While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint...more
New York Governor Kathy Hochul enacted an auto-IRA law, effective October 21, which requires certain New York employers to either offer their employees a qualified retirement plan or join the state-run IRA program. The new...more
President Joseph Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law on November 15, 2021. The IIJA will provide funding to overhaul the country’s physical infrastructure and will serve to give the...more
The US Department of Labor (DOL) has released its final rule on the application of ERISA fiduciary duties—specifically the duties of prudence and loyalty—to proxy voting and the exercise of shareholder rights. It takes effect...more
The US Department of Labor’s final ERISA regulation generally follows its proposal but without the focus on environmental, social, and governance investing. ...more
Like many of our clients, we have been anxiously awaiting guidance from regulators on pooled employer plans, which may enter the retirement plan marketplace as soon as January 1, 2021. ...more
While much of the attention by regulators has been focused on the coronavirus (COVID-19) response and CARES Act/FFCRA guidance, they have not forgotten about the SECURE Act’s introduction of pooled employer plans (PEPs)...more
Morgan Lewis’s seven employee benefits and executive compensation substantive task forces are available to help employers evaluate and troubleshoot potential issues arising from the changing work environment and economic...more
A hot topic in the world of money management, including the management of assets in retirement plans, is the consideration of environmental, social, and governance (ESG) factors when evaluating investments....more
3/11/2020
/ Corporate Governance ,
Corporate Social Responsibility ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary ,
Field Assistance Bulletins ,
Fund Managers ,
Industry Examinations ,
Investment ,
Investment Management ,
Investment Opportunities ,
Proxy Voting ,
Retirement Plan ,
Wealth Management
The guidance is the first of three waves of FAQs.
On October 27, the US Department of Labor (DOL) released a long-awaited frequently asked questions (FAQs) document regarding the fiduciary rule, as released on April 8,...more
The final rule has implications for plan sponsors and may impact certain relationships with service providers.
On April 6, after a long (and some might say tortured) process, the US Department of Labor (DOL) issued a...more
6/14/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Best Interest Standard ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exceptions ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Retirement Plan
The guidance clarifies that environmental, social, and governance factors may be relevant to a plan fiduciary’s evaluation of an investment’s economic merits.
The US Department of Labor (DOL) recently published an...more
Guidance provides temporary relief from the August deadline for annual disclosures by participant-directed plans.
On July 22, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin 2013-02 (the Bulletin),...more
Advisory opinion on "plan asset" issue lays out factors for fiduciary consideration.
On July 3, the U.S. Department of Labor (DOL) issued Advisory Opinion 2013-03A, which discusses whether a bookkeeping account for...more