25 state attorneys general filed to stop progressive governance over retirement plans. Utah and Texas led a court filing signed by 25 states, requesting that a federal judge…
Read MoreRetirement Plan Investments
Public Comments Reopened for Proposed Amendment to DOL Policy
The discussions are to focus on retirement-focused investment plans. At the end of March, the Department of Labor (DOL) reopened public comments on its proposed amendment to their…
Read MorePresident Vetoes Bill on ESG Investing
The legislation would have reversed the Labor Department rule. “I just vetoed my first bill,” President Biden announced Monday. The Labor Department had previously issued a rule allowing…
Read MoreLabor Department Finalizes Secure Act Implementation
Assistant secretary for benefits announces changes to 5500 Annual Return Form. The Department of Labor announced changes to the 2023 Form 5500 Annual Return/Report of Employee Benefit Plan.…
Read MoreSenate Passes Bill Blocking ESG Investing Rule
President Biden’s veto is expected. Late last year, the Department of Labor modified its rules, explicitly permitting retirement plans to offer Environmental, Social, and Governance (ESG) options. ESG…
Read MoreHalf the States Sue to Stop ESG Rule
The rule involves state 401(k) investment funds. The attorney general of Utah is leading a coalition of 25 states in a suit that seeks to stop a rule…
Read MoreWithdrawals From Retirement Plans Increase
Americans are taking “hardship” withdrawals from 40(k) plans. The Internal Revenue Service allows hardship withdrawal from retirement funds without penalty when there is an immediate or heavy financial…
Read MoreAverage 401(k) Down $34,000 This Year
Americans have experienced more than $2 trillion in losses. New economic research has found that the average person’s 401(k) has lost some $34,000 in value since the beginning…
Read MoreIRS Admits Website Exposure of Confidential Information
Officials say leaked taxpayer data did not include social security numbers. The Internal Revenue Service has acknowledge that private taxpayer information was accidentally disclosed on its website earlier…
Read MoreIRS Increases 401(k) Contribution Limit
Maximum contributions to IRAs is unchanged. The Internal Revenue Service announced that workers will be able to set aside more money for their 401(k) plans in 2022. The employee contribution limit…
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