Surety Matters

Our blog covering the latest in bonds and insurance
ERISA 06.24.2020

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

DOL Proposal Fortifies Fiduciary Role in ESG Investing
ERISA 06.24.2020

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

Fidelity Investments Reaches Settlement in ERISA Lawsuit
ERISA 06.22.2020

IRS Extends COVID-19 Relief for Plan Participants

The IRS has prolonged relief to plan participants whose significant others are laid off and take COVID-19-related loans or distributions from their retirement accounts, as well as offered novel safe harbors for loan repayments. Per…
Read Moreabout IRS Extends COVID-19 Relief for Plan Participants

IRS Extends COVID-19 Relief for Plan Participants
ERISA 06.18.2020

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

SCOTUS Rules Pensioners in Fully-Funded Plans Cannot Sue
ERISA 06.17.2020

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

DOL Releases RFI on PTEs Involving Pooled Employer Plans
ERISA 06.17.2020

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

Update on EBSA Probing ESG Holdings
ERISA 06.17.2020

Excessive Fee Lawsuit Targets RK Fees

In the U.S. District Court for the Southern District of Ohio, a lawsuit was filed by plaintiff-participants Gregory Stark, William Gaff and Michael Lewin as representatives on behalf of participants in the $2.9 billion Keycorp…
Read Moreabout Excessive Fee Lawsuit Targets RK Fees

Excessive Fee Lawsuit Targets RK Fees
ERISA 06.15.2020

Novel SBA Guidance Simplifies Key PPP Provision

Partnering with the Treasury Department, The U.S. Small Business Administration launched novel guidance offering vital clarifications for individuals taking advantage of the Paycheck Protection Program. Published on June 12, the Interim Final Rule edits the…
Read Moreabout Novel SBA Guidance Simplifies Key PPP Provision

Novel SBA Guidance Simplifies Key PPP Provision
ERISA 06.15.2020

Asset-Weighted Expense Ratio Drops Again

Released on June 8th, an annual study examining trends in open-end mutual funds and exchange-trade funds found that the asset-weighted average expense ratio plummeted to 0.45% in 2019, slicing funds and ETFs nearly in half…
Read Moreabout Asset-Weighted Expense Ratio Drops Again

Asset-Weighted Expense Ratio Drops Again