The Biden Administration Extends Student Loan Repayment Pause Through May 1
Biden says the extension is meant to acknowledge that millions of borrowers are still coping with the negative financial impacts...
Compliance
Birdthistle Takes Helm at SEC Division of Investment Management
SEC Chair Gary Gensler says he looks forward to working closely with William Birdthistle, an at-times harsh critic of the mutual fund industry, to plan and execute a...
PBGC Approves First Special Financial Assistance Funds
A transportation workers’ multiemployer pension plan will receive funds created by the American Rescue Plan Act of 2021 to pay retirement benefits.
DOL Cautions Small Plan Fiduciaries Against Diving Into Private Equity Investments
The agency issued a supplemental statement in response to stakeholder concerns that private equity investments could be inappropriate for small DC plans.
Plaintiffs Refile ERISA Complaint Against Prudential
The original lawsuit was dismissed in September, but the plaintiffs were given time to file an amended complaint, which they...
Natixis ERISA Lawsuit Clears Early Dismissal
Like the many other ERISA lawsuits filed against large financial service providers, the complaint alleges that the defendants failed to...
GAO Says SEC’s FINRA Oversight Lacks Sufficient Formality
A new report from the Government Accountability Office suggests the SEC’s performance metrics for FINRA do not measure progress in achieving a specific mission or set appropriate targets...
Lawsuit Alleges ERISA Breaches by Fiduciaries of Nokia of America 401(k) Plan
Plan fiduciaries face a breach of duty of prudence claim over allegedly excessive investment and recordkeeping fees.
Voya Faces ERISA Complaint Targeting Its Own Plan
Among other allegations, the plaintiffs claim Voya engaged in an imprudent process while selecting and retaining proprietary target-date funds and a stable value option.
SEC Proposes Rules to Address Potential Runs on Money Market Funds
The suggested amendments to the agency’s current rules address redemption costs and liquidity.
New Bill Would Allow Faster Access to Retirement Accounts After Disasters
The legislation would allow survivors to withdraw $100,000 without fees or penalties.
Delta Air Lines Faces ERISA Actuarial Equivalence Pension Lawsuit
The complaint challenges the use of both allegedly outdated mortality tables and artificially high interest rate assumptions in the conversion of annuity types under multiple pension plans.
Groups Suggest DOL Take Certain Language Out of Proposed ESG Rule
While expressing support for the rule, they say removing specific references to ESG factors will help fiduciaries understand they are...
Retirement Plan Participant Claims Harm From Transamerica Data Breach
In a lawsuit, he alleges the retirement plan service provider did not take steps to protect the personal information of...
Senators and Investment Group Push Back on DOL ESG Proposal
They say the latest proposed regulations ‘dismantle important actions’ taken by the previous administration and politicize retirement savings.