Regulation
Changes to Pension Risk Transfer Rules Might Be Coming
The ERISA Advisory Council met this week to discuss possible changes to IB 95-1, which outlines how fiduciaries should select an annuity provider.
Tag: ERISA
Regulation
PBGC Adjusts Quarterly, Monthly Interest Rates
Interest rates for late payment liability, ERISA 4044 annuity discount rates and variable rate premiums have been adjusted, the PBGC announced.
Newsmakers
Court Refuses to Dismiss Central States Pension Lawsuit
District of Northern Illinois judge finds employer liable for withdrawing from pension obligations during collective bargaining agreement transition.
Regulation
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.
Manager Selection
Summary Judgement Favors Goldman Sachs in ERISA Lawsuit
A federal judge rules that Goldman Sachs did not violate ERISA by offering proprietary mutual funds as options for its retirement plans.
Newsmakers
Janus Henderson Sued for Allegedly Favoring Its Own Funds in 401(k) Plan
Class action lawsuit claims firm loaded its retirement plan with high-fee, underperforming proprietary funds.
Newsmakers
Bill Seeks to Protect Retirement Savings From ‘Woke CEOs’
The proposed Securing Employee Retirement Returns Act aims to codify Trump-era anti-ESG rules.
Regulation
Baltimore Firm Ordered to Restore Missing 401(k) Funds
Following a Labor Department probe, Bicallis LLC must pay more than $150,000 to its retirement plan and has been replaced as fiduciary.
Regulation
Bill Would Silence Labor Department on 401(k) Investment Guidance
The Financial Freedom Act’s sponsor says the federal government should not involve itself in investment choices for retirement plans.
Regulation
Labor Dept. Warns Fiduciaries About Offering Crypto in DC Plans
The Employee Benefits Security Administration said 401(k) fiduciaries should use ‘extreme care’ before adding crypto options to a plan.
Manager Selection
CIO of New Jersey Police and Fire Pension Resigns
The resignation follows an ethics probe into his behavior at a previous pension fund.
Newsmakers
Understanding PRT: Key Steps Leading to Successful PRT
As firms move on from the first step of cleaning up their data, they must next think about the financial and accounting implications that come with pension risk transfer.
Newsmakers
Milliman Faces ERISA Lawsuit Over Alleged Breach of Fiduciary Duty
The plaintiffs claim the firm’s 401(k) lost as much as $85 million due to imprudent investment decisions.
Regulation
Supreme Court Declines to Hear Delphi Pension Termination Case
The lack of action by the high court ends more than 12 years of litigation after the General Motors unit’s pension plan was terminated.
Newsmakers
DOL Restores More Than $2.4 Billion to Plans, Plan Participants
Investigations led to over 16,000 defined benefit plan participants collecting more than $1.5 billion in owed benefits in fiscal 2021.