Retirement Trends

The former employees argue that the company was involved in self-dealing and prohibited transactions under ERISA because it designed its own funds, picked the managers, decided how assets were allocated and then collected related fees.

The complaint, filed by the law firm Sanford Heisler Sharp McKnight, alleges that Bloomberg failed to remove two funds from its plan after they performed poorly for more than a decade.

Currently, once the account owner reaches age 65, there's penalty-free access for any purpose.

Business-owner clients who sponsor these retirement vehicles have a responsibility to keep them up to date.

This week T. Rowe Price presented its 2026 Retirement Market Outlook, providing updates on retirement policy, building a more resilient investment portfolio, how AI is transforming retirement, and advice and personalization.

The DOL, not Congress, will likely be where most of the action is, Washington watchers say.