At the end of each fiscal year, the US Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) compiles the monetary results it obtained through various initiatives meant to ensure compliance with the...more
The US Department of Labor (DOL) released on Wednesday, October 13, a Notice of Proposed Rulemaking on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (the proposed rule), which would...more
The Department of Labor (DOL) released on October 13, 2021, a Notice of Proposed Rulemaking on Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (Proposed Rule), which would amend a prior...more
In recent years, target retirement date funds (TDFs) have become a very popular investment option on participant-directed defined contribution plan investment lineups. But, as discussed in this LawFlash, as TDFs have grown in...more
We repeatedly warned over the past few months, that officials at the highest levels of the DOL were signaling that the DOL would begin an audit initiative focusing on retirement plan cybersecurity practices. ...more
6/11/2021
/ Audits ,
Corporate Counsel ,
Cybersecurity ,
Data Protection ,
Department of Labor (DOL) ,
Employee Benefits ,
Fiduciary ,
Fiduciary-Standards ,
Investment Management ,
Popular ,
Retirement Plan
As noted in our recent blog post, the US Department of Labor (DOL) has repeatedly signaled that it would be turning its focus toward the intersection of cybersecurity practices and ERISA’s fiduciary duties. ...more
In a somewhat expected development, the US Department of Labor’s Employee Benefits Security Administration (EBSA) issued an enforcement statement on Wednesday announcing that it will not enforce the recently published final...more
3/11/2021
/ Department of Labor (DOL) ,
Duty of Loyalty ,
Duty of Prudence ,
EBSA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Guidance ,
Environmental Social & Governance (ESG) ,
Proxy Voting Guidelines ,
Retirement Plan ,
Shareholder Rights
President Joe Biden has been in office for 34 days and his nominee for Secretary of Labor, Marty Walsh, has not yet been confirmed. So far, Mr. Walsh has not publicly stated much regarding his views or intended priorities...more
2/23/2021
/ Administrative Appointments ,
Biden Administration ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Fiduciary Rule ,
Form 5500 ,
Investment Adviser ,
Investment Management ,
Proxy Voting Guidelines ,
Regulatory Reform ,
Retirement Plan
The US Department of Labor (DOL) provided three long-awaited pieces of sub-regulatory guidance on January 12 on the issues of missing participants and uncashed checks. This is an area that has been the subject of a focused...more
The US Department of Labor’s final ERISA regulation generally follows its proposal but without the focus on environmental, social, and governance investing. ...more
The US Department of Labor (DOL) released its 2020 statistics on ERISA enforcement activities on October 27, affirming that the agency’s investigations remain robust. In sharing the statistics, the DOL not only boasted that...more
Like many of our clients, we have been anxiously awaiting guidance from regulators on pooled employer plans, which may enter the retirement plan marketplace as soon as January 1, 2021. ...more
The US Department of Labor (DOL) announced publication of a final rule expanding the electronic disclosure options available for retirement plan communications on May 21. ...more
A hot topic in the world of money management, including the management of assets in retirement plans, is the consideration of environmental, social, and governance (ESG) factors when evaluating investments....more
3/11/2020
/ Corporate Governance ,
Corporate Social Responsibility ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary ,
Field Assistance Bulletins ,
Fund Managers ,
Industry Examinations ,
Investment ,
Investment Management ,
Investment Opportunities ,
Proxy Voting ,
Retirement Plan ,
Wealth Management
In recent years, an issue under the Employee Retirement Income Security Act of 1974 (ERISA) has drawn considerable attention: Participants who have reached the minimum age for starting their retirement benefits are not doing...more
The US Department of Labor recently issued a proposed rule to supplement the Department’s existing electronic disclosure regulations and ease the burden of compliance with many of ERISA’s retirement plan disclosure...more
The US Department of Labor (the Department) on October 22 announced the publication of a proposed rule intended to serve as a supplement to the Department’s existing electronic disclosure regulations. The proposed rule leaves...more
The US Department of Labor (DOL) has been extremely active in recent years as the federal agency investigating and enforcing the fiduciary duties under the Employee Retirement Income Security Act of 1974, as amended (ERISA)....more
Even with these victories, continuing risks remain for plan fiduciaries.
Over the last few months, there have been a significant number of court decisions ruling against plaintiffs alleging ERISA breach of fiduciary claims...more