On January 16, 2025, the US Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released two pieces of guidance that, if finalized, would dramatically change the landscape for fiduciaries responsible...more
2/5/2025
/ Department of Labor (DOL) ,
EBSA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Executive Orders ,
Fiduciary Duty ,
Legislative Agendas ,
New Regulations ,
Pensions ,
Prohibited Transactions ,
Proposed Regulation ,
PTEs ,
Regulatory Agenda ,
Retirement Plan ,
Trump Administration
The Internal Revenue Service (IRS) recently issued Rev. Rul. 2020-24 and Rev. Proc. 2020-46 to provide direction with respect to qualified plan distributions paid to a state unclaimed property fund (i.e., an escheatment of...more
In recognition of the difficulties faced by retirement plan sponsors, participants and beneficiaries due to the COVID-19 pandemic, new guidance extends the deadlines for notices and disclosures required by Title I of ERISA...more
5/18/2020
/ Coronavirus/COVID-19 ,
Corporate Counsel ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Extensions ,
Filing Deadlines ,
IRS ,
New Guidance ,
Retirement Plan ,
Title I ,
U.S. Treasury
Overview of Benefit Plan Audits (Agencies Conducting Audits) -
..Internal Revenue Service (IRS)
– Reviews both health and welfare plans and qualified retirement plans
– Primary jurisdiction over qualified status of retirement...more
The US Department of Labor has taken the position that certain indemnification clauses are void against public policy under Section 410 of ERISA. This policy has been adopted by private plaintiff classes; as evident from a...more
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
The Internal Revenue Service and the Department of Labor relaxed some deadlines for eligible employee benefit plans and expanded the availability of withdrawals and loans for eligible defined contribution plan participants in...more