Reading 45,000 Comments on DOL 401(k) Investment Selection Rule

“The March 31 proposal set out a regulatory safe harbor outlining six factors fiduciaries can consider when selecting investments: performance, fees, liquidity, valuation, benchmarks and complexity. The proposal, issued following President Donald Trump's August 2025 executive order on expanding access to alternative assets in retirement plans, is intended to clarify fiduciary prudence when selecting investments, while reducing litigation risk for plan sponsors.”

PLANADVISER

Does ERISA Require a 403(b) Plan to Have a Committee Charter?

“ERISA does not require your committee to have a formal charter, and there is no single right answer on whether to adopt one–some plan sponsors do and some do not.”

PLANSPONSOR

Exemption for Certain Prohibited Transactions Involving the Goldman Sachs Group, Inc. (Goldman) Located in New York, New York

“This exemption allows current and future Goldman-related asset managers to continue to rely on Prohibited Transaction Exemption 84-14 (PTE 84-14), notwithstanding the GS Malaysia FCPA Conviction, if certain conditions are met.”

Federal Register

Proposed Submission of Information Collection for OMB Review; Comment Request; Generic Clearance for the Collection of Qualitative and Quantitative Feedback on Agency Service Delivery

“This site displays a prototype of a “Web 2.0” version of the daily Federal Register. It is not an official legal edition of the Federal Register, and does not replace the official print version or the official electronic version on GPO’s govinfo.”

Federal Register

Employer Groups Urge 8th Circuit to Review ERISA Case Class Certification

“The case, brought by employees, alleges Compass violated the Employee Retirement Income Security Act by charging tobacco users higher health insurance premiums without properly providing or disclosing alternatives that would allow participants to avoid the surcharge. ... The employer groups warned that allowing the class certification order in the Compass case to stand could encourage similar rulings across the country and increase settlement pressure on companies defending ERISA cases.”

PLANSPONSOR

$23M Settlement Ends MetLife’s Mortality Table Case

“The plaintiffs claimed that MetLife was not paying retirees the full value they were owed when they chose certain benefit options, such as a joint and survivor annuity. The lawsuit claimed MetLife should have made sure all annuity options were "actuarially equivalent"—meaning they should be worth the same amount overall as the plan's standard benefit—according to ERISA rules and the plan's own documents.”

PLANADVISER

PLANADVISER Webinar: Elements of an Effective Recordkeeping Partnership

“According to panelist Sean Bjork, the president of Bjork Asset Management, the perfect number of recordkeepers for an adviser to work with is three to four. ... The panelists agreed that quality beats out quantity when it comes to recordkeeper relationships, noting the benefits of having one point of contact for multiple plans.”

PLANADVISER

Regulatory Action and Guidance

IRA Nonbank Trustees – Alternative Way to Meet Net Worth Requirement

“Now, with the guidance set forth in Notice 2026-32, effective May 21, 2026, broker-dealers have an alternative way to satisfy the IRS's net worth requirement.”

Groom Law Group