Legal

The EBSA doesnt agree but an audit by the Office of Inspector General concluded the agency is not providing enough oversight of ERISA retirement plans that invest in alternative investments.

International Paper has agreed to pay $30 million to settle an excessive fees lawsuit brought by current and former plan participants.

The initiative would allow changes to be made to the retirement benefits of current employees.

But Gov. Quinn said he planned to appeal to a higher court, and his attorneys were due in court Friday on the issue.

According to Pew, the states bipartisan reform effort this year resulted in a fair and effective retirement system for both employees and taxpayers.

The council plans to recommend to the DOL that if plan participants do not respond to notices or retirement distribution checks from a retirement plan, the plan sponsor should be able to put those funds in a forfeiture account.