On January 24, 2022, the U.S. Supreme Court unanimously ruled in Hughes v. Northwestern University that establishing and offering a broad range of investment options for a participant-directed retirement plan does not ensure...more
1/26/2022
/ 401k ,
403(b) Plans ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Services Industry ,
Hughes v. Northwestern University ,
Investment Management ,
Plan Participants ,
Retirement Plan ,
Tibble v Edison Int
Last week, the U.S. Department of Labor (the "DOL") on December 21, 2021 issued a supplement (the “2021 Supplement”) to a June 2020 Information Letter (the "2020 Information Letter") that had addressed the possible use of...more
12/28/2021
/ 401k ,
Compensation & Benefits ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Products ,
Information Letters ,
Investment ,
Investment Management ,
Private Equity ,
Retirement Plan
The U.S. Department of Labor (the “DOL”) on October 30, 2020 released a final regulation (the “Final Regulation”) relating to the consideration of non-pecuniary factors by fiduciaries of employee benefit plans (“Plans”) that...more
The U.S. Department of Labor (“DOL”) on August 18, 2020, issued an interim final regulation (the “Regulation”) requiring the inclusion of lifetime income illustrations in the benefit statements provided to participants in...more
9/20/2020
/ 401k ,
Benefit Plan Sponsors ,
Comment Period ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Interim Rule ,
Lifetime Income Disclosures ,
Limited Liability ,
Request For Information ,
Retirement Plan ,
SECURE Act
The Internal Revenue Service released Notice 2020-51 on June 23, 2020, which provides additional Coronavirus related guidance relating to the waiver of 2020 required minimum distributions (RMDs) under certain defined...more
7/11/2020
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Highly Compensated Employees ,
Individual Retirement Account (IRA) ,
IRS ,
Popular ,
Required Minimum Distributions ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
The U.S. Department of Labor (the "DOL") this week, on June 4, 2020, issued an Information Letter (the "Letter") regarding the use of private equity ("PE") investments in investment options offered under participant-directed...more
In Dorman v. Charles Schwab Corp., the U.S. Court of Appeals for the Ninth Circuit held on August 20, 2019 that claims under the Employee Retirement Income Security Act of 1974 (“ERISA”) can generally be subject to mandatory...more
9/11/2019
/ 401k ,
American Express v Italian Colors Restaurant ,
Arbitration ,
Best Interest Contract Exemptions ,
Class Action ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Federal Arbitration Act ,
Fiduciary Duty ,
Fiduciary Rule ,
Field Assistance Bulletins ,
Mandatory Arbitration Clauses ,
Putative Class Actions