Industry Groups Push to Dismiss PRT Lawsuit Against Bristol-Myers Squibb
In an amicus brief, several advocacy groups warned that letting the lawsuit proceed past a motion to dismiss could open...
Compliance
Education and Workforce Committee Renews Call to Probe EBSA for Alleged ‘Power Abuse’
The committee has once again urged the Department of Labor’s Office of Inspector General to investigate claims that the Employee...
What Is a Proper Cybersecurity Policy for a Retirement Plan?
Plan fiduciaries should consider third-party audits, multi-factor authentication, cyber insurance and more when developing a written cybersecurity policy.
JPMorgan Faces 401(k) Forfeiture Lawsuit
The banking giant is the latest company to face litigation over its use of forfeited 401(k) assets.
Proposed ESOP Rules Scrapped Following Trump’s Regulatory Freeze
A presidential executive order issued Monday led to the withdrawal of rules that had not yet been published in the...
Supreme Court Hears Cornell Pleading Standards Case in Oral Arguments
The court examined conflicting lower court rulings to decide if plaintiffs must demonstrate more than just the occurrence of a...
2025 Retirement Outlook: Tax Changes, Cryptocurrency Trends and Litigation Reforms
According to experts at T. Rowe Price, plan sponsors should anticipate policy updates and possible litigation reforms in 2025.
ERISA Group’s Lawsuit Seeks to Upend Final Federal Mental Health Parity Rules
ERIC argues the final rule goes beyond the authority federal officials have under the mental health parity law’s authority.
SEC Fines Vanguard for Misleading Retail Target-Date Fund Investors
The regulator determined that the firm failed to provide accurate details regarding the capital gains and tax consequences associated with...
DOL Proposes Rule to Clarify ‘Adequate Consideration’ for ESOP Transactions
The regulation aims to strengthen protections for employees in stock ownership plans
Bechtel Managed Account QDIA Lawsuit Dismissed
The complaint accused the engineering and construction firm of defaulting participants into a high-fee option that provided no benefits compared...
IRS Offers Assistance to Those Affected by California Wildfires
The relief measures include extended deadlines for 2024 retirement contributions and penalty-free hardship withdrawals for those affected.
SEC Fines 12 Firms $63M for Failing to Maintain Proper Electronic Records
The SEC has charged nine investment advisers and three broker/dealers for violations of federal recordkeeping laws.
IRS, Treasury Release Proposed Regulations on SECURE 2.0 Provisions
The agencies issued guidance on how plan administrators can comply with the Roth catch-up rule that begins in 2026 and,...
401(k) Excessive Fee Litigation Spiked to ‘Near Record Pace’ in ’24
Encore Fiduciary reported a 35% increase in ERISA excessive fee litigation, in part driven by a surge in plan forfeiture...
Court Rules American Airlines Breached Fiduciary Duty in ESG Case
A federal district court in Texas found that American Airlines prioritized ESG investment goals ahead of employees’ financial interests, violating...
Groups Call On Supreme Court to Uphold Cornell University Decision to Stem Frivolous Lawsuits
The Supreme Court will hear a case to resolve a split among circuit courts on whether a plaintiff must argue...
Biden Signs Social Security Fairness Act
The law will boost Social Security benefits for nearly 3 million public workers.
Amazon Employees File 401(k) Plan Forfeiture Complaint in Federal Court
The online retail giant joins more than 30 plan sponsors accused of mismanaging participant forfeitures for its own gain.
Verizon, SSGA Face Complaint About $5.9B PRT Transaction
Law firm Edward Stone is representing three former employers who allege Prudential and RGA group annuity contracts are not the...