Compliance | November 8th, 2018 DOL Proposes Exemption for Retirement Plan Auto-Portability Solution The agency is inviting public comment on the proposed exemption and encourages additional proposals.
Compliance | October 29th, 2018 Retirement Plan Sponsors and Providers Given Relief by DOL Due to Hurricanes The DOL relief relates to plan loans and distributions, remittance of contributions and blackout period notices.
Compliance | October 25th, 2018 ERISA Attorneys Interpret DOL MEP Regulations Industry stakeholders disappointed the proposal does not address open MEPs can take heart in the fact that DOL staff are...
Compliance | October 23rd, 2018 EBSA Secures ERISA Settlement from Neuroscience Center The plan’s sole fiduciary and trustee has agreed to restore pension assets that, according to an EBSA investigation, were improperly...
Compliance | October 22nd, 2018 DOL Seeks to Expand Access to ‘Association Retirement Plans’ These plans allow small businesses within a business group or association to join together to offer defined contribution retirement savings...
Compliance | October 19th, 2018 DOL Not Giving Up on Fiduciary Rule Both the DOL and SEC have a September 2019 date for a final action on corresponding fiduciary and best interest...
Compliance | October 18th, 2018 DOL’s Open MEP Proposal Advances Through OMB If the DOL’s proposal closely follows President Trump’s executive orders, it is likely to revise the “common nexus” and “one...
Compliance | October 8th, 2018 Members of Congress Ask Trump to Protect ESOPs In a letter, members of Congress accuse the DOL of “regulation through litigation” and ask that clear guidance regarding valuation...
Compliance | October 4th, 2018 Reliance Trust Settles DOL Lawsuit Over ESOP Valuation The lawsuit alleged that employee stock ownership plan participants overpaid for company stock.
Participants | September 21st, 2018 The Perils of Ignoring Participant Complaints If a plan sponsor fails to respond, they could face a civil and/or DOL lawsuit
Compliance | August 31st, 2018 President Trump Orders Review of Open MEPs, RMD Rules President Trump on Friday called on the Department of Labor to consider the pros and cons of allowing small businesses...
Administration | August 31st, 2018 Mercer Makes Recommendations for Finding Missing Participants If there are missing participants that plan sponsors have not made a genuine effort to find, “the entire plan could...
Investing | August 29th, 2018 Wells Fargo Pulls Back on Decision to Use T Shares Although it did answer the question of whether the decision was made in response to the 5th U.S. Circuit Court...
Compliance | August 21st, 2018 Litigators Not the Only Ones Looking Into Retirement Plan Investments and Fees The EBSA’s Plan Investment Conflicts (PIC) project have reviewed conflicts of interest of fiduciary service providers and investment managers of...
Compliance | August 13th, 2018 DOL Appoints Independent Fiduciary to Abandoned Plan Fiduciaries of the Sacred Heart Hospital Profit-Sharing 401(k) Plan failed to administer the plan after the hospital operations ceased in...
Investing | August 10th, 2018 GAO Explores Why Few Retirement Plans Embrace ESG Investing GAO says in other cases where plans may face complexity, such as selecting a target-date fund or monitoring pension consultants,...
Compliance | August 7th, 2018 Business Owner to Serve Prison Time for 401(k) Plan Embezzlement A multi-agency investigation found that from approximately May 2011 through August 2012, the business owner unlawfully embezzled and converted approximately...
Compliance | August 6th, 2018 Pace of EBSA Settlements and Plan Corrections Is Strong “On the retirement side, again, there is a strong focus on missing participants, and EBSA is diving incredibly deep," says...
Compliance | July 27th, 2018 ERIC Calls Foul in DOL’s Missing Participant Push In an open letter asking for more detailed guidance, the ERISA Industry Committee spells out what it says are “examples...
Compliance | July 19th, 2018 Will Regulation About Association Health Plans Satisfy the Intent? Commenters about the Department of Labor’s regulation say it could result in state restrictions, ratings that will make costs unequal...