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Beyond Alternative Assets: DOL’s New Investment Selection Rule Sets the Bar for All Fiduciary Investment Decisions

On March 31, 2026, the Department of Labor (“DOL”) published a proposed regulation on investment selection under ERISA (“Selection of Designated Investment Alternatives—relevant factors and determinations for fiduciaries of...more

Proposed Fee Transparency Rules and New Legislation for Group Health Plan PBMs

President Trump’s April 15, 2025, Executive Order on lowering the cost of prescription drug pricing, among other things, directed the Department of Labor (DOL) to propose regulations to improve the transparency of fees and...more

Updated Special Tax Notices for Retirement Plan Distributions

On January 15, 2026, the IRS and Treasury issued Notice 2026-13, which updated the guidance available to plan administrators tasked with providing rollover notices and safe harbor special tax notices designed to comply with...more

DOL Declines to Defend Fiduciary Investment Advice Rule But May Target Proxy Advisors

On November 28, 2025, the Fifth Circuit Court of Appeals granted the U.S. Department of Labor’s (DOL) motion to withdraw its defense of the Biden administration’s Retirement Security Rule (the “2024 Fiduciary Rule”). This...more

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