Betsy Olson

Faegre Drinker Biddle & Reath LLP

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Department of Labor Guidance Addresses Cybersecurity Risk Mitigation

On April 14, 2021, the Department of Labor (“DOL”) issued three documents that provide cybersecurity guidance for plan sponsors, fiduciaries, recordkeepers, and plan participants. Cybersecurity has become an increasingly...more

4/22/2021 / Benefit Plan Sponsors , Best Practices , Cybersecurity , Data Security , Department of Labor (DOL) , Digital Service Providers , Fiduciary , Plan Participants , Retirement Plan , Risk Mitigation

DOL Provides (Informal, Non-Binding) Guidance on Missing Participants

On January 12, 2021, the Department of Labor (“DOL”) issued guidance that is intended to help retirement plan fiduciaries meet their ERISA obligations to locate and distribute benefits to missing or nonresponsive...more

2/10/2021 / Best Practices , Compliance , Department of Labor (DOL) , EBSA , Employee Retirement Income Security Act (ERISA) , Fiduciary , Field Assistance Bulletins , Missing Plan Participants , Retirement Plan

The Clock Is Ticking: DOL Issued Interim Final Rule On Lifetime Income Disclosures For Defined Contribution Plans

The Setting Every Community Up for Retirement Enhancement (SECURE) Act included several provisions related to lifetime income strategies under retirement plans, including a requirement that pension benefit statements for...more

9/9/2020 / Defined Contribution Plans , Department of Labor (DOL) , Employee Retirement Income Security Act (ERISA) , Federal Register , Fiduciary , Interim Final Rules (IFR) , Pension Benefits , SECURE Act

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