News
AT&T to Settle Retiree Pension Lawsuit for $184M
If approved by a federal district court in California, the deal would require updates to future pension calculations.
Tag: ERISA
Regulation
Bill Targeting Proxy Advisers Advances From House Committee
The legislation aims to curb required disclosures tied to political, social or environmental priorities unless they affect investment or voting decisions.
Regulation
Federal Guidance: Proxy Advisers, Others May Be ERISA Fiduciaries
The Department of Labor clarified that proxy advisers “regularly fit the definition of functional fiduciaries” and that the actions of managers, sovereign funds and others could also make them advice fiduciaries.
Regulation
Weyerhaeuser PRT Complaint Tossed, Plaintiffs Granted Standing
The case can be amended and refiled in the same district court.
Securities Fraud, ERISA Class Action Settlements Surge in 2025
Tesla, Alphabet and Alibaba paid almost half the money in last year’s 10 largest settlements related to securities and ERISA.
Pension Risk Transfer Lawsuit Against General Electric Dismissed
The company was accused of violating its fiduciary duty by picking Athene for a $1.7 billion PRT in 2020.
Pensions
R.B. Pamplin Corp. to Restore $20.6M in Pension Assets, Unwind Illegal Real Estate Investments
The Department of Labor concluded that Pamplin had used assets from its pension plan to acquire the company’s own real estate, exceeding limits under ERISA.
Pensions
PBGC Updates Rate Tables on Expected Retirement Age, Missing Participants Mortality Assumption
Effective date for the final rule is January 1, 2025.
Pensions
US Defined Contribution Plans Need to Cover More Workers, Says TIAA
The study also suggested that workers should be required to join 401(k)s and other retirement programs.
Pensions
2nd Suit Filed Against AT&T’s 2023 PRT Deal
Selection of insurer Athene is again the focus in litigation over the telecom company's $8.05 billion pension risk transfer.
Pensions
AT&T Sued Over 2023 Pension Annuitization With Athene
Beneficiaries' suit claims telecom company 'turned its back on its retired workers' in risk transfer deal.
Regulation
Suggestions Sought for Retirement Plan Reporting, Disclosure
With a report on improvements due in 2025, the IRS, PBGC and EBSA are accepting feedback during a 90-day comment period.
Regulation
PBGC Updates Mortality Tables for 2024
The tables are used for calculating withdrawal liability and missing participant program transfer amounts.
Regulation
Law Firm Letter Backs DOL Rule on ERISA Fiduciaries Using Climate Factors
Fiduciaries may use climate funds, as long as financial returns receive equal or greater weight to collateral benefits, the Wagner Law Group wrote in an open letter.
Regulation
Insurance Executives Say ERISA PRT Rule Is Enough
Only minor changes to the DOL's PRT regulation, IB 95-1, would be needed to account for changing market conditions, industry leaders say.