HP Revival Add to 401(k) Forfeiture Cases
A Wagner Law Group attorney says plan sponsors should review their plan documents, as Nordstrom is the latest employer challenged...
Interim IRS Guidance Published on Student Loan Matching Payments
The program, created in SECURE 2.0, addresses student loans, which are considered a significant impediment to retirement savings.
Judge Grants Class Status in Genworth, BlackRock TDF Suit
The plaintiffs invested in BlackRock’s LifePath Index Funds get a rare win when compared to similar 401(k) complaint proceedings.
IRS Launches Public-Private Committee to Guard Against Tax Scams
About 60 private sector companies and groups join the IRS to combat a rise in tax scams ahead of next...
SEC Fines 26 Firms for Off-Channel Client Comms Violations
The regulator continues a push to crack down on the tracking and use of ‘off-channel’ client communication, such as texting.
Missouri Court Strikes Down Anti-ESG Rules
A district court judge put a permanent injunction on rules that required advisers to disclose any time they made decisions...
A Compliant Process for Plan-to-IRA Rollovers
Fred Reish and Joan Neri detail how RIAs can comply with current rules while the new DOL fiduciary rule remains...
401(k) Forfeiture Lawsuits Seeing Their Day in Court
A new complaint is filed and others are moved ahead involving Bank of America, Intuit and Qualcomm.
Near Retirees Being Targeted by Imposter Social Security Administrators
‘Long cons’ are becoming more frequent as scammers go after retirement savings, according to a warning from the Office of...
DOL to Launch Revamped Federal Benefits Website
The department is ‘centralizing’ government benefits such as Social Security and disaster relief at USA.gov.
Judge Dismisses 401(k) Excessive Fee Allegations Against Tyson Foods
Judge rules for Tyson in employee lawsuit alleging the company overcharged participants for bundled recordkeeper fees and failing to solicit...
Lawsuit Alleges TIAA, Morningstar, Pushed Participants Into Proprietary Annuities
A proposed class action complaint filed by law firm Schlichter Bogard claims TIAA’s strategy steered participants to its own retirement...
11th Circuit Appeals Court Rules With Home Depot on 401(k) Fee Suit
The court agreed with the district court decision that workers' "damages claims fail."
Senate Committee Passes Bill That Would Boost EBSA Funding
The bill differs from a recent House Appropriations Committee proposed budget that would cut funding for the Employee Benefits Security...
Bill to Allow CITs in 403(b) Plans Introduced in Senate
The introduction of the bill comes after a similar proposal was passed by the House of Representatives on March 8.
Major 401(k) Litigators Are ‘Back in Action,’ With More Entering the Fray
After a lull in filings last year, 2024 is seeing an uptick, including from law firms not previously active in...
Top Advisers: Diligence About 401(k) Plan Litigation as Crucial as Ever
Plan advisers share their expertise on what types of plans are most at risk for 401(k) litigation and how they...
Are District Court Rulings the ‘Final End’ For DOL’s Fiduciary Rule?
Two federal courts in Texas halted the DOL’s new fiduciary rule. An appeal is likely, but ERISA experts say Congress...