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Use of excess DB plan assets for health care extended to 2025
trueExcess defined benefit plan assets can now be used to pay for retiree health care and life insurance through 2025.
DOL fiduciary proposal elicits torrent of comments
trueComment letters on the Department of Labor's proposed fiduciary rule poured in July 21, the last day of the comment period.
Plan sponsors must face up to Tibble ruling
trueThe U.S. Supreme Court's decision in Glenn Tibble et al. vs. Edison International et al. could lead sponsors of defined contribution plans to take extreme actions ranging from cutting back on investment fund options to abandoning plans altogether to avoid litigation risk. Both extremes would be a ...
House panel calls on DOL to withdraw proposed fiduciary rule
trueRepublican members on the House Education and the Workforce Committee want the Department of Labor to withdraw its proposed fiduciary rule.
House Democrats back DOL on fiduciary rule
trueLabor Secretary Thomas Perez is receiving backup from a diverse group of House Democrats as the agency works to update its fiduciary rule.
Fiduciary proposal comment period ends with flurry of opposing viewpoints
trueComment letters on the Department of Labor's proposed fiduciary rule poured in Tuesday, the last day of the comment period, with many groups representing retirement plan investment and service providers warning that while they support a standard that protects clients' best interests, new rules to ...
Labor Department settles ESOP trustee case with PBI Bank
truePBI Bank Inc. will pay $1 million to restore alleged losses to the Miller's Health Systems Inc. employee stock ownership plan, under an agreement with the Department of Labor approved in U.S. District Court in South Bend, Ind.
Chamber of Commerce calls for negotiated fiduciary rule
trueThe Department of Labor should switch to negotiated rulemaking to produce a new fiduciary standard, U.S. Chamber of Congress officials said Monday.
DOL issues fiduciary guidance related to annuity benefit distribution options
trueThe DOL has issued guidance for defined contribution plan sponsors, clarifying their fiduciary responsibilities under certain circumstances for the monitoring and reviewing of annuities as benefit distribution options.
Obama: Clarity on state-run private-sector retirement savings programs by year's end
trueStates interested in creating their own programs for private-sector retirement savings will have further guidance from the Department of Labor by the end of the year, President Barack Obama said.
IRA regulation on the horizon, Washington experts say
trueThe Department of Labor’s proposed update to its fiduciary rule “is all about the ERISA-fication of the IRA space,” Groom Law Group Chairman Steven Saxon told attendees at the Insured Retirement Institute’s Washington conference on Monday.
Senate panel offering no money for DOL fiduciary rule
trueA Senate Appropriations Committee budget bill approved Thursday doesn't allow any money for the Department of Labor to finalize its proposed fiduciary rule.
House committee cuts funding for DOL fiduciary rule-making
trueThe Department of Labor would be unable to spend any money to update its fiduciary rule under a House Appropriations Committee budget approved Wednesday.
Labor secretary defends conflict-of-interest proposal
trueLabor Secretary Thomas Perez defended his agency's proposed new rule to address conflicts of interest in retirement investment advice at a House hearing Wednesday.
DOL fiduciary rule in crosshairs of new spending bill
trueA House bill introduced Tuesday would stop a Labor Department proposal to change investment advice standards for retirement accounts.