In a class action lawsuit, the former employee alleges that 37% of his retirement savings were invested in BlackRock's Target Date 2045 fund, which uses ESG considerations.
One notable change from last year is increased utilization because of delayed preventive or elective care during the pandemic, which declined from 12% to 4%.
After a lot of pushback from employers and retirement industry organizations on a key SECURE 2.0 catch-up contribution change for higher-income employees, the IRS announced an "administrative transition period."
Attorney Glenn Moses attributes the uptick to "...a more conservative approach by banks in their lending practices – causing liquidity issues for business which often results in a bankruptcy filing."
The lawsuit was brought by a former employee, who oversaw Twitter's benefits program, on behalf of thousands of employees who were laid off after Elon Musk acquired the company late last year.
