PBGC Issues Interim Final Rule on Multiemployer Bailout Plan
The agency’s proposal sets a priority system for distributing $94 billion to severely underfunded pension plans.
Regulation
SEC, DOJ Charge Hedge Fund Trader in Alleged Front-Running Scheme
Sean Wygovsky is accused of taking in $3.6 million from insider trading at a Canadian asset management firm.
Supreme Court to Hear ERISA Excessive Fee Case
The lawsuit seeks to define what ‘care, skill, prudence, and diligence’ really mean for fiduciaries.
British Steel Pension Adviser Barred for 13 Years
Darren Reynolds advised nearly 300 clients to transfer out of their pensions and into high-risk investments.
New Jersey Ups Pension Contribution 44% Due to Tax Receipt Surge, US Aid
The Garden State’s program has been one of the nation’s most underfunded.
DOJ Lawsuit Could Hurt Aon-Willis Towers Watson’s Chances in Europe
Legal action could influence whether the European Commission approves the $30 billion acquisition.
Sustainable Investment Legislation Re-Introduced in Congress
Dual bills would require fiduciaries to consider ESG factors in investment decision-making.
NY Bill Would Divest Teachers’ Pension from Fossil Fuels
A report says the state teachers’ fund has more than $300 million in coal investments.
Bill Seeks to Provide Plan Sponsors with Legal Cover for ESG Investing
Legislators say employers are hesitant to provide ESG options in 401(k)s over fears of being sued.
Senators Reintroduce Retirement Security & Savings Act
The bill seeks to allow people who have saved too little to set aside more for retirement.
Senators Introduce Bipartisan Bill to Increase Retirement Plan Participation
The Improving Access to Retirement Savings Act is intended to open MEPs to 403(b) plans and more small businesses.
SEC Settles Charges with Firm Over Failing to Report Hacking Attempts
GWFS Equities allegedly neglected to report three years of suspicious activities by ‘bad actors.’
Securing a Strong Retirement Act Passes Ways and Means Committee
Among other measures, the bill would expand automatic enrollment for 401(k) and 403(b) plans.
Target-Date Funds Have a Target on Them
Congressional leaders are calling on the GAO to investigate risks and expense concerns with the popular funds.
SECURE Act Could Help Provide Retirement Income in 401(k) Plans
Report says retirement income will become the standard in defined contribution plans.