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department of labor
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ESG Rule Survives Legal Challenge from Red State AGs
Federal judge’s decision Thursday keeps Labor Department’s controversial 2022 rule in force; draws praise from retirement industry voices
New DOL Fiduciary Rule Under OMB Review; Gets Bashed by Insurance Trade Groups
While actual text of proposed fiduciary rule delivered to OMB late Friday won’t be made public for about a month, groups say it “will hurt working families’ ability to save for retirement”
DOL Seeks Nominees for 5 Vacancies on 2024 ERISA Advisory Council
Interested parties have until Oct. 23 to apply for a 3-year term on the 15-member board that makes recommendations to Labor Secretary on ERISA matters
Employee Fiduciary Looks to DOL for 401(k) Fee Transparency
In a public letter, Employee Fiduciary requested for improvements to annual fee disclosures that those in participant-directed 401(k) plans receive
Republican Lawmakers Push DOL to Halt Work on Fiduciary Rule
In a new letter to the DOL, Sen. Bill Cassidy (R-LA) and Rep. Virginia Foxx (R-N.C.) asked the DOL to "cease further action" on the fiduciary rule
Federal Judge Sides with DOL on ForUsAll Crypto Complaint
In the dismissal, a district judge ruled that ForUsAll could not prove the DOL's guidance had financially harmed its business
Financial Advisor Sues Wells Fargo for Ageism and Workplace Discrimination
A Wells Fargo advisor says the firm discriminated against him by moving him to a “less desirable” branch and steering away his clients to a younger professional
ESOP Workers Report Higher Retirement Account Balances
Workers of employee stock ownership plans had a median account balance of $80,500, compared to $30,000 for the average 401(k) participant
401(k)s Miss Out on Billions by Not Adding Private Equity, Study Finds
New report says defined contribution plans incorporating PE and real estate investments like defined benefit plans do could add $35 billion a year
DOL Fiduciary Rule Update with Fred Reish
Fred Reish discusses retirement plan-to-IRA rollover recommendation made by an advisor who is a fiduciary to a plan or participant constitutes a fiduciary act, necessitating the use of Prohibited Transaction Exemption 2020-02.