House Appropriations Bill Seeks DOL, EBSA Budget Cuts
The subcommittee's fiscal year 2026 spending bill would trim the Department of Labor's budget by 28% and the Employee Benefits...
Compliance
SEC Fines Vanguard and Empower More Than $25M for Adviser Compensation Disclosure Failures
The two companies allegedly provided misleading statements and failed to disclose conflicts to retail and retirement plan investors, according to...
Maximizing HSAs: What the OBBB Act Has Changed
Cat Torres, from Sentinel Group, discusses how recent developments have introduced new opportunities for HSA eligibility.
DOL to Stop Issuing, Accepting Paper Checks
Starting on September 30, the Department of Labor will transition to paperless checks, according to a notice published in the...
Federal Judge Dismisses Home Depot’s ERISA Lawsuit
A district court judge in Georgia ruled that Home Depot’s use of forfeited funds aligned with the retirement plan’s terms.
Knight-Swift Settles ERISA Cases, RTX Faces Plan Forfeiture Charges
Motor carrier holding company Knight-Swift is settling two ERISA complaints while RTX Corporation faces charges of breaching fiduciary duties.
House Bill Would Let Retired Vets Contribute to Thrift Savings Plans
The proposed FORWARD Act would allow certain military retirees and disabled veterans to continue contributing to their Thrift Savings Plan...
GOP Senators Ask for Safe Harbor for Alternative Investments in DC Plans
The senators wrote Labor Secretary Lori Chavez-DeRemer that plan fiduciaries need ‘critical safe harbor protections’ from ‘frivolous lawsuits.’
$1.6M Settlement Reached in Jack Henry & Associates ERISA Class Action
The complaint alleged the technology provider charged excessive fees and mismanaged an investment fund.
ERISA Class Action Against Novo Nordisk Partially Dismissed
Although claims about misuse of plan forfeitures were dismissed, allegations alleging fiduciary breaches by the Novo Nordisk retirement committee related...
Plaintiffs Appeal 401(k) Forfeiture Case Against Honeywell
A day after a federal district court dismissed a 401(k)-plan forfeiture complaint suit against plan sponsor Honeywell International, plaintiffs appealed...
Treasury Department, IRS Asked to Push Back Secure 2.0 Plan for Roth Catch-Ups
A provision of the SECURE 2.0 Act of 2022 that affects government plans has been delayed from taking effect since...
2nd Circuit Reopens Prohibited Transaction Claim Against Northeast Grocery
The appellate court reversed part of a district court’s dismissal, allowing part of the complaint to proceed in light of...
Labcorp Wins ERISA Bench Trial, NextEra to Face Class Action
Two federal courts reached different decisions in separate complaints that accused large employers of mismanaging employee retirement plans.
Empower Accused of Pushing Excessive Costs, Underperforming Investments
The complaint alleges that Empower Advisory Group and its affiliates misled retirement plan participants into transferring savings into high-fee investment...
DOL Wants to Pause Fiduciary Rule Case Through October
The Department of Labor asked for an extension through October to consider its options in a federal case challenging the...
Will DOL Issue Safe Harbor Guidance for Alternative Investments?
The Department of Labor swiftly rescinded a 2021 letter questioning private investments in 401(k) plans, but DOL officials have not...
Consultant Needed for WA Saves
Washington Saves, the state's retirement savings program, needs a consultant with technical and administrative expertise for program development, compliance, procurement...
District Court Denies Bank of America’s Motion to Dismiss 401(k) Forfeitures Case
U.S. District Judge Max Cogburn Jr. rejected Bank of America’s argument that its decisions were made in a “settlor capacity”...
What Can the SEC Do With AI?
The Securities and Exchange Commission’s AI task force could provide the agency a ‘technology augmentation,’ according to a former SEC...