The US Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, a temporary enforcement policy regarding the transfer of small retirement plan benefits to state unclaimed property funds. This development...more
The Employee Benefits Security Administration recently released its final rule amending and restating the Voluntary Fiduciary Correction Program, along with corresponding amendments to a related class exemption, Prohibited...more
3/5/2025
/ Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Internal Revenue Code (IRC) ,
Pensions ,
Popular ,
Prohibited Transactions ,
Retirement Plan ,
SECURE Act
The US Department of Labor and Internal Revenue Service have issued coordinated guidance on the pension-linked emergency savings account (PLESA), a new in-plan emergency savings account feature created by the SECURE 2.0 Act...more
The SECURE 2.0 Act of 2022 makes far-ranging changes to the US employer-retirement plan system. This LawFlash—one in a series—more closely examines the act’s provisions that expand and encourage retirement plan participation....more
The Consolidated Appropriations Act of 2021 mandates that employers offering medical/surgical and mental health/substance use disorder coverage provide comparative analyses and any supporting documentation demonstrating...more
10/22/2021
/ Benefit Plan Sponsors ,
Compliance ,
Consolidated Appropriations Act (CAA) ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Mental Health ,
Mental Health Parity Rule ,
MHPAEA ,
NQTLs ,
Substance Abuse
With broad bipartisan support, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or Act), signed into law by the president on March 27, provides a $2 trillion economic stimulus and contains numerous and...more
4/7/2020
/ CARES Act ,
Compensation & Benefits ,
Coronavirus/COVID-19 ,
Defined Benefit Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Federal Loans ,
Financial Stimulus ,
Health Insurance ,
Payroll Taxes ,
Relief Measures ,
Required Minimum Distributions ,
Retirement Plan ,
Tax Relief