Defined Contribution

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.

These legal pros, who represent clients in the employee benefits field, sent a letter to Congress, in the aftermath of the just-passed tax bill which included little for the retirement sector, to increase retirement "plan formation, plan participation, and retirement savings." 

The Department of Education has announced that 0% loans will start accruing interest on August 1 for student loan borrowers in the legally-challenged Saving on a Valuable Education plan, while wage garnishment will begin later this summer.

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. 

Shortly after the Supreme Court ruled on behalf of employees in the Cornell University excessive fees case, now comes a similar suit filed by Stifel employees over its profit sharing 401(k) plan.

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."