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
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
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
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
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
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
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
Per the 2020 Universe Benchmarks report, the 2010s was deemed a decade of the defined contribution investor. Attributable to employers embracing automatic features, more employees participating in employee benefit plans, the average savings rate soared,… Read Moreabout Automatic Features Push Plan Participation and Contribution Rates Soar
