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…
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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,…
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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…
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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…
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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…
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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…
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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…
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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…
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Colorado’s Savings Plan Offers Employer Mandate
Colorado is expected to join states across the country in having a state-sponsored retirement savings plan for private sector employees, including a mandate for employers with greater than five workers that do not provide a…
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