PODCAST: Importance of Investment Policy Statements
PODCAST: Recruiting and Retention: Can Your 401K Make a Difference?
In late 2022, the U.S. Department of Labor (the “DOL”) issued final regulations (the “Final Rules”) which address the extent to which ERISA fiduciaries may consider environmental, social and governance (“ESG”) factors when...more
A New York district court recently summarily dismissed, with prejudice, a 401(k) plan participant’s putative class action complaint alleging breaches of fiduciary duty. Falberg v. Goldman Sachs Grp., Inc., No. 19-cv-9910,...more
Seward and Kissel submitted a comment letter to the SEC in response to its request for comments on proposed amendments to the Names Rule....more
On August 1, the UK’s Financial Conduct Authority (“FCA”) published a policy statement on strengthening its financial promotion rules for high-risk investments and firms approving financial promotions (the “policy...more
To help employers properly administer their 401(k) plans, in 2022, Foley & Lardner LLP is authoring a series of monthly “401(k) Compliance Check” newsletters. This article discusses some of the policies that are important for...more
On May 25, the US Securities and Exchange Commission (SEC) proposed amendments to enhance and modernize Section 35(d) of the Investment Company Act, known as the “Names Rule,” to provide protection to investors.[1] In a press...more
If people pass on enough incorrect information out there, you start to believe it. When I worked at that semi-prestigious law firm (sorry, Lois), we had a litigation partner that everyone told me was excellent. Being a naïve...more
Cryptocurrencies are currently one of the hottest topics in the world, and for good reason. Bitcoin’s fluctuations over the past year – from $10,000 in July 2020 to $63,000 in April 2021 and now settled to around $41,000 –...more
The Acme Rocket Sled Company Retirement Plan Administration Committee recently selected a new investment advisor for the company’s 401(k) plan. During the RFP process, the new advisor observed that the Investment Policy...more
First, there was the call for an Investment Policy Statement (IPS). Then advisors were touting the need for an Education Policy Statement (EPS). What next? ...more
DeMoulas Super Markets settled for $17.5 million in a class-action lawsuit regarding its profit-sharing plan that didn’t have a 401(k) feature. The problem in the case was that the Super Market invested assets of the plan...more
In the movie Casino, Robert Deniro’s character Lefty Rosenthal warns Joe Pesci’s character Nicky Santoro that his actions will get him into the Gaming Control Board’s “Black Book”, which means he would be banned from all...more
Great 401(k) Participant Features That Can Land You In Plan Sponsor Hot Water. It can get you in a bad spot. A 401(k) plan is one of the great employee benefits. Within a 401(k) Plan, some options are truly beneficial to...more
In the good old days of participant-directed 401(k) plans, a good chunk of financial advisors did very little work for the plans that they advised. Many of them sat back, collected their trail or asset-based fee, and maybe...more
On this episode of Williams Mullen's Benefits Companion, Brydon DeWitt is joined once again by special guest Beryl Ball, a senior vice president and financial advisor at CAPTRUST. Brydon and Beryl discuss the importance of...more
On this joint edition of Williams Mullen's Benefits Companion and GovCon Perspectives podcasts, Brydon DeWitt is joined by special guest Carl Grund, a financial advisor with Signature Financial Partners in Tysons, Va. Brydon...more
On 28 June 2018, the National Development and Reform Commission and the Ministry of Commerce released the Foreign Investment Market Access Special Administrative Measures (Negative List) (2018 Version), which will become...more
On April 23, 2018, the U.S. Department of Labor (the “DOL”) released Field Assistance Bulletin No. 2018-01 (“FAB 2018-01”) which provides guidance regarding (1) the exercise of shareholder rights and written statements of...more
On April 23, 2018, the Department of Labor (“DOL”) issued Field Assistance Bulletin No. 2018-01 (“FAB”), which clarifies Interpretive Bulletin 2015-01 (relating to a benefit plan selecting investments to promote social policy...more
The Employee Benefits Security Administration (EBSA) published Interpretive Bulletin (IB) 2016-1 on Dec. 29, 2016, relating to the exercise of shareholder rights and written statements of investment policy, including proxy...more
Health system employers should make sure they are familiar with three key employee benefit issues: (1) the new Department of Labor (DOL) fiduciary rule that currently becomes effective April 10, 2017 (but may be delayed in...more
On December 29, 2016, the U.S. Department of Labor (the “DOL”) released Interpretive Bulletin 2016-1 (“IB 2016-1”) relating to the voting of proxies on securities held in employee benefit plans. IB 2016-1 withdraws the...more