Employee Participation

Empower, the nation’s second largest 401(k) plan provider, has announced a new program that gives access to participants to private market investing, which may bring risk, however, the provider says most participants want access, in its new study.

Remote listings in IT and communications surged 100%, while remote listings in education and training went up 20% respectfully.

A Texas federal judge ruled partially in favor of a group of financial advisors challenging the DOL’s interpretation of fiduciary standards under ERISA, when it pertains to advisors offering recommendations for rollover transactions. 

Forty-three percent of employees surveyed say they have witnessed favoritism in promotions or raises.

Since there have been more than 50 similar 401(k) forfeiture lawsuits filed recently, the Department of Labor has weighed in on the HP lawsuit, now on appeal: “A fiduciary’s use of forfeited employer contributions … alleged in this [HP] case … would not violate ERISA.”

The warning bells are no longer muffled: some of the world’s most influential CEOs are openly declaring that artificial intelligence will decimate jobs, <a href="https://www.wsj.com/tech/ai/ai-white-collar-job-loss-b9856259"><u>according</u></a> to The Wall Street Journal.