SEC’s AI Proposal Would Negatively Affect Retirement Education Features, Commenters Say
The feedback period for the SEC proposal on artificial intelligence and conflicts of interest closed today, and the feedback has...
Compliance
Colgate-Palmolive Submits Motion for Summary Judgment in Retirement Fraud Lawsuit
Legal Counsel for the Colgate-Palmolive Employee Relations Committee aim to terminate the plan sponsor's participation in a lawsuit alleging the...
Will ESOPs Finally Get Regulatory Clarity?
SECURE 2.0 requires DOL to create rules for ESOP valuation.
Understanding Plan Fees, With Help from NAGDCA
A recently published fee guide can help plan sponsors navigate different recordkeeping, advisory and asset management options.
House Bills Aim to Increase Use, Contribution Amounts For HSAs
Bipartisan legislation looks to address “outdated bureaucratic barriers and red tape” regarding the tax-advantaged health savings accounts.
Temporary Budget Agreement Keeps 2024 Inflation Adjustments on Track
The Social Security COLA and IRS Contribution Limits will continue on schedule after a near miss on government shutdown.
DOL’s Khawar Says ‘Partnership’ Needed to Combat Cyber Risks
The principal deputy assistant secretary for EBSA discusses how plan fiduciaries have been using DOL best practice guidance, and why...
SEC Imposes $79M in Fines on Advisers for Recordkeeping Violations
Ten firms were fined for using unapproved off-channel devices for business related communications.
SEC Proposes New Rules for RILA Annuity Providers
The proposal directs RILA providers to use registration documents that better explain the annuity’s features and complexities.
Inflation Data Will Be Unavailable for 2024 Social Security COLA With Shutdown
The Social Security COLA would not be updated on the scheduled timeline of October 12 during a government shutdown.
Cannabis Industry Employers May Be Allowed to Sponsor Retirement Plans
The SAFER Banking Act addresses several banking and workplace topics for the companies.
SEC Would Suspend Rulemaking, Enforcement During Potential Shutdown
Comment periods would remain open for the AI and safeguarding proposals, but comments would not be reviewed in real time.
Fund Advisers Reject SEC Aiding and Abetting Charges
The adviser for a mutual fund argues against alleged Liquidity Rule violations because the company was not responsible for the...
Social Security COLA Projected at 3.2% Ahead of October Decision
The Social Security Administration will officially announce the adjustment rate on October 12, and it is projected at less than...
10th Circuit’s ‘Meaningful Benchmark’ Ruling Will Not Stymie Lawsuits, Experts Says
Five circuit courts have now heightened the standard for 401(k) participant lawsuits, but ERISA attorneys do not expect lawsuits challenging...
Private Fund Adviser Fined $1.6M for Duty of Care Violations
The infrastructure fund allegedly did not disclose conflicts of interest and took actions without regard for their impact on investors.
Judge Upholds DOL ESG Rule
A Texas judge, appointed during the Trump administration, ruled that the DOL does not violate ERISA by permitting ESG in...
Lawmakers Look to Shield Student Loanees From Garnishment of Social Security Benefits
With student loan payments set to resume, Democrats in Congress proposed a bill last week that would prevent the government...
Funds’ Portfolios Must Reflect Their Name, SEC Says
New rule means funds will have to derive 80% of their value from investments related to their official names.
Scope of AI Conflicts Proposal Finds New Opponents on the Hill
Members of both parties have criticized the SEC’s definition of ‘covered technology’ when it comes to using AI in financial...