Plan Sponsors Specifically Threatened by Cyber Attacks
Retirement plans and, specifically, their plan sponsors are being threatened more and more by cyber attacks. Recordkeepers, custodians, and third party administrators are being attacked due to all the valuable personal data they harbor and…
Read Moreabout Plan Sponsors Specifically Threatened by Cyber Attacks
Why Small and medium-sized enterprises are Expanding Cyber Insurance Budgets
During this time of uncertainty, industries are particularly vulnerable to cyber breaches. Last year alone, ransomware targets forfeited over $1.3 billion to hackers, including high-profile victims like hospitals, airlines and retailers. However, small businesses are…
Read Moreabout Why Small and medium-sized enterprises are Expanding Cyber Insurance Budgets
IRS Grants RMDs Rollover Relief
Novel guidance has been published by the Internal Revenue Service, who extended the rollback period for minimum distributions already taken this year. The guidance encompasses a series of FAQs and offers plans with sample amendments…
Read Moreabout IRS Grants RMDs Rollover Relief
Pension Risk Transfers Drop in May
Pension risk transfer premiums fell significantly last month due to a continuous decline in both annuity purchase rates and discount rates. Per the latest pension buyout index study, discount rates sunk 27 basis points this…
Read Moreabout Pension Risk Transfers Drop in May
DOL Proposal Fortifies Fiduciary Role in ESG Investing
According to a new proposed rule from the Labor Department, ERISA plan fiduciaries are not allowed to invest in ESG vehicles that take on more risk and sacrifice investment returns. The rule, published Tuesday night,…
Read Moreabout DOL Proposal Fortifies Fiduciary Role in ESG Investing
Fidelity Investments Reaches Settlement in ERISA Lawsuit
Fidelity Investments just reached a settlement with former plan participants in the firm’s 401(k) plan, who accused plan fiduciaries of violating ERISA laws. Filed on June 18 in U.S. District Court in Boston, the plaintiffs…
Read Moreabout Fidelity Investments Reaches Settlement in ERISA Lawsuit
SCOTUS Rules Pensioners in Fully-Funded Plans Cannot Sue
On Monday, in a 5-4 decision, the Supreme Court of the United States ruled that plan participants of defined benefit plans not underfunded do not have legal standing to sue plan fiduciaries for claims of…
Read Moreabout SCOTUS Rules Pensioners in Fully-Funded Plans Cannot Sue
DOL Releases RFI on PTEs Involving Pooled Employer Plans
The Department of Labor just published its Request for Information (RFI) on PEPs, or Prohibited Transactions involving Pooled Employer Plans (PEPs) under the SECURE Act as well as other multiple employer plans. Per a press…
Read Moreabout DOL Releases RFI on PTEs Involving Pooled Employer Plans
Update on EBSA Probing ESG Holdings
The New York Regional Office of the Employee Benefit Security Administration is requesting a laundry list of information from plans with ESG funds regarding the review and selection process for said options. The office is…
Read Moreabout Update on EBSA Probing ESG Holdings