Cybersecurity Experts Warn of Increased Fraud Risk to Retirement Plans
Cybercriminals are becoming more sophisticated and patient in their approach due to the massive payouts fraudsters can manage to steal...
Compliance
New Bill Seeks to Encourage 401(k) Investment in Alternative Assets
The Retirement Savings Modernization Act aims to clarify ERISA to incentivize retirement investment in assets such as real estate, private...
Settlement Reached with Couple that Lost Millions in Profit-Sharing Plan
The pair will pay more than $2 million to settle claims they invested assets in companies in which they had...
Class Settlement Approved for AAA Carolinas ERISA Lawsuit
The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
Home Depot Victorious in ERISA Suit
The judge ruled that even though Home Depot may have followed an imprudent process for choosing investments, the plaintiffs were...
Interim Funding Bill Heads to President’s Desk
The House passes a continuing resolution to keep the government open and provide specific funding for aid to Ukraine and...
Wells Fargo Is Targeted in ERISA Lawsuit Alleging Self-Dealing
The Wells Fargo retirement plan fiduciaries are accused of engaging in prohibited transactions and breaching their fiduciary duty to participants.
IRS Extends Plan Amendment Deadlines for CARES Act Provisions
Deadlines have also been extended to amend plans for certain provisions of the Taxpayer Certainty and Disaster Tax Relief Act.
Gomez Confirmed as New Head of EBSA
The full Senate voted, 49-36, to confirm Lisa Gomez as the new assistant secretary of labor for the Employee Benefits...
SEC Charges 16 Firms With Failing to Preserve Electronic Communications
The firms have admitted to the wrongdoing and will pay penalties of more than $1.1 billion.
What Is the DOL’s Plan If the Government Shuts Down?
Like most organs of the federal government, the Labor Department maintains an explicit policy for government shutdowns as a consequence...
Lawsuit For Wake Forest University Retirement Plan Proceeds
The judge has allowed the case to go forward and the ‘plaintiffs should be afforded an opportunity to conduct discovery.’
ERISA Suit Against Exelon Dismissed
The plaintiffs had alleged that their employer maintained expensive and low-performing investment options for plan participants.
New Advisory Group on Preventing Senior Scams to Meet Next Week
The advisory group was established by the Stop Senior Scams Act, passed in March, and is charged with developing strategies...
Parties Reach Preliminary Settlement in 16-Year ERISA Lawsuit
Plaintiffs agree to settle for $267 million in a class action suit that alleged that PricewaterhouseCoopers LLP undercalculated lump-sum payments...
All 3 Defendants Move to Dismiss Cybersecurity ERISA Suit
The defendants are accused of ignoring several red flags, resulting in over $750,000 being stolen from a retirement account.
Maryland’s State-Run Retirement Program Officially Launches
The program will also help employees build emergency savings through an automatic payroll deduction.
SEC Risk Alert Addresses Marketing Rule Compliance Examinations
The SEC’s new marketing rule is set to take effect on November 4, and the agency’s Division of Examinations says...
Judge Rules in Favor of Goldman Sachs in ERISA Suit
A federal judge rules that Goldman Sachs did not privilege its own mutual funds at the expense of retirement plan...
Janus Henderson Sued for Allegedly Favoring Its Own Funds in Its Retirement Plan
Class action lawsuit claims firm loaded its 401(k) plan with high-fee, underperforming proprietary funds.