On January 27, 2021, the United Kingdom’s Department for Work and Pensions (“DWP”) issued the draft regulation, The Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 (the “Regulation”). ...more
On October 2, 2020, the Northern District of Illinois ruled on motions to dismiss in a closely-watched cybertheft lawsuit arising out of the theft of $245,000 from a participant’s account in the Abbott Laboratories Stock...more
10/16/2020
/ Abbott Laboratories ,
Benefit Plan Sponsors ,
Breach of Duty ,
Cybersecurity ,
Cybertheft ,
Duty of Loyalty ,
Duty of Prudence ,
Duty to Monitor ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Popular ,
Retirement Plan
The US is not the only country that has been making legislative and regulatory changes in the pension and benefits area in response to COVID-19. ...more
A pension or welfare plan’s investment in a private equity or real estate partnership, among other investment funds, may give rise to “unrelated business income tax” (“UBIT”)....more
Brief Takeaway -
As a result of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), plan sponsors and service providers across the country are bracing for a flurry of participant activity with respect to...more
4/16/2020
/ Breach of Duty ,
CARES Act ,
Coronavirus/COVID-19 ,
Cyber Threats ,
Defined Benefit Plans ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fraud ,
Relief Measures ,
Retirement Plan
As reported previously, in March of 2018, the UK Department of Work and Pensions issued a white paper calling for significant toughening of the fiduciary duties around pensions. This was in response to the collapse of a...more
3/2/2020
/ Employee Benefits ,
Fiduciary ,
Fiduciary Duty ,
Legislative Agendas ,
Pension Schemes ,
Pensions ,
Proposed Legislation ,
Regulatory Agenda ,
Retirement Plan ,
The Pensions Regulator (TPR) ,
UK