The class action calls out the plan's fees for investments, record keeping and financial advice.
The case shows California is paying attention to annuity recommendations made through RIAs, and other state insurance departments could follow its lead. The settlement could also lead insurers and licensed third parties that work with RIAs to scrutinize recommendations more carefully, if they don't already vet them closely.
Just over a third of companies that have high-deductible health plans automatically enroll workers covered by those plans into HSAs, the report from PSCA notes. About 15% of those enrolled in eligible plans do not participate in HSAs.
The climate change report had stark findings and comes amid a severe drought in the American West and one of the worst wildfire seasons in California’s history.
The effort, WA Cares, is the first of its kind in the US and could serve as a model for other states.
Connecticut is among 11 states and cities that have enacted auto-IRA legislation, and it will be one of the few to go live.
The list will help employers avoid lawsuits related to their retirement plans, according to the group that built it.
Being in debt can be the difference between scraping by and struggling, and people recognize the relationship between finances and health, surveys show.
A man was sentenced for helping steal nearly $1 million from participants in the Employees Retirement System of Texas, a development that occurs as the DOL is ramping up efforts to boost cybersecurity in retirement plans.
In a letter to Labor Secretary Marty Walsh, Democrats asked for an update on the DOL’s rule proposals on ESG criteria. Last year, the Trump administration DOL finalized two rules that tamped down on use of so-called nonpecuniary factors in investment selection.
