Treasury Gets Benefits Reduction Happy
Approvals for multiemployer pension benefits cuts quickens under Mnuchin.
Regulation
Reckless Pension Bosses Could Get Seven Years in Prison
UK introduces new criminal offense of ‘willful or reckless behavior.’
Court Dismisses Exxon Lawsuit over Climate Impact
Complaint alleged oil company’s fiduciaries violated ERISA.
US Treasury Approves Benefits Cuts for Two More Pensions
Mid-Jersey Trucking and Toledo Roofers become 11th and 12th funds cleared for benefits reductions under MPRA.
NJ Gov Vetoes Bill, Says It Could Jeopardize State Pension
Phil Murphy rejects proposed legislation as too broad and challenging to implement.
Connecticut’s New Treasurer Pushes for Pension Shortfall Remedies
Shawn Wooden examines tapping lottery and extending bond payments to bridge huge gap.
American Century Wins 401(k) Class Action Lawsuit
Judge rules that offering employees only proprietary funds does not violate ERISA.
Court Rules Firms Can’t Skirt Pension Withdrawal Fee
Construction company owes more than $641,000 for leaving multiemployer plan.
Bolsonaro Really Wants Pension Reform in 2019
Brazil’s new president’s opening session letter demands social security system overhaul.
Court Orders $1 Billion Judgment Against Woodbridge Ponzi Operators
Former CEO Robert Shapiro must pay $100 million civil penalty.
Rhode Island Retirement to Lead Class Action Lawsuit against Google
Google’s failure to disclose security breaches ‘necessitate legal remedy,’ pension says.
NY Pension Sues Danske Bank over Money Laundering Scandal
Class action lawsuit claims bank artificially inflated ADR price.
A Bipartisan Plan to Revamp Oregon’s Pension System
Dem backing a Republican bill improves its chances in a blue legislature.
Duke Pays More than $10 Million to Settle Retirement Plan Lawsuits
The university allegedly violated ERISA with poor investments and unreasonable expenses.
Hackers Exploit SEC Test Filing Services to Trade Illegally
The SEC charges nine for trading on non-public information.