Legal

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.

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.

Both firms, and many more, have been sued by employees in class action lawsuits over the PRT deals made with insurance company Athene Annuity & Life, alleging the firm "breached their fiduciary duties," however, district courts issued split rulings on these 2 cases.

After a federal judge ruled that American Airlines violated its ERISA duties by focusing on ESG factors in choosing investments, a coalition of Democratic city and state officials sent letters to the SEC and DOL, urging them to protect ESG investing.

More than 600,000 American companies could be at risk of fines, legal penalties and fiduciary failure for failing to auto-enroll, offer qualified investments or transmit payments on time, according to Abernathy Daley 401k Consultants.