Fiduciaries should be aware of recent developments involving AI, including emerging and recent state law changes, increased state and federal government interest in regulating AI, and the role of AI in ERISA litigation. While...more
1/16/2025
/ Anti-Discrimination Policies ,
Artificial Intelligence ,
Compliance ,
Data Privacy ,
Data Security ,
Department of Health and Human Services (HHS) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employee Training ,
Equal Employment Opportunity Commission (EEOC) ,
Fiduciary Duty ,
Health and Welfare Plans ,
Healthcare ,
OCR ,
Regulatory Requirements ,
Risk Management
In last month’s 401(k) Compliance Check, we discussed best practices for drafting a 401(k) plan summary plan description (SPD). This month we provide some best practices for plan administrators’ handling of 401(k) plan...more
No one really appreciates laundry, but having a calendar year-end top 10 list may be exactly what plan sponsors and administration committees need in order to prevent operational or document compliance issues being raised by...more
10/21/2021
/ 401k ,
CARES Act ,
Corrective Actions ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
EPCRS ,
IRS ,
QACA ,
Required Minimum Distributions ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Summary Plan Description
“Because that’s where the money is,” was the famous quote fictitiously attributed to Willie Sutton when asked why he robbed banks. Given the trillions of dollars held by employee benefit plans, these plans are prime targets...more
While employers and workers alike have understandably been extremely focused on coronavirus–related matters, the U.S. Department of Labor (DOL) recently (June 23, 2020) decided that employee benefit plan fiduciaries need to...more
Every week, new federal lawsuits are filed against companies and individuals, alleging that one or more breaches of fiduciary duties have been committed in connection with responsibilities owed to employee benefit plans...more