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BY Nevin E. Adams, JD 9/26/2023
The federal government wants to make sure that the judge in a Wisconsin case involving the Department of Labor’s ESG rule knows about its recent victory in a federal court in Texas.
In a “notice of supplemental authority,” the Department of Justice has brought to the attention of a federal...
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BY Ted Godbout 9/26/2023
Over the last year, the impact of inflation and economic uncertainty has contributed to increased financial stress, leading many employees to focus on short-term financial needs instead of saving for retirement.
That’s one of the key findings from Bank of America’s 13th annual Workplace Benefits...
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BY Nevin E. Adams, JD 9/26/2023
The ERISA litigation field in recent years has seen copycat filings, plagiarism in pleadings, factual flaws, and misleading assertions—but to my eyes, we’ve just hit a new low.
I’m speaking of what appears to be a new strategy, at least in this area of the law. Specifically, a California law firm...
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BY Ted Godbout 9/25/2023
The Securities and Exchange Commission on Sept. 25 levied a $19 million fine against Deutsche Bank subsidiary DWS Investment Management Americas Inc. (DIMA or DWS) for misstatements regarding its environmental, social and governance (ESG) investment process.
The SEC also charged DWS with another $...
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BY Nevin E. Adams, JD 9/25/2023
A class action suit involving a data hack of participant data at a consulting firm has reached a $7.75 million cash settlement.
The suit arose from a November 2021 cyber security “incident” involving Horizon Actuarial Services LLC[i] and data on some 100,000 individuals who were signed up for...
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BY Ted Godbout 9/25/2023
After enduring one of the worst stock markets in decades, health savings account (HSA) investment assets have grown rapidly, according to Devenir’s 2023 mid-year HSA market survey report.
As part of its 26th semi-annual HSA survey, Devenir reports that, at the mid-point of 2023, $116 billion in...
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BY NAPA Net Staff 9/25/2023
Global adoption of artificial intelligence in all industries is happening at a breakneck pace—the retirement space included. It’s not a question of if but how it will affect plan advisors, sponsors, and participants. In our fall issue, we spoke with top advisors and experts about what to expect and...
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BY NAPA Net Staff 9/25/2023
Late one recent Friday afternoon, the Department of Labor dropped off a draft regulatory package for review that would redefine fiduciary investment advice under the Employee Retirement Income Security Act (ERISA). In this episode, Nevin (Adams) and Fred (Reish) explore the possibilities—the...
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BY Steff Chalk 9/25/2023
Plan sponsors need to understand the financial readiness status of each plan participant in their workforce.
Recently, the Board of Governors of the Federal Reserve System disseminated a letter of review of the regulatory investigation conducted on Silicon Valley Bank (SVB). That oversight letter...
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BY Ted Godbout 9/24/2023
While the gender savings gap apparently has closed in their so-called “personal economies,” new research suggests that women are still showing less confidence than men when it comes to investing and money management.
That was one of the key takeaways from the results of a new survey conducted by...
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