Expect the SEC To Get Tougher on Advisers, Advocate for Retirement Savers
The change in agency leadership has driven a clear change in focus and a new sense of urgency to act...
Compliance
Could This Be a DOL ESG Framework That’s Here to Stay?
In addition to the important practical takeaways of the DOL’s proposed rule on ESG investing and proxy voting, sources say...
Walgreen Co. Agrees to Settle Suit Challenging Underperforming TDFs
The challenged target-date funds have already been taken out of the plan, and the defendants have agreed to pay $13.75...
DOL Provides Transitional Relief for Investment Advice Rules
A newly issued Field Assistance Bulletin provides that investment advice fiduciaries now have until January 31, 2022, to comply with the impartial conduct standards in the fiduciary prohibited...
Plan Sponsor Clients Need to Know What Causes a Deemed Distribution
An IRS Issue Snapshot addresses retirement plan participant loan rules that must be followed to avoid having a loan or...
GKN Latest to Face Scrutiny Over GoalMaker Service
Though its GoalMaker portfolio management solution features prominently in the plaintiffs’ allegations, Prudential is not a party in the case.
Taxpayers Association Seeks Supreme Court Review of ERISA Pre-emption Case
The plaintiffs in the case believe California should not be permitted to operate the CalSavers Retirement Savings Program on the...
Settlement in Dignity Health Church Plan Lawsuit Gets Preliminary Approval
Given a third shot, a judge found the parties finally got the settlement terms right.
Cumulus Media Granted Summary Judgment in 401(k) Excessive Fee Suit
A court found a separation agreement signed by the plaintiff when his employment with the company terminated precludes the lawsuit.
Advocacy Continues for Retirement-Related Provisions in Budget Draft, Other Bills
Industry professionals who work with lawmakers in Washington say they remain hopeful that retirement security issues will be addressed in the federal government’s budget for fiscal year 2022.
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties
Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence...
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...
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,...