Compliance December 22nd, 2022 SECURE 2.0 Passes Senate as Industry Overwhelmingly Hopes for House Passage The bill, which is awaiting House vote, contains the most popular provisions while also giving time for actors to come...
Compliance December 21st, 2022 Adviser NFP Absolved in ERISA Case; Molina Healthcare and flexPATH Still Face Charges The plaintiffs in a suit against plan sponsor Molina Healthcare had sought to include advisory NFP for recommending “untested” TDFs....
Compliance December 21st, 2022 Employee Stock Ownership Plans To Get a Boost from Omnibus Package Provisions found in the Work Act and SECURE 2.0 Act, both parts of the spending package, are intended to promote...
Compliance December 20th, 2022 SECURE 2.0 Bill Contains Popular and Widely Anticipated Retirement Reforms Legislation now needs Congressional approval, along with the budget, and the president’s signature this week.
Compliance December 16th, 2022 Senator Braun and Congressman Barr Resolve to Overturn “Woke” ESG Rule The two legislators introduced a resolution Thursday that would invalidate the DOL’s new rule permitting ESG in retirement plans. It...
Compliance December 15th, 2022 SEC Votes to Advance Trading Proposals The four proposals aim to improve competition and transparency in securities trading.
Compliance December 15th, 2022 Certified Financial Planner Board Issues Crypto Guidelines The nonprofit warns financial planners that crypto-related assets “can be speculative and volatile.”
Compliance December 14th, 2022 Democrats Suggest SEC Should Reform Scope 3 Climate Disclosure Proposal Scope 3 disclosure requirements are losing support in Congress.
Compliance December 13th, 2022 Participants Regain $1.4 Billon Thanks to EBSA’s Interventions The largest category of plan money recovery was from enforcement actions.
Compliance December 12th, 2022 Expert Consensus: SECURE 2.0 May or May Not Pass Passage of the final bill depends on whether Congress can pass an annual budget.
Compliance December 12th, 2022 New Modifications Released for Forms 5500 and 5500-SF The document changes were the same for administrative penalties, but also contained differences.
Compliance December 9th, 2022 Bipartisan Group Introduces Bill for Portable Federal Retirement Accounts Legislation would establish a new program to give eligible workers access to portable, tax-advantaged accounts.
Compliance December 9th, 2022 LPL Advisers Overwhelmingly Support SECURE 2.0 Even as Timeline for Passage Tightens On the same day Senator Rob Portman, a retirement-legislation leader, gave his farewell speech, a survey from the massive independent...
Compliance December 8th, 2022 District Court Dismisses Two ERISA Lawsuits Challenging BlackRock TDFs A series of lawsuits brought against plan sponsors that use the BlackRock funds as their QDIA received a setback last...
Compliance December 7th, 2022 Congress Nears Passage of RILA Registration Legislation The proposed legislation would greatly simplify the process by which the annuities are registered by providing for tailored registration forms.