On March 31, 2025, the Trump administration initiated a “comprehensive review of federal contracts and grants at Harvard University and its affiliates” by the Joint Task Force to Combat Anti-Semitism (Task Force) to ensure that Harvard is “in compliance with federal regulations, including its civil rights responsibilities.” Later that same day, Alan Garber, Harvard’s President, emailed a statement to the Harvard community expressing an intent to engage with the Task Force.

Amid a recent resurgence in litigation targeting pension risk transfer (PRT) transactions, plan sponsors and fiduciaries should take extra care in selecting annuity providers to ensure compliance with fiduciary duties. Read on for a summary of recent developments and insights.   

On April 8, 2025, President Trump signed the “Regulatory Relief for Certain Stationary Sources to Promote American Energy” Proclamation (the “Proclamation”) extending the compliance deadline for certain stationary sources, such as coal-fired power plants, that are subject to the National Emission Standards for Hazardous Air Pollutants: Coal- and Oil-Fired Electric Utility Steam Generating Units, 89 FR 38508 (the “Rule”) that was promulgated in 2024.