Social Security Administration Announces Staff Downsizing Plans
The SSA recently set a staffing target of 50,000, down from its current level of approximately 57,000 employees, according to...
Compliance
Treasury Secretary Bessent Announces JR Gibbens as Sovereign Wealth Fund Adviser
Gibbens joins the Treasury from the Office of Strategic Capital, a unit of the Department of Defense that invests in...
Participant Data at Community Colleges, Public Schools Exposed in Breach at TPA
A third-party administrator of 403(b) and 457(b) plans experienced a cyber breach last month, exposing sensitive information of more than...
What DOL Layoffs Could Portend for EBSA’s Future
Probationary employees and the head of the agency’s division of employee ownership were recently terminated amid President Donald Trump’s efforts...
ERISA Advisory Council Status Unclear
The ERISA Advisory Council has not yet set a date for the year’s first meeting, and the DOL has also...
Chavez-DeRemer’s Secretary of Labor Nomination Advances to Full Senate
The Senate Committee on Health, Education, Labor and Pensions cleared President Donald Trump’s nominee to head the Department of Labor,...
Money Market Funds Damaged by ‘Flawed’ SEC Amendments
According to the Investment Company Institute, the most significant changes were made without public input.
Judge Approves DOL’s Appeal to Pause Fiduciary Rule Litigation
The circuit judge granted a 60-day abeyance in two lawsuits against the DOL over its Retirement Security Rule.
CFP Board Releases Technology Standard Guide for CFPs
The guide should assist CFPs in complying with the duty of care standards outlined in the board’s code of ethics...
Call Center Rep Accessed Data of More Than 2,000 Customers at Inspira Financial
The third-party call center representative improperly accessed personal data of retirement plan participants between December 2024 and January 2025.
SEC Announces Unit to Protect Investors From Crypto, AI Scams
The Cyber and Emerging Technologies Unit will be led by Laura D’Allaird, who was co-chief of the predecessor Crypto Assets and Cyber Unit.
Lawsuit Alleges Empower Misused Participant Data for Cross-Selling
Former participants of insurance company Swiss Re’s retirement plan also accused the firm of allowing the plan to pay excessive...
The Pension Specialists Breach Exposes Data of 71,000 Participants
The external system breach exposed participants’ names and Social Security numbers.
District Court Again Backs Biden-Era ESG Rule, but Its Future Remains Unclear
A federal judge in Texas ruled that the 2022 ESG rule does not violate ERISA, reaffirming his initial decision made...
Answering Questions About SECURE 2.0 Catch-Up Provisions
Speakers at the PLANSPONSOR Roadmap livestream discussed the administrative challenges of implementing the Roth and age 60 to 63 catch-up...
Daniel Aronowitz Nominated to Head EBSA
President Donald Trump’s nomination of Aronowitz, an expert on fiduciary liability insurance, was received in the Senate on Tuesday.
DOL Files to Pause Appeal of Fiduciary Rule
Under the previous administration, the Department of Labor had filed notices of appeal in the fall of 2024 in two...
Schlichter Joins 401(k) Forfeiture Suit Fray
The plaintiffs in the case against Charter Communications Inc. allege the telecommunications giant ‘misused’ forfeited plan assets when reducing the...
Unions’ Motion for Restraining Order Against DOL Blocked
A judge blocked an attempt from several union groups and a think tank to prevent the Department of Labor from...
What to Know About Part-Time Employee Eligibility for Retirement Plans
Effective January 1, the SECURE 2.0 Act makes part-time employees who have met service criteria eligible for employer-sponsored retirement plans.