Retirement

Senator Tommy Tuberville has reintroduced the Financial Freedom Act, which would give retirement plan participants the ability to control how their assets are invested, while reversing DOL regulatory guidance on cryptocurrency.

Plan sponsors need to have flexibility to design and administer retirement plans to best serve their workforces, say the ERISA Industry Committee and the American Institute of CPAs.

The class action lawsuit filed by employees who alleged they were shorted on pension payments, was originally dismissed after plaintiffs missed the 3-year deadline to file a fiduciary claim, however, the Labor Department came to the workers’ defense.

To clear up any confusion for administrators of both single-employer and multi-employer defined benefit plans, the Department of Labor has issued new guidance for annual AFN notices that are due by April 30, 2025.

While financial experts acknowledge the panic many Americans are feeling about their 401(k)s since the stock market plummeted, most agree they are a solid long-term investment because most have a '60/40 account’ – 60% stocks and 40% stable investments, like bonds.

The Women’s Retirement Protection Act of 2025 was just reintroduced in both the House and Senate to help close the retirement gap and improve women’s financial security.