While many in the U.S. have attempted to resume a sense of normalcy despite the ongoing COVID-19 pandemic, for employer-sponsored health plans, special “emergency” pandemic rules and extensions remain in effect. As previously...more
Given the current market volatility, the U.S. Department of Labor’s (DOL) concerns related to the addition of cryptocurrencies in qualified retirement plans seems prescient. In Compliance Assistance Release No. 2022-01, the...more
5/20/2022
/ 401k ,
Benefit Plan Sponsors ,
Cryptocurrency ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Fiduciary Duty ,
Investment Opportunities ,
New Guidance ,
Plan Participants ,
Retirement Plan
In April, the U.S. Department of Labor (DOL), for the first time, issued cybersecurity guidance that was focused on retirement plans governed by the Employee Retirement Income Security Act of 1974 (ERISA) but could be...more
As we previously reported, the recently enacted American Rescue Plan Act of 2021 (ARPA) includes a six-month COBRA premium subsidy whereby the federal government subsidizes 100% of the COBRA premium during the period of April...more
4/13/2021
/ American Rescue Plan Act of 2021 ,
Benefit Plan Sponsors ,
Biden Administration ,
COBRA ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employer Group Health Plans ,
Health Insurance ,
Notice Requirements ,
Premium Subsidies ,
Relief Measures
The DOL’s Employee Benefits Security Administration (EBSA) recently issued its annual inflationary adjustments to penalties that apply for violations of the Employee Retirement Income Security Act of 1974, as amended (ERISA)....more
On December 27, 2020, the President signed a bill passed by Congress providing additional COVID-19 related relief and stimulus. The key provisions impacting employers and current and former employees are summarized below,...more
1/4/2021
/ CARES Act ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Economic Injury Disaster Loans ,
Emergency Sick Leave Laws ,
Families First Coronavirus Response Act (FFCRA) ,
Financial Stimulus ,
IRS ,
Paid Leave ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Sick Leave ,
Tax Credits ,
Time Extensions ,
Unemployment Benefits
Retirement plan fiduciaries and participants with the ability to direct the investment of their retirement accounts increasingly have considered environmental, social, and governance (ESG) factors important to their...more
Embracing 21st century technology, the U.S. Department of Labor (DOL) recently published a final rule that provides a new safe harbor for electronic distribution of disclosures to retirement plan participants and...more
On Friday, April 10, 2020, the U.S. Department of Labor (DOL) issued corrections to its temporary regulations interpreting the Families First Coronavirus Response Act (FFCRA). Importantly, the DOL clarified the...more
This article was originally published on March 18, 2020 and has been updated in light of FFCRA developments as of March 26, 2020, March 27, 2020 and March 30, 2020. The updates to the original article are summarized...more
This article was originally published on March 18, 2020 and has been updated in light of FFCRA developments as of March 26, 2020, March 27, 2020 and March 29, 2020. The updates to the original article are summarized...more
In October, the Department of Labor issued proposed regulations that would allow retirement plan administrators to make required disclosures to participants accessible on a website; as opposed to requiring plan administrators...more
The Department of Labor published final regulations on July 31, 2019, making it easier for multiple employers to band together to sponsor a single retirement plan (i.e., a multiple employer plan or MEP), thereby reducing the...more
By way of background, the Mental Health Parity and Addiction Equity Act (MHPAEA) prevents group health plans and health insurance issuers that provide mental health or substance use disorder benefits from imposing less...more