News & Analysis as of

Retirement Plan Employee Retirement Income Security Act Employee Benefits

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

Calculating Maximum Participant Loan Amounts

Most of us have struggled with the obtuse calculations required to determine maximum participant loan amounts. Perhaps in the future robotic AI Human Resource managers will not have this problem, but until then we all seem to...more

Department of Labor Secretary Acosta Announces Partial Implementation of the Fiduciary Rule

On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more

Don’t gyp employees on retirement plans

by Ary Rosenbaum on

As I’ve stated before, I wouldn’t hire employees because I was an employee once too. That pretty much means that I never met an employee whoever thought they were overpaid. For that matter, I never met an employer who thought...more

Finally in Play: A Refresher on the Fiduciary Rule for Plan Sponsors

by Akerman LLP - HR Defense on

On the heels of Labor Secretary Alexander Acosta’s announcement that the Department of Labor’s oft-delayed “Fiduciary Rule” would finally take effect on June 9th, Congressmen introduced new legislation on June 8th to overturn...more

The DOL’s Fiduciary Rule Takes Effect Without Further Delay

The Secretary of Labor, John Acosta, announced recently that no further delays will apply to the Department of Labor’s new Fiduciary Rule on investment advice conflicts of interest and related prohibited transaction...more

DOL Fiduciary Rule Still a Go for June 9, but its Future Remains Uncertain

by Littler on

United States Department of Labor (“DOL”) Secretary Alexander Acosta recently announced that the final DOL fiduciary regulations (the “Fiduciary Rule”) will go into effect on June 9, 2017. In an op-ed in the Wall Street...more

Fiduciary-Rule Litigation Moves to Court of Public Opinion

by Burr & Forman on

Last week Labor Secretary Acosta chose a Wall Street Journal op-ed to announce DOL’s decision not to delay the “fiduciary rule” past the once-extended June 9 effective date....more

The Department of Labor Confirms June 9th as the Effective Date of the Fiduciary Rule: What Employers Need to Know Now

by Dickinson Wright on

On May 22, 2017, Secretary of Labor Jim Acosta announced that, after having been delayed 60 days, the Department of Labor’s (“DOL”) Conflict of Interest Rule (“Fiduciary Rule”) will largely apply on June 9, 2017. At that...more

SEC Returns to the Fiduciary-Rule Arena

by Burr & Forman on

On June 1, new SEC Chair Clayton returned the SEC to the arena in the policy debate surrounding the DOL’s Fiduciary Rule. Clayton’s public statement responded to a direct invitation for SEC participation by DOL Secretary...more

Department of Labor Secretary Acosta Announces Partial Implementation of the Fiduciary Rule

by Robinson & Cole LLP on

On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more

DOL Won't Delay Fiduciary Rule Past June 9

by Burr & Forman on

Finally, there’s voice of reason entering the policy harangue over the Department of Labor’s Fiduciary Rule … even if it’s coming through an unusual outlet. In a May 23 Wall Street Journal opinion piece, new Labor Secretary...more

No Additional Delay on Effective Date of New Fiduciary Standards – DOL

This week, new U.S. Department of Labor Secretary Acosta announced that the final fiduciary regulations would go into effect on June 9, 2017. The Department also issued two pieces of guidance with regard to the regulations...more

Portions Of The DOL Fiduciary Rule To Go Forward On June 9, 2017

by SmithAmundsen LLC on

Secretary of Labor Alexander Acosta announced on Monday that portions of the controversial Department of Labor (DOL) fiduciary rule will go into effect as planned on June 9, 2017, with full implementation of the rule on...more

Will The Fiduciary Rule Live on Even if it is Repealed?

by Burr & Forman on

The Department of Labor fiduciary rule was supposed to be implemented on April 10, 2017. That date was pushed back to June 9 so that it could be reassessed, and possibly modified or even repealed. The rule as it stands...more

Senate Votes to Revoke Department of Labor Guidance on State-Run Retirement Plans for Private Sector Employees

by Franczek Radelet P.C. on

In yet another move to roll-back regulatory guidance issued during the Obama administration, earlier this month the U.S. Senate voted to revoke a final rule and associated interpretive guidance that the Department of Labor...more

Breach of Fiduciary Duty Case Against University Retirement Plan Fiduciaries Survives Motion to Dismiss

by Ballard Spahr LLP on

A plaintiffs' class action law firm in St. Louis made national headlines last August when it filed a series of breach of fiduciary duty lawsuits under ERISA, the federal employee benefits law, against the fiduciaries of...more

Eighth Circuit Jimmies The Lid On Pandora’s Box

by Seyfarth Shaw LLP on

Seyfarth Synopsis: In an opinion that may result in increasingly complex ERISA benefits litigation, the Eighth Circuit has allowed a breach of fiduciary duty claim premised on alleged faulty claims handling practices to...more

DOL's Fiduciary Rule Delay an Excellent Opportunity to Negotiate Stronger Indemnities

The DOL's fiduciary rule has been delayed. This delay, and the confusion swirling around if and when the DOL fiduciary rule will become applicable, is giving plan sponsors a window of time to renegotiate their contractual...more

Fiduciary Rule Delayed 60 Days - DOL delays application of Fiduciary rule. ERISA plan fiduciaries and service providers struggle...

On April 7, 2017, the Department of Labor (DOL) published a final rule delaying the applicability date of the “Fiduciary” rule and certain “Prohibited Transaction Exemption” rules (the Rules) for 60 days from April 10, 2017...more

Company Liable for Not Providing Accurate Information about Benefits

by Dickinson Wright on

A recent court case, Erwood vs Life Insurance Company of North America, is a reminder that plan sponsors must understand the terms of their welfare and retirement benefit plans, and ensure that their staff follows the...more

DOL Continues Investigating Defined Benefit Plans Regarding Procedures for Locating Participants and Paying Benefits at Mandatory...

by Jackson Lewis P.C. on

The U.S. Department of Labor (DOL) publicized last year its stepped up enforcement efforts inquiring about procedures used by larger defined benefit plans for locating, and then beginning payment of benefits to, terminated...more

DOL’s Fiduciary Rule: On the Road to More Change?

by Burns & Levinson LLP on

The latest chapter in the 6-1/2 year history of the Department of Labor (DOL) final Fiduciary Rule is a 60-day delay of part of the final regulations, and a delay until January 1, 2018 for certain disclosures and other...more

DOL Issues Final Rule Delaying Fiduciary Rule until June 9, 2017

by Robinson & Cole LLP on

As ordered by President Trump in a presidential memorandum on February 3, 2017, (Memorandum), the U.S. Department of Labor (DOL) proposed a 60-day delay to its conflict of interest rule (commonly referred to as the “fiduciary...more

DOL Fiduciary Rule Officially Delayed

by Seyfarth Shaw LLP on

On April 4, 2017, the Department of Labor (“DOL”) issued a final rule extending by 60 days the applicability date of the final “fiduciary” regulation published a year ago (known colloquially as the “Fiduciary Rule”)....more

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