News & Analysis as of

Retirement Plan Fiduciary Duty Employee Benefits Security Administration

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Fiduciary Rule revamp begins, all over again

It looks like we may see a new fiduciary proposal this August, said the Department of Labor (DOL) in its Spring Regulatory Agenda. As Yogi Berra would say: “It’s de ja vu all over again.”...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL proposes VFCP self-correction

The Department of Labor’s Employee Benefits Security Administration (EBSA) proposed updates to their Voluntary Fiduciary Compliance Program (VFCP), which would allow a self-correction component. The EBSA proposal includes a...more

Lathrop GPM

Cryptocurrency as a 401(K) Plan Investment Option

Lathrop GPM on

Fidelity Investments recently announced it is making a Bitcoin account available as an investment option for 401(k) plans, fueling a debate about cryptocurrencies and fiduciary responsibilities under ERISA. In what might...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - February 2022

The February Monthly Minute examines the DOL’s recent focus on mental health parity compliance, the Hughes vs. Northwestern University retirement plan fee litigation, and the latest COVID-19 testing coverage guidance....more

Morgan Lewis - ML Benefits

EBSA Enforcement Statistics for FY 2021: Growing Focus on Service Providers, Health & Welfare Plans

At the end of each fiscal year, the US Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) compiles the monetary results it obtained through various initiatives meant to ensure compliance with the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL to expand on new fiduciary rule

Revising the new fiduciary rule is on the drawing board for the Department of Labor (DOL). the Employee Benefits Security Administration (EBSA) plans to issue a Notice of Proposed Rulemaking (NPRM) addressing the definition...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Missing Plan Participants

Williams Mullen on

On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined once again by Beryl Ball, Principal Financial Advisor at CAPTRUST, who explains the Department of Labor’s recent guidance for plan sponsors...more

Mintz - Securities & Capital Markets...

Not So Fast: DOL Changes Course on Trump-Era ESG Investment Rule

The United States Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) announced on March 10, 2021 that it will not enforce certain final rules put into place under President Trump related to...more

Proskauer - Employee Benefits & Executive...

DOL Releases Guidance on addressing the Missing Participant Problem

The problem of “missing” participants and beneficiaries (individuals for whom the plan administrator does not have adequate contact information) is an ongoing issue for retirement plan administrators. It is also an area to...more

Eversheds Sutherland (US) LLP

Lost and found: DOL issues guidance relating to missing participants

On January 12, 2021, the Department of Labor (DOL) released a triple shot of guidance related to helping retirement plan fiduciaries meet their obligations under the Employee Retirement Income Security Act (ERISA) to...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Loan relief from EBSA

BSA Notice 2020-01 from the Employee Benefits Security Administration (EBSA) announced important relief for plan sponsors in connection with authorizing plan loans and distributions...more

Morgan Lewis

COVID-19: Agencies Issue Disaster Relief for Welfare Plans

Morgan Lewis on

The US Department of Labor’s Employee Benefits Security Administration (DOL) and the Internal Revenue Service (IRS) issued guidance last week providing deadline and other relief affecting welfare plans and their sponsors and...more

Pullman & Comley - Labor, Employment and...

More Disaster Relief for Employee Benefit Plans Due to COVID-19

On April 28, 2020, the Employee Benefits Security Administration (“EBSA”) issued three documents related to COVID-19 relief: (i) EBSA Disaster Relief Notice 2020-20 (EBSA Notice 2020-01); (ii) the text of a final rule...more

Stinson - Benefits Notes Blog

Class Action Filed Against Fidelity for Alleged “Secret Kickback Payments”

On February 21, 2019 attorneys for Andrew Wong, a participant in the T-Mobile USA Inc. 401(k) Retirement Savings Plan & Trust, filed a class action complaint in the U.S. District Court of Massachusetts against FMR LLC,...more

Amundsen Davis LLC

DOL ERISA Enforcement

Amundsen Davis LLC on

The U.S. Department of Labor, Employee Benefit Security Administration (EBSA) is responsible for the enforcement of the Employee Retirement Income Security Act of 1975 (ERISA). EBSA recently announced that, in 2017, by...more

Eversheds Sutherland (US) LLP

2017 in Review: ERISA guidance and enforcement

In 2017, the principal focus in the administration of the Employee Retirement Income Security Act of 1974, as amended (ERISA), by the Department of Labor (DOL) appropriately remained one of the extraordinary developments...more

Littler

DOL Proposes to Delay Fiduciary and Beryllium Rules

Littler on

In response to recent presidential directives, the U.S. Department of Labor is taking steps to delay the applicability and effective dates of two rules. First, the DOL's Employee Benefits Security Administration (EBSA) has...more

Burr & Forman

New Fiduciary Rule for Retirement Plans

Burr & Forman on

On April 6, 2016 the Department of Labor's Employee Benefits Security Administration ("EBSA") issued its long awaited final rule redefining a fiduciary investment advisor (also known as the "conflict of interest rule"),...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - May 2016

The Struggles Of Being A Retirement Plan Provider And How To Manage It. What you have to deal with. Any good retirement plan financial advisor will tell you that relationships in the retirement plan business mean...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

New Fiduciary Rule: It’s all politics

You read articles about the Department of Labor’s (DOL’s) new fiduciary rule and experts will tell you that it’s the greatest thing since sliced bread, the worst thing since Caddyshack II, or somewhere in between. I learned a...more

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