CIEBA in the Media/Comment Letters
3 CIEBA Members (Jean Grisi, CIO of Nokia, Kathy Lutito, CIO of Lumen, & Dekia Scott, CIO of Southern Company) recognized in Pensions & Investments’ 60 Influential Women in Institutional Investing 2024!
CIEBA in the News:
During an episode of PGIM’s “The Outthinking Investor” podcast, Dennis Simmons, Executive Director of CIEBA, discussed the important role government policy has played in shaping the current retirement savings system and more...
Litigation Update:
CIEBA recently filed a brief to ask the US Supreme Court to review a case dealing with the standards to bring a valid ERISA claim. CIEBA Executive Director, Dennis Simmons spoke to several reporters about the brief:
"[Plan sponsors have] been dragged into court to defend what are oftentimes frivolous claims by lawyers looking to extract quick settlements," he said. "At some point, you might see companies simply throw up their hands and stop offering plans to begin with."
CIEBA in P&I: DOL removes potential requirement for plans to renegotiate QPAM agreements
CIEBA Executive Director, Dennis Simmons, recently spoke with Pensions & Investments Magazine about CIEBA’s engagement with the DOL on their proposed changes to the Qualified Professional Asset Manager (QPAM) rules. In a change from a 2022 DOL proposal and as CIEBA recommended in public testimony, the DOL’s final rule issued on April 2, 2024, removed a requirement that would have potentially required plans to renegotiate agreements with many of their investment managers.
CIEBA Testifies During DOL Hearing on Proposed Amendments to QPAM Exemption
On November 17, the Department of Labor held a hearing on proposed amendments to the Qualified Professional Asset Manager (QPAM) prohibited transaction exemption. After introductory comments on the topic from the new Assistant Secretary of Labor, Lisa Gomez (top left), CIEBA testified about our major concerns with the DOL’s proposed amendments to the QPAM exemption. Robin Diamonte, CIO of Raytheon; Kevin Walsh, Principal at Groom Law Group; and Dennis Simmons, Executive Director of CIEBA, discussed concerns with the proposed amendments hampering pension investment fiduciaries' reliance on the QPAM exemption.
CIEBA Testifies for Greater ERISA Investment Transaction Flexibility
