After Committee Change, SECURE 2.0 Does Not Allow CITs in 403(b)s
The language required to allow CITs in 403(b) plans was dropped in the final bill after inter-committee negotiations.
Compliance
Court Dismisses 403(b) ERISA Claim Against Employer, But Not the Plan’s Adviser
The sponsor, a Texas counseling service, was protected by a safe harbor provision, but the adviser might not be so...
ERISA Lawsuit Filed Against Ventura Foods
The suit alleges Ventura did not monitor high fees and underperformance of the funds in its investment menu.
Implementing SECURE’s Emergency Savings Provisions
Emergency savings options within retirement plans will finally be possible in 2024. But implementing them will require work that might...
SECURE 2.0 Changes Backloading Test for Cash Balance Plans
The retirement reform legislation requires interest credits to be “reasonable” and no higher than 6%.
Biden Signs SECURE 2.0 Into Law
The retirement reform legislation is now officially passed, with widespread industry support.
Advisers, Lobbyists, and Service Providers Respond to SEC Outsourcing Proposal
Some call for the SEC to drop the proposal; others want clarity on which outsourcing duties should be vetted; and...
What Does SECURE 2.0 Mean For 403(b) Plans?
Experts weigh in on how SECURE 2.0 may make 403(b) plans operate more like 401(k)s, including being able to participate...
Swing Pricing Proposal Comment Period Remains Open Until Early February
The proposal has been met with criticism from those in the retirement industry.
BNY Mellon Dismissed, Alight, Colgate-Palmolive Remain in Retirement Theft Lawsuit
A District Court judge dismissed BNY Mellon from an ERISA lawsuit, leaving defendants Alight Solutions and the Colgate-Palmolive employee relations...
How Does One Implement a Student Loan Matching Benefit?
SECURE 2.0 allows sponsors to offer retirement matching contributions for participant student loan payments.
Congress Passes SECURE 2.0, Forwarding Second Major Retirement Reform in Three Years
The passage of sweeping policy to increase retirement saving among Americans now awaits presidential signature.
Xerox Has Preliminary Settlement In Excessive Fee Lawsuit
The $4.1 million settlement is pending court approval.
Variable-Rate Premiums To Be Capped by SECURE 2.0
The variable premiums paid to PBGC would be un-indexed from inflation.
SECURE 2.0 Passes Senate as Industry Overwhelmingly Hopes for House Passage
The bill, which is awaiting House vote, contains the most popular provisions while also giving time for actors to come...
Adviser NFP Absolved in ERISA Case; Molina Healthcare and flexPATH Still Face Charges
The plaintiffs in a suit against plan sponsor Molina Healthcare had sought to include advisory NFP for recommending “untested” TDFs....
Employee Stock Ownership Plans To Get a Boost from Omnibus Package
Provisions found in the Work Act and SECURE 2.0 Act, both parts of the spending package, are intended to promote...
SECURE 2.0 Bill Contains Popular and Widely Anticipated Retirement Reforms
Legislation now needs Congressional approval, along with the budget, and the president’s signature this week.
Senator Braun and Congressman Barr Resolve to Overturn “Woke” ESG Rule
The two legislators introduced a resolution Thursday that would invalidate the DOL’s new rule permitting ESG in retirement plans. It...
SEC Votes to Advance Trading Proposals
The four proposals aim to improve competition and transparency in securities trading.