Seyfarth Synopsis: The IRS published guidance in its Employee Plans newsletter on August 24, 2020, allowing incomplete determination letter applications to be filed by August 31, 2020, with an opportunity to supplement the...more
Seyfarth Synopsis: On April 9, 2020, the IRS issued Notice 2020-23, extending federal tax filing deadlines and payment obligations to July 15, 2020 for certain items otherwise due to be performed from April 1, 2020 through...more
Seyfarth Synopsis: On Friday, March 27, 2020, in light of the far-reaching impact of coronavirus, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes some relief provisions...more
On October 22, 2019, the Department of Labor (DOL) issued proposed regulations providing guidance for retirement plan administrators using electronic delivery for required disclosures, including a new safe harbor....more
11/1/2019
/ Comment Period ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Electronic Communications ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Plan Administrators ,
Proposed Regulation ,
Retirement Plan ,
Rulemaking Process ,
Safe Harbors
Synopsis: The Department of Labor (“DOL”) just issued proposed rule changes governing the disclosure of ERISA-required notices via an electronic format (e.g., emails, intranet sites, etc.). These proposed rules update final...more
In an unpublished decision dated May 16, 2019, the Ninth Circuit held that a plan administrator abused its discretion by denying surviving spouse benefits under an ERISA retirement benefit plan to a participant’s domestic...more
6/7/2019
/ Abuse of Discretion ,
Annuities ,
DOMA ,
Domestic Partnership ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Life Insurance ,
Plan Administrators ,
Remand ,
Surviving Spouse ,
Survivor Benefits
On April 19, 2019, the IRS issued Rev. Proc. 2019-19, updating its Employee Plans Compliance Resolution System (“EPCRS”) which permits retirement plan sponsors and administrators to correct compliance failures that may...more
On March 15, 2018, in Chamber of Commerce of the U.S.A., et al. v. U.S. Department of Labor, the Court of Appeals for the Fifth Circuit invalidated the Department of Labor’s (“DOL”) new investment advice fiduciary regulation...more
3/26/2018
/ Best Interest Contract Exemptions ,
Conflicts of Interest ,
Consumer Financial Products ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
Regulatory Oversight ,
Retirement Plan ,
Vacated
The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) became federal law on July 21, 2010 to provide safeguards for consumers and increase transparency in the U.S. capital markets in response to public...more
8/31/2015
/ CEOs ,
CFOs ,
Clawbacks ,
Corporate Officers ,
Disclosure Requirements ,
Dodd-Frank ,
Executive Compensation ,
Financial Statements ,
Incentive Compensation ,
Median Employee ,
Nasdaq ,
NYSE ,
Pay Ratio ,
Recovery Plans ,
Regulation S-K ,
Rule 10D-1 ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act