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9th Circ. Doubts Calif.'s Standing In DOL Union Transit Fight

The Ninth Circuit appeared open Wednesday to restoring the U.S. Department of Labor's power to deny California transit funding because of a perceived conflict between state pension law and collective bargaining rights, homing in on the state's standing in a dispute that began between the DOL and a union.

California , United-states , Kellie-mejdrich , Us-department-of-labor , Ninth-circuit ,

DOL Finalizes Changes To ERISA Transaction Waiver

The U.S. Department of Labor unveiled a final regulation Tuesday making it tougher for investment managers with serious misconduct on their records to handle Employee Retirement Income Security Act-covered retirement plans, broadening an ineligibility clause that previously only covered criminal convictions.

Kellie-mejdrich , Us-department-of-labor , Employee-retirement-income-security-act-covered ,

DOL Narrows Retirement Asset Manager Exemption

The U.S. Department of Labor unveiled a final regulation Tuesday making it tougher for investment managers with serious misconduct on their records to handle Employee Retirement Income Security Act-covered retirement plans, broadening an ineligibility clause that previously only covered criminal convictions.

Kellie-mejdrich , Us-department-of-labor , Employee-retirement-income-security-act-covered ,

Feds Finalize Restraints On Short-Term Health Insurance

President Joe Biden's administration finalized regulations Thursday that shrink the window for short-term, limited-duration health insurance from three years to no more than four months, but it backed off more sweeping changes from its July proposal that would have affected fixed indemnity insurance.

Joe-biden , Kellie-mejdrich ,

DOL Finalizing ERISA Voluntary Correction Program Changes

A top official with the U.S. Department of Labor's employee benefits arm said Tuesday that the agency expects to soon finalize changes to a program allowing retirement plan managers to voluntarily self-correct when they fail to forward employee contributions on time or make other transaction errors.

Us-department-of-labor , Kellie-mejdrich ,

3rd Circ. Lets J&J Appeal Class Cert. In Talc Concealment Suit

Johnson & Johnson can appeal a New Jersey federal court's class certification order from December, the Third Circuit ruled Wednesday, in an investor action alleging the company artificially inflated its stock price by failing to disclose cancer risks associated with its talcum powder products.

New-jersey , United-states , Johnson , Kellie-mejdrich , Third-circuit ,

2nd Circ. Backs Goldman's Victory In 401(k) Self-Dealing Suit

The Second Circuit upheld Goldman Sachs' win in a class action from 29,000 employee 401(k) plan participants who said the banking giant violated federal benefits law by including underperforming proprietary investment funds in their investment roster, citing evidence Wednesday of a "robust process" to manage potential conflicts.

Goldman-sach , Kellie-mejdrich , Second-circuit ,

DOL's Benefits Arm Reports $1.4B In Recoveries In 2023

The U.S. Department of Labor's Employee Benefits Security Administration announced Tuesday that it recovered more than $1.4 billion in payments to plans, beneficiaries and participants in fiscal year 2023, an amount that is essentially level with the agency's total recoveries from the previous year.

Kellie-mejdrich , Employee-benefits-security-administration ,

DOL Guidance Details 401(k) Emergency Savings Plans

The U.S. Department of Labor on Wednesday published guidance for employers and workers further explaining how to set up and use emergency savings accounts within a defined contribution retirement plan, a new feature Congress approved at the end of 2022 as part of a policy overhaul called Secure 2.0.

Us-department-of-labor-on , Kellie-mejdrich ,

Bipartisan US House Group Urges DOL To Drop Fiduciary Rule

A bipartisan group of lawmakers in the U.S. House of Representatives urged President Joe Biden's administration Monday to abandon a Department of Labor proposal to expand the definition of who qualifies as a fiduciary under the Employee Retirement Income Security Act, arguing the DOL should focus attention elsewhere.

Joe-biden , Department-of-labor , Kellie-mejdrich , President-joe-biden , Employee-retirement-income-security-act ,