The American Bankers Association joined other members of the Military Family Financial Readiness Coalition in offering recommendations to the Biden-Harris administration to improve the financial readiness of military families.
The Department of Labor this week issued a field assistance bulletin to address the problem of so-called “missing participants”—participants and beneficiaries of terminating or abandoned retirement plans who fail to make an election regarding a form of plan distribution—for ERISA fiduciaries administering these plans.
The Department of Labor today issued a final rule formalizing requirements regarding a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
The American Bankers Association today expressed support for a recently finalized Department of Labor interim final rule implementing section 203 of the bipartisan Secure Act of 2019 to require that defined contribution plans (such as 401(k) plans) include two lifetime income illustrations on a plan participant’s pension benefit statement at least once every 12 months.
The American Bankers Association today urged the Department of Labor to withdraw a recent proposal that would add significant regulatory requirements regarding a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
The Department of Labor today issued an interim final rule implementing section 203 of the bipartisan Secure Act of 2019 requiring that defined contribution plans (such as 401(k) plans) include two lifetime income illustrations on a plan participant’s pension benefit statement at least once every 12 months.
ABA today welcomed the Department of Labor’s long-awaited re-proposal to regulate investment advice fiduciaries under the Employee Retirement Income Security Act.
The American Bankers Association this week urged the Department of Labor to withdraw a proposal that would limit pension fiduciaries’ consideration of environmental, social and governance-related issues when selecting plan investments.
With interest around sustainable investing—sometimes referred to as environmental, social and governance (or ESG) investing—on the rise, the Department of Labor this week issued a proposed rule that would confirm Employee Retirement Income Security Act requirements for plan fiduciaries to select investments and investment courses of action based solely on financial considerations relevant to the risk-adjusted economic value of a particular investment or investment course of action.
The Department of Labor today issued its long-awaited re-proposal to regulate investment advice fiduciaries under the Employee Retirement Income Security Act.