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
On May 5, 2022, McDermott Partner Erin Turley delivered a presentation during the 2022 TEA National Conference titled “Understanding a Trustee’s Role in Management Incentive Plans.” Her presentation focused on the trustee’s...more
Earlier this spring, McDermott Partner Erin Turley delivered a presentation about the impacts of recent Employee Retirement Income Security Act of 1974 (ERISA) litigation. Lawsuits now target both large and small employee...more
On October 30, 2020, the US Department of Labor (the DOL) issued a final rule to codify standards for how plan fiduciaries must consider financial factors when selecting and monitoring plan investments (the “Financial Factors...more
The decisions you make in response to the global pandemic will have lasting impacts on your business and your workforce. Join members of our ESOP team each Thursday for this webinar series designed to help you navigate and...more
4/29/2020
/ Beneficiaries ,
Distribution Rules ,
Economic Downturn ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Liability ,
Relief Measures ,
Retirement Plan ,
Trustees ,
Webinars
Much has been written about the new CARES Act distribution that allows impacted COVID-19 participants to access up to $100,000 in their tax-qualified defined contribution plan penalty-free and with income taxes spread over...more
Coronavirus (COVID-19) raises serious concerns for employers of all shapes and sizes, across all industries and in every business sector. As the impact of COVID-19 continues to grow, many employers are faced with new...more
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
During our Tax in the City roundtable event in Dallas, Erin Turley and Judith Wethall presented on the hidden costs in benefit contracts. They provided attendees with a checklist of what to look out for in contracts,...more
The US Department of Labor’s new fiduciary rule is aimed at financial advisors, including brokers, who provide retirement plan services. However, the new rule will impact compliance obligations and potentially, costs for plan...more
7/9/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Duty to Monitor ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Retirement Plan ,
Retirement Plan Providers ,
Tibble v Edison Int