News
Math Works Sued Over 401(k) Fund Performance, Forfeiture Usage
2+ day, 13+ hour ago (51+ words) Bloomberg Law News Software company Math Works Inc. was hit with a proposed class action claiming it offered workers poorly performing investment options in their 401(k) plan while mishandling forfeited contributions. Learn more about Bloomberg Law or Log In to keep…...
Supreme Court Gives Pension Actuaries Exit Bill Flexibility (2)
3+ day, 8+ hour ago (685+ words) Pension funds have flexibility to calculate the liability of withdrawing employers using methods adopted after the date set by law, the US Supreme Court held Thursday, ruling against companies that raised concerns about unpredictable and inflated bills. The case asked…...
Case: Retirement Plans/Delinquent Contributions (D. Minn.)
3+ day, 10+ hour ago (106+ words) Bloomberg Law News The Minnesota federal district court partially granted a motion for default order and injunction filed by the Trustees of the Carpenters and Joiners Welfare Fund and Apprenticeship and Journeymen Training Trust Fund against Top Down Construction for…...
Supreme Court Gives Pension Actuaries Exit Bill Flexibility (1)
3+ day, 11+ hour ago (546+ words) Pension funds have flexibility to calculate the liability of withdrawing employers using methods adopted after the date set by law, the US Supreme Court held Thursday, ruling against companies that raised concerns about unpredictable and inflated bills. The federal law…...
Putting Private Assets in 401(k)s Risks Long-Term Investor Harm
4+ day, 20+ hour ago (250+ words) Private asset managers appear to have'maxed out on the capital available from their traditional stable of institutional investors. They can't maintain their current growth rates without plowing some new fields, so the'roughly $14 trillion in assets sitting in US 401(k)s and…...
Equitable Financial Slips 401(k) Row Despite Pro-Worker Case Law
4+ day, 14+ hour ago (171+ words) Equitable Financial Life Insurance Co. defeated allegations that it offered a flawed stable value fund in the 401(k) plan covering its workforce, but the plaintiff plan participant can try again in an amended complaint. A Rhode Island federal judge grew so…...
Medical Solutions 401(k) Fund Swap Drives Proposed Class Action
4+ day, 14+ hour ago (213+ words) Travel nursing company Medical Solutions LLC removed top-of-the-line target-date funds from its workers" 401(k) plan and replaced them with inferior options, a proposed class action alleges. US Bancorp signed a $250, 000 settlement aimed at resolving a challenge to its 401(k) plan fee levels…...
NY Judge Retirement Age Case Tests Civil Rights Shield Viability
5+ day, 12+ hour ago (119+ words) Bloomberg Law News New York's highest court is being forced to reconcile the state's constitutional requirement that judges stop serving by age 76 with a more recent anti-discrimination amendment. Three judges'one appellate and two from the trial level'will press the Court…...
Trump IRA Order Pressures Small Employers on Retirement Plans
6+ day, 18+ hour ago (797+ words) Businesses are also awaiting regulations from the Treasury Department about how to implement the Biden-era Saver's Match program for retirement plans, which will provide up to $1, 000 in federal funds for retirement contributions made by certain low-income workers. Both the Saver's…...
Pension Insurer Posts Guidance for Mergers Involving Relief Aid
1+ week, 4+ day ago (126+ words) Bloomberg Law News The Pension Benefit Guaranty Corporation issued new guidance for mergers involving multi-employer pension plans when at least one plan has received financial aid through the American Rescue Plan Act. The government's private-sector pension insurer on Wednesday said…...