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Employee Retirement Income Security Act The United States Department of Labor

Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.... more +
Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.  ERISA requires plans to provide information to participants, establishes a grievance process,  and allows participants to sue for benefits or breach of fiduciary duties.  less -

I-22- The Benefits of Benefits: A Roundtable Discussion on Trending Benefits Issues for 2018

by Cozen O'Connor on

From tax and health care reform to employee wellness programs to even handheld electronic devices, why should your company be interested in today's hot benefits issues? In today's episode of Employment Law Now, a roundtable...more

DOL Finalizes 18-Month Fiduciary Rule Delay, Extends Enforcement Policy

by McGuireWoods LLP on

The Department of Labor (DOL) on Nov. 29 finalized additional delays to major aspects of its fiduciary rule by formally extending, by 18 months, certain transition period deadlines and applicability dates. Consequently, in...more

Department of Labor Extends Transition Period for Exemptions Under the Fiduciary Rule

On November 27, 2017, the U.S. Department of Labor (DOL) extended the transition period for its conflict of interest regulation (commonly referred to as the "fiduciary rule") until July 1, 2019....more

The DOL Fiduciary Rule: Charting A Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. Recall...more

The DOL’s Fiduciary Rule: An Update And Practical Advice

by Carlton Fields on

This updates our August 15 blog entry, which targeted employers who sponsor retirement or welfare plans and are concerned about their fiduciary liabilities for properly selecting service providers....more

Plan Sponsors Should Take Action during the New Fiduciary Rule Transition Relief Period

On November 29, the Department of Labor (DOL) announced an extension to July 1, 2019, of the previously established deadline for transition relief from many provisions of the new fiduciary rule applicable to investment...more

Extension of DOL Fiduciary Rule is Official and some Guidelines for Documenting Rollovers

by Liskow & Lewis on

he Department of Labor officially announced the 18-month extension of the effective date of the key, and most onerous provisions, of the DOL Fiduciary Rule (until July 1, 2019). The announcement was made on November 29, 2017....more

Treasury’s Third Report on Financial System Regulation Focuses on the Asset Management and Insurance Industries

by Dechert LLP on

The U.S. Department of the Treasury (Treasury) recently released a report examining the regulatory framework for the asset management and insurance industries (Report). The Report is the third in a series of four reports that...more

It’s Official - Implementation of Final Rule on Disability Claims Procedures Formally Delayed

by Dickinson Wright on

On November 24, 2017, the Department of Labor (“DOL”) Employee Benefits Security Administration (“EBSA”) formally delayed the applicability date of previously issued final regulations imposing new claims procedures to...more

The First State Auto IRA Is Up Running and Working So Why Do Some Business Groups Want These Plans to Fail?

by K&L Gates LLP on

As we go to press, a leading business trade group, backed by faulty legal “advice,” is aiming to kill state automatic individual retirement accounts (IRAs). Their immediate target is OregonSaves, which launched the first such...more

DOL kicks fiduciary rule enforcement until 2019

by Ary Rosenbaum on

As expected, the Department of Labor (DOL) has delayed enforcement of the main provisions of the new fiduciary rule. Provisions covering exemptions for best-interest contracts and principal transactions will now go into...more

The Friday Five: Five Current ERISA Litigation Highlights

On November 29, 2017, the Department of Labor (DOL) further delayed and extended the applicability date of the 2016 Final Rule amending claims procedures for ERISA-covered employee benefit plans. Previously, the Final Rule...more

Department of Labor Finalizes 18-Month Extension for Simplified Compliance With the BIC Exemption Under the ERISA Fiduciary Advice...

On November 29, the US Department of Labor (DOL) finalized its 18-month extension of the transition period under the Best Interest Contract Exemption (the "BIC Exemption"). As described in Katten's earlier advisory,...more

President Trump Once Again Attempts To Dismantle The Affordable Care Act

by Fisher Phillips on

After multiple failed attempts by Congress to reform the Affordable Care Act (ACA), President Trump announced several weeks ago that the federal government would stop making subsidy payments to insurers who sell coverage...more

It’s Official! DOL Finalizes Delay

by Morgan Lewis on

The Fiduciary Rule transition period is extended until mid-2019, with financial institutions having flexibility in complying with the impartial conduct standards during this period....more

EBSA Formally Extends Applicability Date of Disability Claims Regulations to April 1, 2018; Time to Comment on the Regulations...

In today’s Federal Register, the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor has published its notice delaying, by 90 days, the applicable date of its final rule amending the disability...more

What Should Employers Do About the Delay In the New Disability Claims Procedure Requirements?

by Bond Schoeneck & King PLLC on

On November 24, 2017, the United States Department of Labor ("DOL") announced a 90-day delay in the effective date of regulations that will significantly change the claims procedure requirements for employee benefit plans...more

DOL Finalizes 18-Month Extension of Fiduciary Rule Transition Period

The Department of Labor (DOL) finalized the Fiduciary Rule’s transition period extension from January 1, 2018 to July 1, 2019, as it had previously announced in August. The DOL reported that it has not yet completed the...more

Emerging Private Fund Manager Guide for Raising Institutional Investor Capital

by Foley & Lardner LLP on

Public and private pension plans, endowments, hedge funds and other institutional investors are investing trillions of dollars annually with alternative asset managers. Many of these fund managers are well-established with a...more

2017 End of Year Plan Sponsor “To Do” List Qualified Retirement Plans (Part 4)

by Snell & Wilmer on

As 2017 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered...more

Labor Secretary Discusses DOL Priorities During House Committee Hearing

by Littler on

Labor Secretary Alexander Acosta fielded a range of questions on the DOL's priorities during a November 15 hearing before the House Committee on Education and the Workforce. Although members of the Committee inquired about...more

Watch for any Potential Conflicts of Interest

by Ary Rosenbaum on

It’s amazing sometimes how people are blind to conflicts of interest that are as clear as day. In my local hamlet, the Library Board hired a School District board member as their attorney even though there is a financial...more

Settling the Standard for Prudence? Fall Brings New Guidance for ESOP Trustees

by McDermott Will & Emery on

Through a series of recent settlements, the US Department of Labor has outlined the process steps fiduciaries should follow in connection with a transaction involving a purchase from, or sale to, an employee stock ownership...more

IRS Issues Memo on Missing Participant Search Standards

On October 19th, the IRS released a memorandum titled “Missing Participants and Beneficiaries and Required Minimum Distributions” (the “Memo”) to its plan auditors that provides guidelines for when a plan’s efforts to locate...more

ERISA’s Six-Year Statute of Repose for Fiduciary-Breach Claims Can Be Tolled

The Eleventh Circuit ruled that ERISA’s six-year statute of repose can be tolled by the parties even though it is a statute of repose. During pre-litigation negotiations between the U.S. Department of Labor and a trustee of...more

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