Aon Triumphs in ERISA Suit Over Lowe’s Investments
A judge determined the firm didn’t breach its ERISA fiduciary duties when it encouraged Lowe’s to move more than a...
Compliance
DOL Announces Anticipated ESG Fiduciary Investing Rule
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them...
TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges
A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without...
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers,...
Defendants Win Dismissal of TriHealth ERISA Dispute
The ruling states that the court does not believe hearing oral arguments would be helpful in resolving the parties’ cross...
Court Rebuffs DOL’s ESOP Valuation Case Against Engineering Firm
One commentator who works in the employee stock ownership plan space says the ruling represents “one of the most comprehensive rebukes of DOL arguments” in such a valuation...
PANC 2021: Investigation Lessons Learned From Experience
One tip is that being in a state of audit-readiness is essential for retirement plan advisers and their plan sponsor clients—both for peace of mind and to make...
6th Circuit Ruling Might Increase Withdrawing Employer Risk for Multiemployer Plans
The appellate court has rejected the use of the "Segal Blend" when calculating withdrawal liability.
Summary Judgment Order Favors AT&T in ERISA Dispute
In granting the defense’s motion for summary judgment, the court brings to a close one of the longest-running and most...
415 Limit Applies in Aggregate When 403(b) Participant Sponsors Another Plan
The IRS addresses how to apply the annual additions limitation in an updated Issue Snapshot.
Dismissal Motions Fail in Allstate ERISA Lawsuit
The ruling breaks from other district court orders that have held ERISA plaintiffs lack Article III standing to bring claims...
Prudential Defeats Fiduciary Breach Lawsuit
The underlying complaint was dismissed ‘without prejudice,’ meaning the plaintiff can attempt to replead the claims in a way that...
Northern Trust Accused of Fiduciary Breaches Related to AutoZone 401(k)
The firm has been added as a defendant in a lawsuit that challenges the use of Prudential's GoalMaker asset allocation...
California Educators Convinced to Roll Retirement Plan Money Into Risky Investments
The owner of a 403(b) plan administration firm and another insurance agent have been charged with multiple counts of securities...
New Bill Aims to Solve for the Retirement Plan Coverage Gap
The Portable Retirement and Investment Account Act of 2021 would create accounts for people soon after they are assigned a Social Security number that they could contribute to...
PBGC Publishes Q&As About Multiemployer Plan Financial Assistance Applications
The web page addresses how applications submitted before a final rule is published will be affected by any changes PBGC makes.
L Brands ERISA Lawsuit May Proceed
A judge has determined the fiduciary breach lawsuit filed against the former parent company of Victoria’s Secret and Bath and...
Most Claims Move Forward in Suit Over Aon CITs in 401(k) Plan
A court refused to dismiss most claims against Aon Hewitt Investment Consultants and Centerra Group 401(k) plan fiduciaries.
Complex Ruling Sees Nvidia ERISA Lawsuit Dismissed, For Now
The dismissal order in the case includes several points of success for the plaintiffs, and while the suit has been...
Revenue Sharing Disclosure Failures Result in SEC Action
A recent cease-and-desist order filed by the Securities and Exchange Commission underscores the fact that revenue sharing among financial advisers and ‘parties in interest’ is not necessarily an...