DOL Issues Warning About Crypto Assets in DC Plans
The lead regulator of employer-sponsored retirement plans says cryptocurrencies and other digital assets are subject to a variety of issues...
Tag: EBSA
Senate Committee Advances EBSA Secretary Nominee
Lisa Gomez, the candidate to serve as the DOL’s assistant secretary for the Employee Benefits Security Administration, will now face...
Report Offers Insight on How DOL Gets Leads for Benefit Plan Enforcements
The Employee Benefits Security Administration recovered $2.4 billion for plans, participants and beneficiaries in FY 2021.
Service Provider Collaboration and the DOL’s Cybersecurity Guidance
Retirement plan sponsors may have difficulty achieving full compliance with the DOL’s cybersecurity guidance because many of the required actions...
DOL’s ESOP Valuation Case Against Engineering Firm Falls Flat
The court notes that the ESOP trustees, while accepting a price very close to what the sellers were seeking, saved...
DOL Asks for Comments on Proposed Changes to Form 5500
The agency—which says the revisions are needed to implement provisions of the SECURE Act—has also published a notice of proposed...
Former Fiduciary Sanctioned Over Illegal Transaction
The Department of Labor says the fiduciary diverted tens of millions of dollars in plan assets for their own personal...
DOL Issues Guidance for Investors, Plans on Investment Advice Exemption
It sets forth questions an investor can ask potential advice providers and information to help them understand the purpose of...
DOL Holding Off on Enforcing ESG, Proxy Voting Rules
Until the publication of further guidance, the department says it will not enforce either final rule or pursue enforcement actions...
EBSA Disaster Relief Notice Highlights Pandemic’s Lasting Impact
This latest regulatory development is just another piece of evidence underscoring how extraordinary the last 12 months have been.
Labor Secretary Nominee Walsh Shines in Confirmation Hearing
During the confirmation hearing, Boston Mayor Marty Walsh was complimented as being fully qualified for the role of labor secretary...
DOL Offers Guidance for Locating Missing Participants
Guidance in three parts offers suggested processes for DC plans and DB plans and reveals errors DOL staff should look...
Marty Walsh Will Be Nominated as Secretary of Labor
Apart from potentially reversing course on fiduciary rule-related regulations, there are many other areas where sources suggest the next DOL...
DOL ERISA Enforcement Results Increase From Previous Year
The agency’s enforcement report describes some ways enforcement actions are initiated.
Some View EBSA Income Projections as Too ‘Prescriptive’
Recordkeepers and asset managers want more flexibility in terms of how their clients generate newly mandated lifetime income projections on...
PSNC 2020: Preston Rutledge’s Inside View of the DOL
As the nation’s top retirement and health plan regulator, Preston Rutledge oversaw an agency of more than 800 employee benefits...
DOL’s Proposed ESG Restrictions Panned in Public Comments
The clear trend among investment managers, retirement industry professionals and members of the public is skepticism about the need for...
DOL Seeks Stricter Limits on ESG Investing Under ERISA
The proposed regulation would “confirm that ERISA requires plan fiduciaries to select investments and investment courses of action based solely...
Final Electronic Disclosure Rule Published by DOL
The leadership at the regulator says this measure will reduce printing, mailing and related plan costs by an estimated $3.2...
DOL Provides Relief for Certain Retirement Plan Requirements
Relief is provided for verification requirements for loans and distributions and timing for forwarding contributions and loan repayments, among other...