Regulatory Compliance

The ink was barely dry on the denial of a motion to dismiss the suit, when American Airlines filed a motion of summary judgment, claiming that “there is no genuine issue as to any material fact and the [movant] is entitled to judgment as a matter of law.” Where We’ve Been Participant-plaintiff (... READ MORE

Recently, we explored the reasons why small businesses DON’T offer a retirement plan to their workers. But there are quite different—and positive—reasons for choosing to do so. The obstacles that keep most small businesses from offering a retirement plan to their workers are an assortment of... READ MORE

A big plan has struck a big cash settlement in an excessive fee suit involving the use of proprietary investment products in its 401(k) plan. The suit was brought by a number of plaintiff-participants relating to the management of the New York Life Insurance Company Employee Progress-Sharing... READ MORE

Looks like an American Airlines participant-plaintiff who argued that plan fiduciaries didn’t act in participants’ best interests in including funds managed by firms that allegedly favored ESG interests will get his day in court. Participant-plaintiff (and pilot) Bryan P. Spence filed suit in the... READ MORE

Congress’ watchdog agency apparently thinks so. That was one of the recommendations in a newly released report by the Government Accountability Office (GAO).  A “pension dashboard” could be useful in the United States to help participants track their retirement savings when they change jobs, but... READ MORE

The plan document is not a suggestion; it’s a roadmap to compliance and competent and effective administration. But it’s not always given the regard it deserves—which can imperil a plan and those whom it ultimately was written to serve.  Oops Robert M. Kaplan, Director of Technical Education at... READ MORE

The parties in an excessive fee suit—that also raised issues regarding an arbitration clause—are “…pleased that after years of hard-fought litigation, they are able to present for preliminary approval a proposed settlement.” That settlement includes a cash payment of $4,000,000.00 (four million... READ MORE

Those who make filings with the Pension Benefit Guaranty Corporation (PBGC) now must use the agency’s new e-Filing portal. It became operational on Feb. 1, 2024.  The PBGC had announced on Jan. 8 that it would launch a new and improved e-filing portal at the start of the next month. The launch of... READ MORE

A new report offers a new level of transparency on recordkeeping fees paid by the large plan targets of excessive fee suits—and calls out a number of misleading claims and benchmarks used by the plaintiffs’ bar in bringing those suits. According to the announcement from Encore Fiduciary, formerly... READ MORE