Defined Contribution

The online trading firm has agreed to settle the Securities and Exchange Commission fines, related to 10 violations, including failures to report suspicious activity in a timely manner, implement adequate identity theft protections and provide "blue sheet data" to the SEC.

A federal judge has dismissed – for the second time – a lawsuit against Bechtel Global that alleged the $5.7 billion plan's default managed account investment led to excessive fees and subpar returns, arguing that a target date fund would have been a better alternative.

Last week, BlackRock dropped out of the United Nations-backed climate change investing initiative, which was followed by NZAM suspending its activities on Monday because of "recent developments … in investors' respective jurisdictions," according to its website.

The Department of Labor will not take action, under ERISA, against plan fiduciaries that transfer entire benefit payments owed to missing participants of $1,000 or less if certain conditions are met.

On Monday, President Biden cancelled student loan debt for borrowers who attended schools that defrauded students, those with permanent disabilities and public service workers, bringing his total cancellation to $183 billion.

A federal judge in Texas ruled that American Airlines violated its ERISA duties by not focusing "on the best financial benefit" for its 401(k) plan, in the biggest victory yet in a case involving ESG investing.