News & Analysis as of

Employee Benefits Government Accountability Office

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

GAO is concerned over notices

According to a new Government Accountability Office (GAO) report, only a third of plan participants receive an important notice that could help them make a decision about their retirement savings....more

PilieroMazza PLLC

Weekly Update for Government Contractors and Commercial Businesses – January 2022

PilieroMazza PLLC on

LABOR & EMPLOYMENT - Government Contractors to Register for Affirmative Action Program Compliance Certification Beginning February 1, 2022 - In December 2021, the Office of Federal Contract Compliance Programs (OFCCP)...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL has always dropped the ball on disclosure

The Government Accountability Office (GAO) has found that 45% of plan participants are not able to use the information given in fee disclosures to determine the cost of their investment fee, and 41% of participants...more

Akin Gump Strauss Hauer & Feld LLP

Department of Labor’s Cybersecurity Guidance for Benefit Plans Signals Increased Scrutiny

On April 14, 2021, the Department of Labor (DOL) issued its first set of guidance documents related to the cybersecurity of retirement benefit plans covered by the Employee Retirement Income Security Act (ERISA). The...more

Epstein Becker & Green

EBSA Speaks: New Guidance for Mitigating Retirement Plan Cybersecurity Risk

Epstein Becker & Green on

On April 14, 2021, the U.S. Department of Labor’s (“DOL’s”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The guidance is set forth in three...more

Akerman LLP - HR Defense

ERISA Plan Sponsors – Watch Your Participants’ Data! DOL Issues New Cybersecurity Guidance for Retirement Plans

In response to a recent General Accounting Office (GAO) report recommending federal guidance to mitigate cybersecurity risks in retirement plans and to respond to ever-increasing cyber threats to plan participant data and...more

Stoel Rives LLP

GAO Calls for Stronger Oversight of Executive Retirement Plans Senator Sanders Introduces Legislation in Response

Stoel Rives LLP on

The United States Government Accountability Office (the “GAO”) has made public its January 28, 2020, report to Congress on the oversight of executive retirement plans by the Internal Revenue Service (the “IRS”) and the U.S....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plan Design Features That Crimp Retirement Savings

The Government Accounting Office (GAO) took a look at 80 401(k) plans and concentrated on the features that they believe limit an employee’s ability to save. While the Internal Revenue Code and ERISA currently allow all of...more

Troutman Pepper

New GAO Report on Contingent Workforce Shows 85% of Independent Contractors Are “Content with Their Employment Type”

Troutman Pepper on

A comprehensive government report on the contingent workforce made public two days ago revealed surprising data about independent contractors, finding that 85% of independent contractors “appeared content with their...more

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