ERIC Highlights Key Areas of Confusion on SECURE 2.0
Roth catch-ups, Roth matches and student loan matches are all high on plan sponsors’ agenda.
Compliance
SEC Cyber Proposals Receive Mixed Feedback From Industry
Many comments offered tepid support for the SEC’s goal and asked for greater flexibility in reporting and rule harmonization.
State Auto-IRAs Set for Vermont, Nevada, As Pennsylvania Awaits Vote
More states are set to offer state-facilitated retirement plans as the AARP calls for the Pennsylvania state legislature to vote...
Debt Ceiling Suspended Until 2025
President Joe Biden's Saturday signature avoided a June 5 default by the U.S. government.
Pilot Sues American Airlines Due to ESG 401(k) Investing Strategy
The retirement committee, recordkeeper Fidelity Investments and financial advice provider Edelman Financial Engines were accused of sacrificing fiduciary duty to...
Senate Passes Debt Ceiling Bill to Avoid U.S. Default
The bill now moves to President Biden for signature ahead of the June 5 default date.
Senate HELP Committee Urges DOL to Prioritize Certain Secure 2.0 Provisions
The recommended focus areas include emergency savings and defined benefit annual funding notices.
IRS Provides Interim Guidance for EPCRS Changes
SECURE 2.0 laid out changes to IRS correction programs, but the May guidance clarifies how they will operate until the...
Senate Mulling Debt Ceiling Bill After House Passage
The House bill, passed Wednesday, would suspend the debt ceiling until 2025.
Democrats Trade Budget Cuts for Debt Ceiling Extension
The House is scheduled to vote on the proposal Wednesday before passing it to the Senate.
FINRA Fines Vanguard for Overstating Money Market Projections
A ‘technical’ issue led to overstated projections of yield and income for nine money market funds for about 8.5 million...
Gensler Defends Swing Pricing Proposal at ICI Conference
Managers who asked the Fed for help during the pandemic but who oppose swing pricing should “look in the mirror,”...
Court Dismisses O’Reilly Auto Excessive Fee Lawsuit
A district court judge dismissed a case brought by six former employees claiming the auto parts company allowed 401(k) participants to...
CITs: Coming Soon to 403(b) Plans?
A bill approved by the House Committee on Financial Services would permit CITs in all 403(b) plans to bring parity...
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
The errors include the startup credit, RMD, SIMPLE IRA plans and Roth catch-ups.
Retirement Clearinghouse Issues Alert of IRA Data Breach
Firm alerts more than 10,000 people to watch out for identify theft after Social Security and IRA numbers may have...
EBRI Study: Inflation, Weak Stock Market Slashed Retirement Confidence
EBRI reports sharply decreased retirement confidence, driven primarily by inflation.
SEC’s Gensler Confirms AI is Regulatory Priority
Chairman Gary Gensler said at a conference that he has directed the SEC to explore the regulatory implications of AI...
SEC’s New Stock Buyback Rules Come Under Legal Challenge
The Chamber of Commerce has sued the SEC in the 5th Circuit and seeks a review of a new SEC...
Inflation Drives IRS to Raise HSA Contribution Limits
For 2024, the HSA contribution will be $4,150 for an individual and $8,300 for a family, up from $3,850 for...