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Student loans are again making headlines, and October marks the resumption of payments for borrowers after a lengthy COVID-related hiatus, a politically controversial issue affecting over 45 million Americans. One would think it would mainly impact younger workers, yet “even seasoned employees are... READ MORE
The Securities and Exchange Commission (SEC) doled out significant penalties to five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisors for “widespread and longstanding failures to maintain and preserve electronic communications... READ MORE
Fraud involving faulty distributions and takeovers of client accounts and retirement plans is an ongoing concern, and the anxiety over potentially losing savings that took a career to build (and just who might be liable) is growing. High-profile lawsuits from participants over security breaches—a... READ MORE
In a move that would allow more individuals to save more for their health care expenses in retirement, the House Ways and Means Committee on Sept. 28 approved legislation to significantly expand the health savings account (HSA) contribution limits, as well as broaden the number of individuals... READ MORE
Well, here we are again at the end of yet another workweek …and, as it turns out, another month. And yet, there’s no shortage of…well, just look at what happened to these guys and gals… First, some odds and ends… Theatre tickets from night of Lincoln assassination sell for… well, less than you... READ MORE
Another federal judge has weighed the assertions made in an excessive fee suit—and found them lacking both in terms of a “meaningful benchmark,” and specificity of the claims made. The Suit The plaintiffs here—Jennifer R. Lard, John G. Juergens, Gerald L. Robinson, Scott W. Anderson, Thomas A.... READ MORE
Securities and Exchange Commission Chairman Gary Gensler faced a barrage of criticism from members of both parties on the House Financial Services Committee over what some described as the Commission’s “radical agenda” that threatens the integrity of financial markets.   During the nearly five-... READ MORE
A suit alleging a breach of fiduciary duty has been filed because the plan fiduciaries offset employer contributions with forfeitures, rather than using them for the “exclusive benefit” of participants.    Plaintiff Konstantina Dimou, a participant in the Thermo Fisher Scientific Inc. 401(k)... READ MORE
Vestwell continued its march on state-sponsored private retirement plans on Tuesday and announced that New Jersey has selected the company as its program administrator for the Secure Choice Savings Program. “The partnership will provide New Jersey residents with access to modern retirement plans... READ MORE
The bad news is that 401(k) loans are on the rise and have consistently increased since a low in 2020, according to a new report from T. Rowe Price. Thankfully, they have yet to reach pre-pandemic levels. The firm noted that loans decreased at the beginning of the pandemic due in part to the... READ MORE
September Episode Description: In personal branding, we’re encouraged to be authentic and diverse but then criticized when we open up, making us wonder—what does the world really want from us? How can we express ourselves in a way that we’re comfortable with, that’s “real and true,” but not... READ MORE
ERISA consultants at the Retirement Learning Center Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock options, and... READ MORE
Analysis of the first state-sponsored retirement plan for uncovered workers—OregonSaves—supports earlier findings that auto-IRAs do, in fact, close the coverage gap. More specifically, a new paper examined Oregon’s program, started in 2017, which requires employers who did not offer any workplace... READ MORE
As if the stress from high inflation and the possibility of an economic downturn wasn’t already enough, add concerns about higher taxes on 401(k) plans and IRAs to the list of worries. According to Allianz Life’s 2023 Q3 Quarterly Market Perceptions Study, Americans are increasingly worried about... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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 $... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
Congress’ watchdog agency has provided Acting Labor Secretary Julie Su the green light to continue serving in an acting capacity—news that is not likely to please congressional Republicans. In a memo dated Sept. 21, the Government Accountability Office—responding to a congressional request... READ MORE

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