As in numerous other lawsuits, plaintiffs allege a breach of fiduciary duty over how the company used 401(k) company contributions for workers who left before they were fully vested.
"Whatever we decide, someone's going to be potentially unfairly treated," Justice Sonia Sotomayor said during oral arguments Wednesday.
While promising to halt offshore wind projects, open up wild lands for drilling, and cull incentives for electric vehicles, Trump's first round of actions may not necessarily boost energy companies or hold back renewables, observers said.
Provisions of the Secure 2.0 Act took effect Jan. 1, but regulators only last week proposed rules to govern new automatic enrollment requirements for 401(k)s and other plans, as well as new quirks for catch-up contributions.
With small 401(k)s launching at a fast rate across the country, the company sees a lot of business potential, particularly through financial advisors.
Plaintiffs successfully sued American Airlines over an asset manager's ESG considerations in the proxy-voting process, and that could get the plaintiffs' bar quite interested in filing similar claims against 401(k) sponsors.
Financial professionals near Malibu sought to ensure people had reached safety as major fires devastated parts of Los Angeles. With almost no containment for the fires as of Tuesday, the idea of rebuilding is far away, and it will be complicated by a lack of insurance.
Six US banks have exited the UN-convened Net-Zero Banking Alliance since December, ahead of President-elect Donald Trump regaining office.
Private equity is illiquid, hard to value, and expensive. Yet it could be useful within target-date funds, and the industry may be lobbying the Trump administration to get into the 401(k) market meaningfully.
A $5.9 billion pension liabilities transfer Verizon made last year to Prudential and RGA is at the center of the latest lawsuit over pension-risk transfers.
