"The complaint had alleged the company violated ERISA by offering GE stock as an investment option for its 401(k) plan participants despite purportedly under-reserving for the liabilities of insurance subsidiaries by approximately $15 billion. The court rejected the plaintiff's argument that her allegations satisfied the standard for pleading a breach of the duty of prudence in this context[.]" [Varga v. General Electric Co., No. 20-1144 (2d Cir. Feb. 4, 2021; unpub.)] 
Goodwin Procter
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"The majority construed the broad phrase 'any final decision,' as referring to 'some kind of terminal event' and an agency action from which legal consequences will flow. The Court concluded that the Board's denial of the claimant's request to reopen his claim met those criteria[.]" [Salinas v. U.S. Railroad Retirement Board, No. 19-199 (S. Ct. Feb. 3, 2021)] 
Jackson Lewis P.C.
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"In a divided decision, the Supreme Court held that when the [Railroad Retirement Board] refuses to reopen a former railroad worker's prior benefit determination, that refusal can be reviewed by a court. The ruling represents another in a string of recent decisions rebuffing agencies' efforts to shield their decisions from judicial review." [Salinas v. U.S. Railroad Retirement Board, No. 19-199 (S. Ct. Feb. 3, 2021)] 
SCOTUSblog
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"Colorado saw a 54% reduction in participation over a five-year period when available plan providers were reduced from 55 to a single vendor. In California, the number of investment providers was also reduced, leading to a 56% reduction in plan participation among participants whose provider was no longer available." 
PLANSPONSOR; free registration may be required
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"[T]he best performing U.S. stock mutual funds in 2020 were actively managed.... Welcome to the age of disruptive innovation investing -- an occurrence that favors an active investment approach." 
Lawton Retirement Plan Consultants
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"Single-employer DB funding relief is tied to multiemployer DB funding reform and is only likely to be included in a coronavirus relief bill (or any bill) if multiemployer reform is included." 
Segal
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"In January, corporate pension funding improved by $39 billion thanks to a 16-point increase in the monthly discount rate, from December's 2.46% to 2.62% as of January 31.... [T]he funded status deficit dropped to $196 billion at month's end, the first time it has dipped below $200 billion in over a year." 
Milliman
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[Opinion]
" 'While some see this as a tax on the securities industry itself, it is actually a tax on working families saving for retirement and college, pension funds that secure retirement for millions, as well as many individual investors, foundations and endowments,' states the Feb. 4 letter to Gov. Andrew Cuomo (D), New York House Speaker Carl Heastie, and Senate Majority Leader Andrea Stewart-Cousins." 
American Retirement Association [ARA]
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"I have a DC plan terminating at end of its current fiscal year in June 2021. Any thoughts as to whether it needs to be restated before terminating? I am thinking that it may need to be." 
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