The ESG Working Group plans to focus on how ESG-centric investing prioritizes ideology over profits, they say, to the detriment of consumers, claiming "the Biden Administration is making it harder for Americans to retire."
In advance of the IRS's procedure update on SECURE 2.0's expanded self-correction under the Employee Plans Compliance Resolution System, the agency has issued interim guidance.
The Labor Department's Spring agenda includes a proposal that would amend the regulatory definition of a fiduciary, taking into account practices of investment advisers and the expectations of plan sponsors and participants.
Benefits groups support the proposal, which would require retirement plans to use money forfeited by participants when they leave an employer before the end of a vesting schedule, starting in 2024..
Hundreds of families were illegally denied life-insurance death benefits despite paying into the plan for years, in what the Department of Labor called a "game of gotcha."
There are battle lines forming as the Senate Health, Education, Labor and Pensions Committee prepares for an April 20th hearing on the nomination of Acting Secretary Julie Su, as Republicans have called for her withdrawal.
That question was debated at a Senate Finance Committee, and there was a bipartisan consensus to make the drug dispensing process fairer so that people aren't "mugged at the pharmacy counter," as one Senator put it.
The National Federation of Small Business is urging Congress to expand access to HSAs and HRAs and expand tax credits to small businesses in order to level the playing field between large and small employers.
From an attempt to override the veto to a legal challenge by Republican state attorneys general in 25 states, the political issues surrounding Labor's ESG rule will continue to swirl for the foreseeable future.
In the wake of SECURE 2.0, the Department of Labor has extended the public comment period for the Voluntary Fiduciary Correction Program that allows fiduciaries to self-correct late participant contributions.
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"uri": "/2023/07/06/esg-investing-house-republicans-outline-policy-goals-in-new-interim-report/",
"title": "ESG investing: House Republicans outline policy goals in new interim report",
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"summary": "The ESG Working Group plans to focus on how ESG-centric investing prioritizes ideology over profits, they say, to the detriment of consumers, claiming \"the Biden Administration is making it harder for Americans to retire.\"",
"body": null
},
{
"uri": "/2023/06/28/secure-2-0s-retirement-plan-correction-provision-irs-issues-interim-guidance/",
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"summary": "In advance of the IRS's procedure update on SECURE 2.0's expanded self-correction under the Employee Plans Compliance Resolution System, the agency has issued interim guidance.",
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"uri": "/2023/06/20/new-fiduciary-rules-release-date-confirmed-in-dols-updated-agenda/",
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"summary": "The Labor Department's Spring agenda includes a proposal that would amend the regulatory definition of a fiduciary, taking into account practices of investment advisers and the expectations of plan sponsors and participants.",
"body": null
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"uri": "/2023/06/07/irs-proposed-retirement-plan-rule-sets-deadline-for-using-401k-plan-forfeitures/",
"title": "IRS proposed retirement plan rule: Sets deadline for using 401(k) plan forfeitures",
"byline": "David Baumann",
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"prettyDate": "June 07, 2023",
"timeToRead": "4 minute",
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"summary": "Benefits groups support the proposal, which would require retirement plans to use money forfeited by participants when they leave an employer before the end of a vesting schedule, starting in 2024..",
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"uri": "/2023/05/24/dol-prudential-forced-to-pay-7m-to-families-after-unfairly-denying-claims/",
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"byline": "David Baumann",
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"prettyDate": "May 24, 2023",
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"summary": "Hundreds of families were illegally denied life-insurance death benefits despite paying into the plan for years, in what the Department of Labor called a \"game of gotcha.\"",
"body": null
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{
"uri": "/2023/04/12/bidens-nominee-for-dol-secretary-on-shaky-ground-in-senate/",
"title": "Biden's nominee for DOL Secretary on shaky ground in Senate",
"byline": "David Baumann",
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"uri": "/2023/04/03/are-pbms-to-blame-for-the-high-cost-of-prescription-drugs/",
"title": "Are PBMs to blame for the high cost of prescription drugs?",
"byline": "David Baumann",
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"summary": "That question was debated at a Senate Finance Committee, and there was a bipartisan consensus to make the drug dispensing process fairer so that people aren't \"mugged at the pharmacy counter,\" as one Senator put it.",
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"uri": "/2023/04/03/crushed-by-rising-health-care-costs-small-businesses-urging-congress-to-act/",
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"byline": "David Baumann",
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"prettyDate": "April 03, 2023",
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},
{
"uri": "/2023/03/24/dols-esg-investing-rule-challenge-alive-despite-biden-veto/",
"title": "DOL's ESG investing rule challenge alive, despite Biden veto",
"byline": "David Baumann",
"kicker": "Analysis",
"prettyDate": "March 24, 2023",
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"summary": "From an attempt to override the veto to a legal challenge by Republican state attorneys general in 25 states, the political issues surrounding Labor's ESG rule will continue to swirl for the foreseeable future.",
"body": null
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{
"uri": "/2023/02/17/dol-reopens-comment-period-on-its-new-401k-self-correct-program/",
"title": "DOL: More time to comment on agency's new 401(k) self-correction program",
"byline": "David Baumann",
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"prettyDate": "February 17, 2023",
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