After a federal judge ruled that American Airlines violated its ERISA duties by focusing on ESG factors in choosing investments, a coalition of Democratic city and state officials sent letters to the SEC and DOL, urging them to protect ESG investing.
More than 600,000 American companies could be at risk of fines, legal penalties and fiduciary failure for failing to auto-enroll, offer qualified investments or transmit payments on time, according to Abernathy Daley 401k Consultants.
One key area to watch is tax policy, since President Trump has been a strong supporter of extending and even making permanent tax cuts, which could potentially affect overall 401(k) growth, says Colonial Surety’s Richard Clarke.
Daniel Aronowitz, an opponent of the strategy of "regulation through litigation," would become assistant secretary of Labor and the Employee Benefits Security Administration's chief.
The Labor Department has filed a motion to pause two federal court cases challenging the Retirement Security Rule, which was finalized last April and had been set to go into effect last September, but has been beset by lawsuits.