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Citibank's Diverse Asset Manager Program has received approval from the DOL to offer guidance to other firms if they wish to pursue DEI initiatives while working with service providers in ERISA-compliant retirement plans.

"Prolonged investigations" create "tremendous strain on retirement plan sponsors" and negatively impact retirement savers, wrote House Republicans in a letter sent to Acting Secretary of Labor Julie Su.

Employee Fiduciary, a small business retirement plan advisory, called on the DOL to make fees more transparent for plan participants, in response to a feedback request on its new SECURE 2.0 Reporting and Disclosure requirements.

Sen. Bill Cassidy and Rep. Virginia Foxx sent a letter to Acting Labor Secretary Julie Su to "cease further action" on a new fiduciary rule, which has "created unnecessary instability for retirement plans."

From emergency savings accounts to annual funding notices, the Department of Labor is welcoming input from plan sponsors on changes or revisions to retirement plan administration included in the sweeping new legislation.

As employers and their advisors are gearing up for 2024 open enrollment, major mental parity changes are looming on the horizon.

The new retirement law expands the IRS' Employee Plans Compliance Resolution System, so now's a good time for plan sponsors to get their ducks in a row, according to this employment law and benefits attorney.

The software provider was accused of mismanaging its profit-sharing 401(k) plan and failing to fulfill its fiduciary duties by diversifying the plan's assets, which resulted in significant losses, according to the Labor Department.