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A federal judge dismisses ERISA lawsuit against Nestle USA Inc.
A recent ERISA lawsuit filed against Nestle USA Inc. and its fiduciaries, alleging mismanagement of a 401(k) plan, has been dismissed by a federal judge. This decision highlights the importance of fiduciary responsibility and serves as a reminder for employers and plan sponsors to diligently monitor their retirement plans.
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Justices considering revision of Supreme Court doctrine on court and regulator roles
The Supreme Court is currently deliberating whether to revise a 1984 doctrine that governs the balance of power between courts and regulators in interpreting laws. This decision has significant implications for the interpretation of retirement and investment regulations, potentially shaping future legal battles and industry practices.
- Department of Labor issues guidance for emergency savings accounts
The Department of Labor has released guidance for plan sponsors and participants on establishing, maintaining, and utilizing emergency savings accounts. This guidance aims to encourage individuals to prepare for unexpected financial emergencies and to supplement retirement savings with dedicated emergency funds.
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4. BlackRock reports 17% growth in long-term assets under management
BlackRock, a leading investment management firm, has recorded a 17% increase in long-term assets under management (AUM) excluding cash, reaching an impressive $9.24 trillion. This growth underscores the importance of long-term investment strategies and highlights BlackRock's continued success in the industry.
- Morgan Stanley Investment Management to launch actively managed Eaton Vance ETF
Morgan Stanley Investment Management has announced plans to introduce an actively managed ETF in collaboration with Eaton Vance. This ETF will focus on investing in floating-rate debt, providing investors with an opportunity to diversify their portfolios and potentially mitigate interest rate risks.
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6. Chip Castille joins Wilshire as head of product strategy
Chip Castille, an industry veteran, has joined Wilshire as the consulting firm's head of product strategy. With his extensive experience and expertise, Castille is expected to play a crucial role in shaping Wilshire's investment offerings and strategies.
- Danish pension fund P+ divests from Chinese solar panel manufacturers
Due to concerns about potential links to forced labor activities, Danish pension fund P+ has decided to pull its investments from Chinese solar panel manufacturers. This move reflects a growing trend among institutional investors to consider environmental, social, and governance factors in their investment decisions.
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8. Reflection on accomplishments and outlook for the new year
As a new year begins, it is essential to reflect on past accomplishments and set goals for the future. This article explores the sentiments of gratitude, hope, enthusiasm, and curiosity that often accompany the start of a new year, providing readers with inspiration and motivation for their financial journeys.
- MedStar Health to settle ERISA lawsuit for $11.8 million
MedStar Health Inc. has agreed to pay $11.8 million to settle a lawsuit accusing the company and its fiduciaries of violating ERISA through mismanagement. This case highlights the legal and financial risks faced by employers and fiduciaries when managing retirement plans.
