EBSA Head Says Disclosure, SECURE 2.0, ESG Are Key Priorities
EBSA’s Lisa Gomez identified upcoming regulatory priorities related to SECURE 2.0 and the importance of effective disclosure at a conference...
Compliance
IRS Proposes Rules That Require Retirement Forfeitures Be Used in 12 Months
A new IRS proposal formalizes guidelines on how plan administrators should manage and use retirement plan forfeitures.
IRI to Push for Annuities as Default Retirement Investment Option in ‘23
The retirement insurance industry group is calling for legislation that would do away with a liquidity feature that limits certain...
DOL Updates Form 5500 for 2023
This year’s changes include reporting modifications for PEPs and small plans.
Embattled DOL ESG Rule Receives Democratic Congressional Support
A DOL rule permitting ESG considerations in retirement plan investing has been challenged by two separate lawsuits. House Democrats are...
Legal Complaint Says DOL’s ESG Rule “Jeopardizes” Retirement Savers
A second lawsuit in less than a month has been brought challenging the legality of the DOL’s rule concerning ESG...
Expert: Advisers Should Pause on DOL Rollover Guidance Despite Court Reversal
In the meantime, legal experts discourage advisers from violating it in case it is re-instated.
Social Security Expansion Act Would Guarantee Solvency for 75 Years
The Democrat-sponsored bill has been referred to the Republican-controlled House Committee on Ways and Means.
Senator Pushes For Crypto Option in 401(k) Plans
Republican Senator Tommy Tuberville reintroduced a bill pushing back on DOL guidance that limits 401(k) providers offering crypto in plans.
SEC Adopts Settlement Cycle Rule, Proposes New Custodial Rule
The rules, adopted and proposed, respectively, by 3-2 margins, were partially informed by recent scandals.
SEC Wants Enhanced Protections on Crypto, Other Adviser-Managed Investments
The proposed changes would amend a custodial rule requiring cryptocurrency exchanges to be run by qualified custodians.
Retirement Industry Pushes Back on SEC Swing Pricing Proposal
Industry groups filed arguments saying the proposal, intended to put greater burden on “first mover” traders of open-ended funds, would...
Federal Judge Nixes DOL Rollover Guidance Interpretation
A U.S. District Court judge ruled that Department of Labor guidance violated the Administrative Procedure Act.
DOL: More Time to Comment on Fiduciary Correction Program
The Department of Labor has extended the public comment period for a program that would allow fiduciaries to self-correct for...
Will RMD Age Increases Cause ‘Abandoned’ Property Problems?
SECURE 2.0 increased the RMD age to 73 and will increase it again to 75 in 2033. Some states’ laws...
Microsoft Escapes Retirement Plan TDF Suit
One of a string of lawsuits filed against companies that put retirement savers into a BlackRock TDF suite was dismissed...
Biden “Won’t Let” Republicans Cut Social Security
In the State of the Union address, Biden commits to protecting Social Security and Medicare from cuts to address the...
Trade Groups Push Back on SEC Recordkeeping ‘Sweep’
Investment associations say in a letter that the SEC is exceeding its authority by asking to access all off-channel business...
DOL Secretary Walsh Reportedly Leading Candidate to Helm NHL Players’ Association
The approval of Walsh to head the NHLPA is considered a “formality.”
Federal Magistrate Judge Recommends Dismissal of ERISA Case Against Dish Network
The plaintiffs have 14 days to resubmit and restate their claim in the excessive-fee case.