What Does SECURE 2.0 Mean for Pension Plans? Dead Trees and Migraines.
Though SECURE 2.0 primarily focuses on defined contribution plans, it also contains changes relevant for traditional pension plans.
Regulation
Kentucky Treasurer Targets 11 Firms for ‘Energy Company Boycotts’
BlackRock, Citigroup and JPMorgan Chase have all been threatened with state divestment due to alleged fossil-fuel bias.
SECURE 2.0 Caps Variable-Rate Premiums
The variable premiums paid to PBGC would be un-indexed from inflation.
SEC Proposes Four New Rules, Adopts One
The new rules would change the way securities are traded and the enforcement of insider trading.
EBSA Recovers $1.4 Billion for Plan Participants
The amount is less than half of what it was 2020, when it started to decline.
Regulator Calls on UK Trustees to Prepare for Next Bond Market Meltdown
The Pensions Regulator wants LDI-driven plans to be ready if yields suddenly jump like they did in September.
Goldman Sachs Agrees to Pay $4 Million to SEC for ESG Violations
The investment bank agreed to the penalty and a cease-and-desist order without admitting fault for allegedly violating their ESG research policies.
Federal Reserve Proposes Climate Risk Framework for Large Financial Institutions
The framework is essentially the same as those proposed by the OCC and FDIC and calls on large financial institutions to account for climate-related physical and transitional risks in its business strategy.
Congressional Republicans Take Aim at SEC Climate Disclosure
Three bills have been proposed since late September which seek to limit or prevent the SEC’s ability to require climate change-related disclosure.
Mid-Terms Could Lead to More Regulation than Legislation
Republicans winning control of the House could force the Biden Administration to rely even more on regulations.
Dell Agrees to $1 Billion Class Action Payout
Settlement could become one of the Top 20 all-time shareholder-related settlements.
Ohio Teamsters Local Union Receives PBGC Assistance.
The PBGC provided about $85 million to the union pension fund that was bordering on insolvency.
Final DOL Rule Permits ESG in ERISA Plans
The DOL published a final rule that makes it easier for sponsors to take ESG factors into account in investments and shareholder activism, reversing a Trump-era rule.
DOL’s Releases Final ESG Rule for ERISA Plans
Plan sponsors can consider climate and other ESG factors when selecting investments and voting proxies.