Cybersecurity is by no means a new issue for employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (“ERISA”). Still, until recently, the U.S. Department of Labor (“DOL”) had not directly...more
Over the past few years, qualified retirement plans, including employee stock ownership plans (ESOPs) have been adding provisions requiring participant breach of fiduciary duty claims to be resolved through mandatory...more
On January 12, 2021, the United States Department of Labor (“DOL”) entered into a consent order with another fiduciary of an employee stock ownership plan (“ESOP”). The consent order in Scalia v. Professional Fiduciary...more