In its most recent step to combat cybersecurity risks to employee benefit plans, the U.S. Department of Labor (DOL) clarified on September 6, 2024, that its guidance on cybersecurity applies to health and welfare plans as...more
11/13/2024
/ Benefit Plan Sponsors ,
Compensation & Benefits ,
Cybersecurity ,
Data Protection ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Personal Data ,
Retirement Plan Providers ,
Risk Management
Many employers offer health insurance as a way to recruit and retain talent. Sponsoring a group health plan, however, can subject the employer plan sponsor to significant legal and regulatory burdens deriving from laws such...more
Fiduciaries of 401(k) and other retirement plans continue to be targeted by class action lawsuits brought under the Employee Retirement Income Security Act (ERISA) challenging fiduciary decisions regarding investment options...more
Fiduciaries of retirement plans continue to be plagued by class actions brought under the Employee Retirement Income Security Act (ERISA) challenging their fiduciary management of investment options and participant fees. A...more
5/3/2023
/ 401k ,
Breach of Duty ,
Class Action ,
Duty of Loyalty ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Management ,
Investment Opportunities ,
Retirement Plan
Lawsuits against employers offering retirement benefit plans have been on the rise. Recent suits, discussed in this update, have provided some guidance for employers.
In January 2022, the Supreme Court issued the Hughes...more
As part of the omnibus spending bill passed in a frenzy before the holiday break, Congress included the Securing a Strong Retirement Act of 2022 (“SECURE 2.0 Act”). This new law contains several changes that will have a...more
Employers offering 401(k) and similar retirement plans should familiarize themselves with a new rule published by the Employee Benefits Security Administration of the U.S. Department of Labor, Prudence and Loyalty in...more