Retirement

Forfeiture cases are no longer nuisance lawsuits, as top law firm Schlichter Bogard, which has been representing many plaintiffs in recent 401(k) excessive fee lawsuits, is representing the telecommunications company’s participant-plaintiffs.

In addition, 90% of all nonprofit employees are eligible to participate in plans, a survey high, and likely expanded due to another SECURE 2.0 provision allowing long-term, part-time employees to participate, according to a PSCA survey.

The lawsuit, like many 401(k) lawsuits filed by employees over the last year, challenged HP’s decision to use “forfeitures” to reduce employer contributions rather than to pay administrative costs.

The Retirement Fairness for Charities and Educational Institutions Act of 2025 is the latest attempt to pass CIT legislation, however, this time the Investment Company Institute and the Insured Retirement Institute are getting behind the effort.

A group of 17 Republican state attorneys general are demanding answers from top asset managers, who they say are misleading investors and retirement plan fiduciaries by omitting “essential disclosures for funds that include Chinese investments,” according to the AG letter.

The Retirement Fairness for Charities and Educational Institutions Act of 2025 is the latest attempt to pass CIT legislation to allow these tax-exempt pooled investment funds, which are an investment option in 401(k)s, into 403(b) plans.

Senator Bill Cassidy, along with 26 colleagues, is calling for the “immediate implementation” of the new Social Security law, after SSA announced payments to public workers could take “more than 1 year.”

Senators Jack Reed and Sheldon Whitehouse, who co-sponsored the new federal law, are calling on the Trump administration to expedite its implementation, following the SSA’s announcement that it could take “more than 1 year” to make payments to public service retirees.