News
Government Pension Insurer Launches Amicus Brief Request Program
18+ hour, 6+ min ago (42+ words) Bloomberg Law News The federal government's pension insurer on Thursday launched a new program allowing private parties to request its input in litigation. Learn more about Bloomberg Law or Log In to keep reading:...
Evergy 401(k) Target-Date Fund Lawsuit Settles for $2. 6 Million
15+ hour, 22+ min ago (115+ words) Bloomberg Law News Evergy Inc. workers challenging the target-date funds in their 401(k) plan negotiated a $2. 6 million class settlement resolving claims against their employer and the plan's investment adviser. The proposed deal, announced Wednesday in the US District Court for the…...
401(k) Advisers See Clarity for Now in Fiduciary Rule Rollbacks
2+ day, 3+ hour ago (885+ words) Financial advisers and insurance agents are hoping a series of recent court rulings and Department of Labor actions that reduced regulatory burdens provide consistency on when giving advice on a 401(k) plan qualifies someone as a fiduciary. Since March 12, a federal…...
Labor Department Looks to Join More 401(k) Forfeiture Arguments
2+ day, 23+ hour ago (108+ words) Bloomberg Law News The US Labor Department wants to participate in Third Circuit oral arguments in a pair of cases challenging how Honeywell International Inc. and Siemens Corp. handle forfeited contributions in their employees" 401(k) plans. The department on Monday asked…...
AT&T Liable for 401(k) Provider Contract With Trial on Horizon
6+ day, 17+ hour ago (106+ words) Bloomberg Law News AT&T Inc. mismanaged a 401(k) plan service provider arrangement in violation of federal law and must defend other aspects of its plan at trial, according to a sealed opinion made publicly available Thursday. AT&T engaged in…...
401(k) Benchmark Standard Creates Bad Incentives, Justices Told
6+ day, 15+ hour ago (56+ words) Bloomberg Law News Requiring workers challenging their 401(k) investment options to identify a "meaningful benchmark" in their complaints creates perverse incentives for retirement plan fiduciaries, multiple groups argued in a series of US Supreme Court briefs. Learn more about Bloomberg Law…...
DOL Grants UBS Pass for Retirement Fund Management Until 2035
6+ day, 22+ hour ago (104+ words) Bloomberg Law News The Labor Department granted an exemption to allow asset managers under the Swiss-based UBS Group AG to continue managing retirement assets until May 2035, with certain conditions. The Employee Benefits Security Administration issued a notice of the exemptionon…...
Trump to Sign Order to Expand Access to Retirement Plans
1+ week, 17+ hour ago (296+ words) President Donald Trump will sign an executive order aimed at expanding access to retirement plans for workers whose employers don't offer that benefit, according to a White House official, a bid to refocus the administration's messaging on economic issues. The…...
Labor Department Seeks Time During HP 401(k) Forfeiture Argument
2+ week, 18+ hour ago (116+ words) The US Labor Department asked to participate in Ninth Circuit oral arguments over how HP Inc. handles forfeited contributions in its employees" 401(k) plan. The case gives the US Court of Appeals for the Ninth Circuit its first chance to consider…...
My Michigan Health Agrees to $1. 9 Million Retirement Fund Accord
1+ week, 3+ day ago (125+ words) My Michigan Health signed a $1. 9 million class settlement aimed at resolving litigation claiming the health-care system's retirement plan is plagued by an "entry-level" stable value investment with subpar returns. The proposed deal, announced Monday in the US District Court for…...