Regulation
Ohio Teamsters Local Union Receives PBGC Assistance.
The PBGC provided about $85 million to the union pension fund that was bordering on insolvency.
Tag: United States Department of Labor (DOL)
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.
Newsmakers
DOL’s Releases Final ESG Rule for ERISA Plans
Plan sponsors can consider climate and other ESG factors when selecting investments and voting proxies.
Newsmakers
Public Hearing Exposes Discord on QPAM Rule Implementation
A DOL public hearing held Thursday on the new QPAM Rule proposal highlighted concerns about foreign convictions and non-prosecution agreements as grounds for QPAM disqualification.
Pensions
PBGC Provides Financial Assistance to Struggling Metal Workers Pension
The Sheet Metal Workers Local Pension Plan from Massillon, Ohio, will receive nearly $29 million in assistance after over a year of partial payouts to beneficiaries.
Pensions
PBGC Provides Financial Assistance to Struggling Metal Workers Pension
The Sheet Metal Workers Local Pension Plan from Massillon, Ohio, will receive nearly $29 million in assistance after over a year of partial payouts to beneficiaries.
Regulation
US DOL Extends Comment Period for QPAM Exemption Proposal
Regulator also schedules a hearing for November 17, deadline for requests to testify is October 11.
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
Regulators Unhappy With Bitcoin in Retirement Plans
This comes after Fidelity Retirement announced it would offer bitcoin as an investment for its 401(k) plans.
Regulation
DOL Warns Retirement Plans to Be Cautious About PE Investments
The Department of Labor is concerned fiduciaries will misinterpret its earlier June 2020 letter.
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.
Risk
How Can Pensions Best Protect Against Cybersecurity Threats?
Some funds make costly mistakes when it comes to internet security.
Regulation
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.
Regulation
GOP Senators Demand Reversal of DOL’s ESG Decision
Republicans say retirement plans will be harmed if fiduciaries promote justice, diversity, and lower carbon emissions.