The California Employment Development Department (EDD) has released the 2024 Voluntary Plan Employee Contribution and Benefit Rate. Employers with employees located in California are generally required to withhold and send...more
The California Employment Development Department (EDD) has released the Voluntary Plan Employee Contribution and Benefit Rates for 2023. Employers with employees located in California are generally required to withhold and...more
A New York federal court recently held that a service provider for employer-sponsored retirement plans was not liable as a fiduciary under the Employee Retirement Income Security Act (“ERISA”) when it used participant...more
In 2016 California passed legislation that employers who do not sponsor an employee-retirement plan must participate in a state-run retirement program. This program became known as CalSavers....more
On June 21, 2022, CommonSpirit Health defeated a putative class action brought by former employees who alleged that the company mismanaged their 401(k) plan by offering higher-cost, actively managed investment options when...more
With an alarming number of American workers lacking adequate retirement savings, California and a handful of other states began implementing state-sponsored retirement savings programs. The CalSavers Retirement Savings...more
Northrop Grumman has agreed to pay $12,375,000 to settle a class action brought under the Employee Retirement Income Security Act (“ERISA”) by participants in its 401(k) plan. The parties reached the initial terms of this...more