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Employee Retirement Income Security Act The United States Department of Labor

Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.... more +
Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.  ERISA requires plans to provide information to participants, establishes a grievance process,  and allows participants to sue for benefits or breach of fiduciary duties.  less -

DOL Fiduciary Rule Status Update for Fraternal Benefit Societies

by Stinson Leonard Street on

In papers filed as part of a lawsuit in the U.S. District Court for the District of Minnesota, the Department of Labor (DOL) has stated that they are considering a further delay of the effective date for full implementation...more

DOL May Delay Implementation of Fiduciary Rule

by Liskow & Lewis on

The Department of Labor in a brief filed in a Minnesota lawsuit on August 9, 2017 revealed that DOL had submitted to the Office of Management and Budget a proposal to delay the implementation of remaining parts of the DOL...more

Sign of Future Changes? DOL Proposes 18-Month Extension of Transition Period for Compliance With ERISA "Fiduciary Investment...

On August 9, the US Department of Labor (DOL) announced in a court filing that it has proposed an 18-month extension of the full implementation of the Best Interest Contract Exemption (the "BIC Exemption") under the ERISA...more

DOL Issues Additional Fiduciary Rule Transition FAQs

by Morgan Lewis on

The Department of Labor ties up a few loose ends with FAQS regarding the fiduciary rule....more

DOL Seeks to Extend Transition Period under the Fiduciary Rule

by Robinson & Cole LLP on

The U.S. Department of Labor (DOL) has filed a proposal with the Office of Management and Budget (OMB) to delay implementation of the following exemptions under the fiduciary rule from January 1, 2018 to July 1,...more

Drip Drip Drip - Is the DOL's Fiduciary Rule Slowly Going Down the Drain?

by Dechert LLP on

The U.S. Department of Labor (the “DOL”) today (August 9, 2017) submitted a Notice of Administrative Action in the Thrivent v. Acosta litigation (D. Minn.). The Notice relates to the final regulation that defines who is a...more

DOL Seeks Further Delay of ‘Fiduciary Rule’ Exemptions

by Shearman & Sterling LLP on

On August 9, 2017, the Department of Labor notified the District Court of Minnesota that it had submitted to the Office of Management and Budget amendments that would delay until July 1, 2019 the applicability of three...more

DOL Extends Fiduciary Rule Transition Period, Issues FAQs on Fee Disclosures

Transition Period Extension - In an August 9th court filing, the DOL announced it will extend the transition period for three prohibited transaction exemptions relating to the fiduciary investment advice rule (the...more

The Final Rule: DOL Issues Fourth Set of FAQs

On August 3, 2017, the Department of Labor (DOL) released a fourth set of FAQs related to its new “investment advice” fiduciary definition and related exemptions (Final Rule), which became applicable on June 9. Like the May ...more

New Disability Regulations: Wait-and-See or Move Forward?

On December 19, 2016, the DOL issued final regulations modifying the claims procedures for adverse determinations relating to disability claims under ERISA. Most of the changes mirror the additional disclosure requirements...more

Getting into trouble with the DOL and the IRS maybe just bad luck

by Ary Rosenbaum on

As an ERISA attorney for almost 19 years, I have seen a lot of strange things that plan sponsors have done to risk the ire of the Internal Revenue Service (IRS) and the Department of Labor (DOL)...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation - Q&A on IRA Transactions

by Carlton Fields on

Previously, I wrote about potential litigation under the Department of Labor’s then proposed fiduciary rule (see Expect Focus, Vol. II, 2015). I predicted the following as to sales of index annuities to IRAs if the rule was...more

Life with Conflict of Interest Starting to be Implemented and Retirement Plan Update

by Winstead PC on

Fee Changes and Disclosures Post Conflict of Interest Regulations Initial Partial Effective Date - The effects of the U.S. Department of Labor’s (“DoL”) conflict of interest or fiduciary regulation and related prohibited...more

Pension Plan Sponsors – When “De-Risking”, Select Annuity Providers With Care

by Foley & Lardner LLP on

Employer-sponsored retirement plans come in many varieties. For example, under 401(k) and other defined contribution plans, employees and, often, employers may make specific contributions to an employee’s plan account...more

OregonSaves: New State-Run Retirement Plan Requires Employer Action Beginning November 15, 2017

by Davis Wright Tremaine LLP on

Are you an employer with employees in Oregon? If you do not offer a retirement plan to any of your employees, read on for your obligations under a new state-run retirement savings program called OregonSaves. If you do...more

Court Rules That Company Discretionary Offer Of Voluntary Separation Agreements Does Not Create An ERISA-Covered Severance Plan

by Jackson Lewis P.C. on

It always has been difficult to give a consistent answer as to whether informal severance arrangements have created an ERISA-covered severance plan. In Mance v. Quest Diagnostics Inc., 2017 WL 684711 (DC NJ 2017), the U.S....more

Labor Department’s Fiduciary Rule Impacts Investment Managers

by McGuireWoods LLP on

The fiduciary rule issued by the Department of Labor (DOL) is one of the major developments in employee benefits law in recent years. The rule aims to reduce and regulate conflicts of interest related to paid investment...more

An Update On The DOL’s Fiduciary Rule

by Jackson Lewis P.C. on

The DOL’s much anticipated (or maligned depending on the audience) Fiduciary Rule expands the definition of what constitutes investment advice under ERISA and thereby increases the number and types of retirement plan service...more

Chipping Away - Does the DOL's Fiduciary Rule Continue to Be on the Chopping Block?

by Dechert LLP on

The U.S. Department of Labor (the “DOL”) published in the Federal Register on July 6, 2017 a Request for Information (the “RFI”) regarding the final regulation defining who is a “fiduciary” of an employee benefit plan as a...more

ERISA Newsletter - Second Quarter 2017

by Proskauer Rose LLP on

Editor's Overview - Welcome once again to Proskauer's newly revamped ERISA Newsletter. As a reminder, readers can obtain the information in this Newsletter as it is published on our blog. Our featured article this...more

June 2017: The Top 15 Labor And Employment Law Stories

by Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While it always seems to evolve at a rapid pace, the last few months have seen an unprecedented number of changes. June 2017 was no different, with...more

DOL Asks Public for More Input on Fiduciary Rule and Exemptions

by McGuireWoods LLP on

Last week, the Department of Labor (DOL) issued a request for information (RFI) in the form of 18 questions regarding its fiduciary rule and related prohibited transaction exemptions (PTEs). The RFI was issued approximately...more

FAQs for Fund Managers Related to DOL’S Fiduciary Rule which Became Partially Effective June 9, 2017

As stated in our May 25, 2017 Executive Compensation, Employee Benefits and ERISA Alert, the Department of Labor’s (DOL’s) new fiduciary rule (“Fiduciary Rule”) became partially applicable on June 9, 2017. Set forth below are...more

Employee Benefits Developments - June 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of June, 2017. Click through the links below for more information on each specific development or case....more

Calendar Year Plans Need to File Form 5500 by Monday, July 31, 2017

by FordHarrison on

Executive Summary: The Form 5500 is an annual report that must be filed for every employee benefit plan that covers 100 or more participants. For calendar year plans, these forms must be filed by July 31, 2017....more

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