United States: Retirement, Superannuation & Pensions

A coalition of business and benefits groups has filed an amicus brief with the Fourth Circuit Court of Appeals, urging the court to uphold the dismissal of a lawsuit challenging Northrop Grumman's use of forfeited 401(k) funds. The case centers on whether employers can legally use these forfeitures to offset their own plan contributions rather than reduce participant administrative fees, a practice the groups argue has long been sanctioned by federal regulations.

The U.S. Supreme Court heard oral arguments in Anderson v. Intel Corp. Investment Policy Committee, examining whether ERISA plaintiffs must plead a "meaningful benchmark" when alleging imprudent selection of underperforming retirement plan funds. The Justices' questions suggest they may endorse this requirement while providing guidance on what constitutes a meaningful comparator for evaluating fund performance.

A Missouri federal district court judge dismissed a proposed class action lawsuit by a former partner at Husch Blackwell LLP alleging mismanagement and the illegal withholding of contributions to the firm’s 401(k) plan. The judge based his ruling on the plaintiff’s inability to show that year-end profit-sharing contributions were plan assets before the firm deposited them into his plan account, which left him unable to prove any violations of federal benefits law.

ERISA fiduciaries must navigate complex legal requirements when administering health and retirement plans, often requiring expert guidance. Understanding the proper safeguards and requirements for relying on expert advice is crucial to defending against breach of duty claims while ensuring plan participants receive their entitled benefits.

Section 103 of the SECURE Act 2.0 introduces the Saver's Match program, replacing the federal Saver's Credit with direct government contributions to retirement accounts. IRS Notice 2026-48 outlines how this new matching contribution system will operate and addresses critical implementation questions for plan sponsors considering whether to accept these federal contributions.

The Treasury Department and IRS have introduced a new standardized framework for direct rollovers between retirement plans and IRAs, featuring a five-step process with sample forms designed to simplify what has historically been a fragmented and paper-heavy system. While adoption remains voluntary and no formal safe harbor exists yet, this initiative addresses longstanding inefficiencies in rollover procedures that have caused participant confusion and delays.

The Department of Health and Human Services recently settled with Spencer Gifts following a 2021 ransomware attack that exposed employee health plan information, demonstrating that HIPAA compliance extends beyond traditional healthcare providers. Employer health plans are covered entities under HIPAA, requiring comprehensive risk assessments, security policies, and workforce training—obligations that many non-healthcare organizations may not realize apply to them.

Host Michael Clear sits down with Andi Hughes from TrustHouse to explore how concierge home care services create comprehensive support systems for families facing cognitive decline, chronic illness, and behavioral health challenges. The discussion reveals strategies for building effective care teams and preventing caregiver burnout while maintaining dignity and independence. Learn how proactive planning and coordinated care can transform the experience of aging in place and managing complex health transitio

Memorial Hermann Health System, a Texas nonprofit hospital system, has settled a suit under the Employee Retirement Income Security Act (ERISA) relating to 401(k) plan fees and fund choices.