Reporting

The Trump administration is rescinding 2022 US Labor Department guidance that discouraged workplace 401(k) cryptocurrency investing. The Biden-era guidance cautioned companies to exercise “extreme care” before adding crypto to their employees’ investment menus. That stance departed from the neutral approach the DOL’s Employee Benefits Security Administration is required to take by law, the agency said in a statement Wednesday. The 2022 guidance threatened an “investigative pr

The US Labor Department has released a closely watched rule that will expand strict fiduciary standards of conduct to cover more retirement plan advisers, and has already drawn ire from Wall Street. The rule from the DOL’s Employee Benefits Security Administration could equip regulators with more power to oversee Wall Street heavy hitters and require companies to comply with expensive disclosure exemptions. EBSA will release the regulation on its website Tuesday following mon

Boeing Co. workers are doubling down on reviving their legacy pensions, rejecting a labor deal with generous pay packages even as similar union efforts to restore those retirement benefits have failed. Two rounds of negotiations with the International Association of Machinists and Aerospace Workers to end a five-week strike have resulted only in offers to boost worker 401(k)s, signaling restoration of pensions axed a decade ago may be more of a bargaining chip than a viable r

Employers can soon choose to let workers’ student loan repayments count toward 401(k) matching contributions under a recently enacted benefits law, but many are wary of taking that step while so much is unsettled with federal loan forgiveness programs. The program, part of the SECURE 2.0 Act (Public Law 117-328), was designed to address concerns that too many workers burdened with student debt are funneling money to their loan service providers instead of their 401(k)s, missi