Defined Benefits

Senator Bill Cassidy, along with 26 colleagues, is calling for the “immediate implementation” of the new Social Security law, after SSA announced payments to public workers could take “more than 1 year.”

Senators Jack Reed and Sheldon Whitehouse, who co-sponsored the new federal law, are calling on the Trump administration to expedite its implementation, following the SSA’s announcement that it could take “more than 1 year” to make payments to public service retirees.

In early January, President Biden signed the new law, which will boost Social Security retirement payments to police and firefighters, but now payments (though retroactive) will be delayed.

The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker’s PRT class action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.

On Wednesday, the justices were divided on the class action lawsuit on behalf of 28,000 Cornell University employees accusing the school's retirement plans of paying excessive recordkeeping fees.

Last week, BlackRock dropped out of the United Nations-backed climate change investing initiative, which was followed by NZAM suspending its activities on Monday because of “recent developments … in investors’ respective jurisdictions,” according to its website.