Academic Paper Lays Out Importance of Reforming Social Security Before Fund Depletion
Delaying reform could trigger fiscal and debt crises in the next decade, according to the Mercatus Center.
Compliance
Retirement Industry Groups Want Northop Grumman’s Forfeitures Case Dismissed
The amicus brief filed by employer and business groups argues that the company’s retirement plan grants administrators discretion in allocating...
Bisignano Adds Trump Account Expansion to SSA, IRS Leadership Roles
Frank Bisignano, the Social Security Administration commissioner and IRS CEO, is tasked with supporting the ‘continued growth’ of the Trump...
Medicare Outpatient, Drug Expenses to Strain US Fiscal Resources, per CRR
In 11 years, the US is slated to pay more for Medicare than Social Security, according to research by the...
AT&T Seeks to Settle Pension Class-Action Lawsuit for $184M
Pending district court approval, the agreement would conclude an ERISA case accusing the company of reducing pension payments.
Bill for CITs in 403(b) Plans Backed by 30 Retirement CEOs
The industry leaders urged the Senate committee to prioritize and approve the legislation, as Congress approaches its August recess and...
DOL, American Benefits Council Back Intel in ERISA Case
Amicus briefs by the Department of Labor and the employer group warned the Supreme Court to not allow lawsuits under...
Delaware Lawmakers Approve Auto-Enrollment for State 457(b) Plan
Fifteen states now have some automatic enrollment of public sector employees, but nearly half of US states prohibit it.
DOL Inspector General Calls for Stronger Oversight of Confidential Information
The investigation into common interest agreements resulted in recommendations for 3 agencies.
Intel Urges SCOTUS to Use ‘Apples-to-Apples’ Benchmark in ERISA Case
The company argues that claims of underperformance should be judged against a meaningful, comparable benchmark.
Philly Approves Auto-IRA Bill, While Alaska Vetoes Similar Measure
More than three-fourths of Philadelphia voters backed city-sponsored individual retirement accounts.
DOL Rule List Focuses on Alts, End of ESG
The US Treasury also posted a rule list that provides SECURE 2.0 guidance including required minimum distributions.
Treasury Releases App for Trump Accounts
The new investment accounts for eligible US children under the age of 18 are allowed to receive donations of publicly...
Consolidated Audit Trail Revamp Backed by SIFMA, Investment Trade Groups
Groups expressed concern over the CAT’s funding and ‘Orwellian’ threats to investors’ privacy.
White House Reviews DOL’s Alternate ESG Rule
Although not yet published, the proposed regulation is expected to bar fiduciaries from weighing climate and social factors.
Parsons Corp. Sued for Alleged $28M Losses in 401(k) Plan
The Virginia lawsuit claims that plan fiduciaries kept a Nuveen fund that consistently trailed the S&P 500 for years.
House Hearing Airs Partisan Rift Over Healthcare Costs
Democrats said that Medicaid and ACA reductions threaten workers while Republicans backed direct contracting as a way to lower employer...
Treasury Shares Investment Options for Trump Accounts
The default will be a State Street exchange-traded fund based on the S&P 500, and four more index funds will...
Trump Names Keith Sonderling as Secretary of Labor Nominee
President Donald Trump nominated Acting Secretary of Labor Keith Sonderling to permanently head the Department of Labor via a social...
UnitedHealth 401(k) Plan Forfeiture Lawsuit to Continue
The insurer and healthcare company, which is accused of fiduciary breaches, lost a motion in federal court to dismiss a...