Compliance October 12th, 2022 Motion to Dismiss Filed in ERISA Lawsuit Management and information consulting firm Booz Allen Hamilton has asked the court to dismiss the claims against it.
Compliance October 10th, 2022 ERISA Suit Brought Against Quanta Services 401(k) participants brought the suit, alleging that Quanta kept certain underperforming funds in its plan menu.
Compliance October 10th, 2022 IRS Issues Update on Required Minimum Distribution Rule The guidance clarifies that people who did not take RMDs in 2021 and 2022 will not be responsible for the...
Compliance October 7th, 2022 Proposed Legislation Would Ban Mandatory Arbitration and Discretionary Clauses The Mental Health Matters Act would, among other things, ban forced arbitration clauses, class action waivers, discretionary clauses, and representation...
Compliance October 7th, 2022 Insurer the Target of ERISA Lawsuit An ERISA lawsuit against Mutual of America has alleged that 401(k) plan fiduciaries breached their duties to participants.
Compliance October 7th, 2022 ERISA Lawsuit Against Associated Bank Dismissed A Wisconsin District Court judge was unconvinced by arguments made by the plaintiffs that plan fiduciaries breached their duty to...
Compliance October 6th, 2022 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 October 5th, 2022 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...
Compliance October 4th, 2022 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...
Compliance October 4th, 2022 Class Settlement Approved for AAA Carolinas ERISA Lawsuit The lawsuit alleged fiduciary breaches to retirement plan participants from high fees and underperforming investments.
Compliance October 3rd, 2022 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...
Compliance September 30th, 2022 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...
Compliance September 29th, 2022 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.
Compliance September 29th, 2022 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.
Compliance September 29th, 2022 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...