As the US Department of Labor (DOL) continues to contemplate the role of environmental, social, and governance (ESG) considerations in ERISA plan investing, ESG issues surrounding retirement plans are cropping up in another...more
The US Department of Labor (DOL) recently announced that it is seeking comment on the impact of climate change on retirement security and what actions, if any, the agency should take to protect retirement savings from such...more
At the end of each fiscal year, the US Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) compiles the monetary results it obtained through various initiatives meant to ensure compliance with the...more
The US Department of Labor on October 14 published in the Federal Register a “Notice of Proposed Rulemaking on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” The proposed rule, if...more
The US Department of Labor (DOL) released on Wednesday, October 13, a Notice of Proposed Rulemaking on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (the proposed rule), which would...more
The Department of Labor (DOL) released on October 13, 2021, a Notice of Proposed Rulemaking on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (Proposed Rule), which would amend a prior...more
Hinting that the US Department of Labor (DOL) is currently working on guidance related to cryptocurrency, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration recently commented that the DOL...more
9/30/2021
/ 401k ,
Asset Class ,
Cryptocurrency ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Management ,
Popular ,
Retirement Plan Providers ,
Securities and Exchange Commission (SEC)
In recent years, target retirement date funds (TDFs) have become a very popular investment option on participant-directed defined contribution plan investment lineups. But, as discussed in this LawFlash, as TDFs have grown in...more
We repeatedly warned over the past few months, that officials at the highest levels of the DOL were signaling that the DOL would begin an audit initiative focusing on retirement plan cybersecurity practices. ...more
6/11/2021
/ Audits ,
Corporate Counsel ,
Cybersecurity ,
Data Protection ,
Department of Labor (DOL) ,
Employee Benefits ,
Fiduciary ,
Fiduciary-Standards ,
Investment Management ,
Popular ,
Retirement Plan
US President Joseph Biden and Vice President Kamala Harris have consistently framed their policies with what they call the four major “crises” facing the nation: COVID-19, the economy, climate, and inequity. ...more
4/30/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Climate Change ,
Electric Vehicles ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Immigration Reform ,
Labor Reform ,
Regulatory Reform ,
Relief Measures ,
Renewable Energy ,
Tax Reform
As noted in our recent blog post, the US Department of Labor (DOL) has repeatedly signaled that it would be turning its focus toward the intersection of cybersecurity practices and ERISA’s fiduciary duties. ...more
There has been an increasing focus in recent years on the intersection of ERISA’s fiduciary duties and the issues of cybersecurity and data (including participant data) protection. Beyond the potential for pecuniary and...more
In a somewhat expected development, the US Department of Labor’s Employee Benefits Security Administration (EBSA) issued an enforcement statement on Wednesday announcing that it will not enforce the recently published final...more
3/11/2021
/ Department of Labor (DOL) ,
Duty of Loyalty ,
Duty of Prudence ,
EBSA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Guidance ,
Environmental Social & Governance (ESG) ,
Proxy Voting Guidelines ,
Retirement Plan ,
Shareholder Rights
President Joe Biden has been in office for 34 days and his nominee for Secretary of Labor, Marty Walsh, has not yet been confirmed. So far, Mr. Walsh has not publicly stated much regarding his views or intended priorities...more
2/23/2021
/ Administrative Appointments ,
Biden Administration ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Fiduciary Rule ,
Form 5500 ,
Investment Adviser ,
Investment Management ,
Proxy Voting Guidelines ,
Regulatory Reform ,
Retirement Plan
The US Department of Labor (DOL) provided three long-awaited pieces of sub-regulatory guidance on January 12 on the issues of missing participants and uncashed checks. This is an area that has been the subject of a focused...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
The US Department of Labor (DOL) released its 2020 statistics on ERISA enforcement activities on October 27, affirming that the agency’s investigations remain robust. In sharing the statistics, the DOL not only boasted that...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
The US Department of Labor (DOL) announced publication of a final rule expanding the electronic disclosure options available for retirement plan communications on May 21. ...more
In recent years, reports have indicated robust, and in some respects increasing, enforcement activities by the US Department of Labor (DOL) related to ERISA. The DOL recently issued its enforcement statistics for fiscal year...more
3/17/2020
/ Affordable Care Act ,
Department of Labor (DOL) ,
Emergency Rooms ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Health Insurance ,
Medical Reimbursement ,
MHPAEA ,
Regulatory Requirements ,
Statistical Analysis
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
In recent years, an issue under the Employee Retirement Income Security Act of 1974 (ERISA) has drawn considerable attention: Participants who have reached the minimum age for starting their retirement benefits are not doing...more
The US Department of Labor recently issued a proposed rule to supplement the Department’s existing electronic disclosure regulations and ease the burden of compliance with many of ERISA’s retirement plan disclosure...more
As we look forward to 2020, we bring you a few key takeaways on the hot topics and trends that individuals operating in the employee benefits space are watching in health and welfare, plan sponsor considerations, executive...more
The US Department of Labor (the Department) on October 22 announced the publication of a proposed rule intended to serve as a supplement to the Department’s existing electronic disclosure regulations. The proposed rule leaves...more