Retirement

Empower's CEO has replied to Senator Elizabeth Warren's letter to him, which questioned the risks of Empower's new private market program, by responding that the "retirement landscape is changing" and it "succeeds when it evolves."

SECURE 2.0 required that the Secretary of Labor conduct a study on the PEP industry – and now the DOL has submitted a Request for Information to the White House Office of Management and Budget on PEPs to conduct a study.

The deal gives the investment firm $7.3 billion in assets as it attempts to broaden its holdings of private assets, following BlackRock's announcement last week of a new all-in-one 401(k) target date fund with private equity.

The Securities and Exchange Commission's new Crypto Task Force is paving the way for crypto in 401(k) plans, by issuing disclosure requirements for exchange-traded products tied to cryptocurrencies.

After a jury trial awarded 26,000 bank employees $38 million – short of the damages sought – in an ERISA fiduciary breach lawsuit in April, the leading retirement plan provider agreed to the extra $10 million to resolve the suit.

On the 4th of July, President Donald Trump signed into law the new tax bill, which includes the Trump accounts for newborns born over the next four years.