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Bogard & Denton has a new target in an excessive fee suit—the plan’s investment advisor. More specifically, plaintiffs Michelle Mills, Coy Sarell, Chad Westover, Brent Aleshire, Barbara Kershner, Paula Schaub, and Jennifer Silva—who just two months ago filed suit[1] against the plan... READ MORE
How much injury do you need to suffer in order to bring an excessive fee suit? That issue arose in one of a half-dozen cases that had been frozen in place last fall pending the U.S. Supreme Court’s decision in Hughes v. Northwestern University, decided this past January. The case at hand was... READ MORE
“Saving is the No. 1 priority,” says Robert Kaplan, the American Retirement Association’s Director of Technical Education. Kaplan made his comments during a recent ASPPA webcast that highlighted tax credits and deductions relevant to retirement saving, as well as proposals intended to increase it... READ MORE
The American Retirement Association is strongly opposed to legislation moving through Congress that would prohibit arbitration of claims and discretionary clauses in all ERISA covered retirement plans.  “On behalf of the over 30,000 members of the American Retirement Association (ARA), we hereby... READ MORE
Spring can be a time of explosive growth—and April, as well as the first quarter of 2022, proved that to be the case for private-sector pension plan funding, recent reports indicate. And in the process, liabilities continued to fall.  The funded status surplus for the plans measured by the... READ MORE
In the wake of the SEC announcing a $6 billion securities fraud deal against Allianz Global Investors U.S. LLC (AGI U.S.), the firm off-loaded most of its U.S. investment management business as part of the terms of the deal.    The SEC announced May 17 that it had charged AGI U.S. and three former... READ MORE
Two Senate bills have been introduced and a bicameral working group formed that seek to ease the administrative burdens for small businesses, as well as expand access to those without an employer-sponsored retirement savings plan.  Sens. John Hickenlooper (D-CO) and Susan Collins (R-ME), who both... READ MORE
Citing the current lack of a “compelling policy objective that comports with the Department’s mandate,” the American Retirement Association has commented that the Labor Department shouldn’t call out climate-related risks for special attention.  The comments came in response to the Labor Department... READ MORE
A bill is before the California Senate that would expand CalSavers, the state-run retirement plan that provides coverage to those whose employers for not, to cover almost all employers in the Golden State. SB 1126, introduced by Sen. Dave Cortese (D-Santa Clara), would expand the definition of “... READ MORE
Hurricane season is looming on the horizon, but that is just one of the natural disasters that can affect a retirement plan and its sponsor. The IRS has issued some tips to aid in being ready for any eventuality.  Documents  Place original documents inside waterproof containers in a secure space... READ MORE

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