The American Rescue Plan Act provides extensive financial assistance to underfunded multiemployer pension plans and temporarily reduces funding requirements for…
A major breach of pension plan participants’ data in the U.K. is a reminder for plan sponsors and administrators to assess the data privacy and security capabilities of potential service providers.
Retirement plan fiduciaries will be barred from casting corporate-shareholder proxy votes in favor of social or political positions that don’t advance the financial interests of retirement plan participants, under a Department of Labor final rule.
Joe Biden’s administration is expected to differ from President Donald Trump’s approach to promoting retirement security, with a heavier regulatory hand, benefits advisors said. Biden also supports replacing 401(k) contribution tax breaks with flat-tax credits, among other changes.
The Department of Labor (DOL) released a final rule requiring fiduciaries to select investments for 401(k) and other plans based on participants’ financial interests, rather than nonfinancial factors such as a fund’s environmental, social and governance (ESG) criteria.