Defined Contribution

This week, the Department of Education began alerting around 195,000 defaulted borrowers that their federal benefits will be subject to garnishment in 30 days.

Thirty-three percent of American workers said they have made a decision that negatively impacts their retirement readiness, such as reducing or eliminating 401(k) contributions.

The health organization’s class action lawsuit, filed by an employee alleging the company used forfeited plan funds from departing employees to pay administrative expenses was dismissed, after a federal judge found no fiduciary breach.

Representing 16,000 employees, a former participant in the retirement plan filed a class action lawsuit, alleging the plan’s target date funds from American Century Investments should have been replaced.

Despite strong opposition from Democrats who voiced concerns over his relationship with DOGE officials prior to confirmation, the Fiserv CEO will become the 18th commissioner of the SSA.

On Friday, 26,000 bank employees and retirees reached a settlement with Pentegra over prohibited transactions in their class action lawsuit, just nine days after a rare jury trial awarded them $38,760,232 over excessive fees.

The ongoing battle over the use of environmental, social and governance factors when making investing decisions for retirement plans continues, as Representative Rick Allen reintroduces new anti-ESG legislation.

The Retirement Savings for Americans Act, which is supported by Charles Schwab and the National Economic Council, was reintroduced in the Senate by Sen. John Hickenlooper.