This morning, the White House Office of Management and Budget announced that it has received the proposed rule, “Fiduciary Duties in Selecting Investment Alternative[s]” (the “Proposal”). The Proposal responds to President...more
On December 9, 2025, the Solicitor General (“SG”), on behalf of the United States Department of Labor (“DOL”) and the United States Department of Justice (“DOJ”), filed briefs with the Supreme Court in two high-profile ERISA...more
On November 17, 2025, the Division of Examinations (“Division”) of the U.S. Securities and Exchange Commission (“SEC” or “Commission”) published its annual examination priorities for the new fiscal year. For those working or...more
On August 7, 2025, President Donald J. Trump issued a much-anticipated Executive Order Democratizing Access for 401(k) Investors (the “Executive Order”) emphasizing the President’s view that it is important that all Americans...more
10/22/2025
/ 401k ,
Alternative Investment Funds ,
Department of Labor (DOL) ,
Digital Assets ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Executive Orders ,
Fiduciary Duty ,
Investment ,
Private Equity ,
Regulatory Reform ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Trump Administration
There is a growing interest from the retirement industry and policymakers to modernize 401(k) and other defined contribution (“DC”) plan investments by incorporating alternative asset classes and lifetime income features. ...more
At long last, the Treasury Department and the Internal Revenue Service (“IRS”) issued final (and new proposed) regulations that address the major changes to Code section 401(a)(9) under the Setting Every Community Up for...more
Earlier this month, the Department of Labor proposed a significant prohibited transaction exemption that would allow a plan sponsor’s captive insurer to reinsure pension annuity risks. Proposed Exemption From Certain...more
The IRS recently issued guidance in Notice 2024-55 on the application of two new exceptions to the 10% additional tax under Code section 72(t) for early withdrawals from a qualified plan or IRA, which were added by Sections...more
On April 25, 2024, the U.S. Department of Labor (“DOL”) published its much-anticipated final regulation on the definition of “fiduciary” under section 3(21)(a)(ii) of the Employee Retirement Income Security Act of 1974, as...more
On April 23, 2024, the U.S. Department of Labor (“DOL” or “Department”) issued a final regulatory package amending its fiduciary investment advice regulation and revising numerous existing prohibited transaction exemptions...more
On April 25, 2024, the U.S. Department of Labor (“DOL”) published its much-anticipated final regulation on the definition of “fiduciary” under section 3(21)(a)(ii) of the Employee Retirement Income Security Act of 1974, as...more
This holiday week, the IRS issued its long-anticipated guidance on miscellaneous changes under SECURE 2.0 Act of 2022 (“SECURE 2.0”) that are effective now (or in short order). Specifically, Notice 2024-2 (“Notice”), covers,...more
On November 24, 2023, the IRS issued a Notice of Proposed Rulemaking, which provides long-awaited proposed regulations regarding the “long-term, part-time employees” rules under the SECURE Act of 2019 (“SECURE 1.0”) and the...more
The IRS recently announced that many of the key retirement plan limits will increase next year. Notice 2023-75 (Nov. 1, 2023). These limit increases are more modest than the 2023 increases, with some limits remaining the...more
In a September 29, 2023 Advisory Opinion issued to Citigroup Inc. (“Citi”), the Department of Labor (“DOL”) addressed several key ERISA implications arising in connection with a Citi Racial Equity Program (the “Program”). ...more
In the past month, plaintiffs have filed two separate lawsuits – Dimou v. Thermo Fisher Scientific, Inc. and Rodriguez v. Intuit, Inc – accusing plan fiduciaries of violating the Employee Retirement Income Security Act of...more
The Department of Labor (“DOL”) has sent a new, proposed fiduciary rule to the Office and Management and Budget (“OMB”) for review. The text of the proposal is not yet public. OMB must first conduct an interagency review...more
The Internal Revenue Service (“IRS”) issued Notice 2023-54 (“Notice”) that provides relief from Code Sec. 401(a)(9) required minimum distribution (“RMD”) compliance for certain 2023 lifetime and post-death distributions to...more
On August 23, 2023, the Securities and Exchange Commission (“SEC”) voted three to two to adopt a package of new final rules, Private Fund Advisers; Documentation of Registered Investment Adviser Compliance (the “Private Fund...more
On Friday, August 23, 2023, the IRS issued Notice 2023-62, which provides long-awaited relief regarding the SECURE 2.0 requirement that age 50 catch-up contributions for higher income participants in Section 401(k), 403(b),...more
Last week, the IRS issued Notice 2023-54 (“Notice”) that provides a variety of relief for both plan sponsors and IRA providers, along with participants/IRA owners and their beneficiaries, while we await the final Code section...more
On Friday, June 30, 2023, the Superior Court of California (Sacramento Division) delayed enforcement of regulations under the California Privacy Rights Act of 2020 (“CPRA”) until one year after adoption – or March 29, 2024. ...more
The IRS has issued interim guidance to address the changes made by section 305 of SECURE 2.0 to the self-correction program under the IRS Employee Plans Compliance Resolution System (commonly referred to as “EPCRS”). While...more
In August of 2018, the Main Street Employee Ownership Act (“MSEOA”) became law as part of the John S. McCain National Defense Authorization Act. The intent behind the MSEOA was to promote the establishment of employee stock...more
On March 21, 2023, the Department of Treasury (“Treasury”) and Internal Revenue Service (“IRS”) released Notice 2023-27, which announced that Treasury and the IRS intend to issue guidance related to the treatment of certain...more