Ex-employees are suing Verizon as well as State Street Global Advisors, which served as the “independent fiduciary” in putting the deal together to manage the pensions of 56,000 retirees.
The online retailer has been hit with a class action lawsuit, alleging it violated its ERISA fiduciary duties by using forfeited 401(k) funds to offset the company's own contributions instead of reducing administrative fees for over 20,000 participants.
Brad O'Neill, the co-owner of the ICHRA Shop Insurance Agency, thinks adding multilingual enrollment support will improve participation in the programs.
Employers with five or more employees who do not currently offer a retirement plan will be required to register for the state-run Vermont Saves program by the end of February 2025.