Retirement Trends

The Minnesota-based Post-it notes conglomerate was sued by employees, alleging eight years of underperformance of TDFs in comparison to peer benchmarks “is impossible to justify” for 58,000 employees.

The Department of Labor has withdrawn its proposal to eliminate what it referred to as a “redundant” safe harbor rule that provides a standard for fiduciaries in selecting annuity providers.

In September, Senate Minority Leader Chuck Schumer will introduce the Keep Billionaires out of Social Security Act, targeting President Trump’s DOGE cuts to the SSA, to help “reduce wait times and improve access” for seniors, he said.

The Department of Labor has proposed to eliminate a “redundant” safe harbor rule that provides a standard for fiduciaries in selecting annuity providers, however, the rule is needed to ensure the growing inclusion of annuities in 401(k)s, says the Insured Retirement Institute.

“Our industry lacks accountability when it comes to performance,” says Zach Allen, CFA, Chief Investment Officer at PCI and President of RetireAdvisers.

Proponents say retirees will have access to higher returns; critics say the potential risks are too high.