Compliance January 10th, 2025 Court Rules American Airlines Breached Fiduciary Duty in ESG Case A federal district court in Texas found that American Airlines prioritized ESG investment goals ahead of employees’ financial interests, violating...
Compliance January 8th, 2025 Groups Call On Supreme Court to Uphold Cornell University Decision to Stem Frivolous Lawsuits The Supreme Court will hear a case to resolve a split among circuit courts on whether a plaintiff must argue...
Compliance January 6th, 2025 Biden Signs Social Security Fairness Act The law will boost Social Security benefits for nearly 3 million public workers.
Compliance January 3rd, 2025 Amazon Employees File 401(k) Plan Forfeiture Complaint in Federal Court The online retail giant joins more than 30 plan sponsors accused of mismanaging participant forfeitures for its own gain.
Compliance January 2nd, 2025 Verizon, SSGA Face Complaint About $5.9B PRT Transaction Law firm Edward Stone is representing three former employers who allege Prudential and RGA group annuity contracts are not the...
Compliance January 2nd, 2025 IRS Issues Covered Compensation Tables for 2025 Plan Year The tables show plan sponsors how to determine contributions to qualified plans with permitted disparities.
Compliance December 30th, 2024 DOL’s Retirement Savings Lost and Found Database Goes Live The database centralizes information for lost retirement accounts and provides guidance to claim funds.
Compliance December 20th, 2024 DOL’s Khawar, Among Architects of New Retirement Fiduciary Rule, To Step Down The career EBSA official who had been appointed by Biden to principal deputy assistant secretary will be leaving January 20.
Compliance December 20th, 2024 “Shadow SEC” Group Aims to Shape Discussions on Federal Securities Laws A group of academics created the group to seek the “wisest possible federal securities laws and policies,” and backed Trump’s...
Compliance December 19th, 2024 Compliance Year in Review David Kaleda, an ERISA expert, reflects on the year that was for plan fiduciaries.
Compliance December 17th, 2024 Former WAMCO Exec Leech Pleads Not Guilty to Cherry-Picking Allegations Ken Leech is fighting accusations of making favorable trades for some clients at the expense of others.
Compliance December 13th, 2024 UnitedHealth Group Settles 401(k) Fund Complaint for $69 Million If the agreement is approved, participants will receive payments after UnitedHealth did not replace underperforming Wells Fargo funds.
Compliance December 13th, 2024 ERISA Advisory Council Approves 3 New QDIA Recommendations The council is seeking to provide more participant education on retirement income options and a safe harbor for IRA rollovers.
Compliance December 12th, 2024 Preparing for Next Round of SECURE 2.0 Provisions More sweeping provisions will become active in January.
Compliance December 10th, 2024 IRS Reminds Retirees to Take RMDs Before Year-End Those aged 73 and older must take their required minimum distribution from defined contribution plans and IRAs.
Compliance December 6th, 2024 Firefighter Pension Complaint Alleges Insider Trading by United Health Execs, Including Slain CEO The late Brian Thompson and two other executives were accused of dumping stock prior a DOJ antitrust investigation into the...
Compliance December 4th, 2024 Trump Picks SEC Alum to Chair Regulator Paul Atkins, a digital assets advocate, has been designated the nominee to replace the outgoing Gary Gensler.
Compliance November 27th, 2024 11 Republican AGs Sue BlackRock, State Street, Vanguard in ESG Case The 11 states, led by Texas, allege the asset managers have been undercutting coal companies and driving up electricity prices.
Compliance November 26th, 2024 Deadline Nears for Plan Sponsors to Sign Attestations for Access to Health Plan Data Employers are responsible for signing attestations to confirm that their health care service providers are not restricting access to plan...
Compliance November 26th, 2024 Great Gray Presses Senators to Allow 403(b) Plans to Use CITs The CIT trust company and two law firms argue against consumer groups seeking to halt a bill that would let...