On October 30, 2020, the U.S. Department of Labor (the “DOL”) released a Final Rule to “provide clear regulatory guideposts for fiduciaries of private-sector retirement and other employee benefit plans in light of recent...more
11/12/2020
/ Amended Regulation ,
Department of Labor (DOL) ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary ,
Fiduciary Duty ,
Investors ,
Required Documentation ,
Retirement ,
Retirement Plan ,
Retirement Plan Providers ,
Section 404
In March 2020, I posted a blog reviewing the evolution of the legal analysis applied to a retirement plan’s holding of “employer securities” under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)......more
9/28/2020
/ Breach of Duty ,
Corporate Officers ,
Disclosure Requirements ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Insider Information ,
Insider Trading ,
Petition for Writ of Certiorari ,
Popular ,
Retirement Plan ,
Retirement Plan Providers ,
Securities Violations
The U.S. Department of Labor (the “DOL”) recently released an information letter that concludes, if certain conditions are met, a plan fiduciary will not violate his fiduciary duties under the Employee Retirement Income...more
7/16/2020
/ 401k ,
404(c) Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Information Letters ,
Investment ,
Investment Adviser ,
Investment Management ,
Private Equity ,
Private Equity Funds ,
Retirement Plan
“Employer securities” in retirement plans have been the source of a significant amount of litigation under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In general, “employer securities” are...more
3/6/2020
/ Appeals ,
Breach of Duty ,
Corporate Officers ,
Dismissals ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Employee Stock Purchase Plans ,
ESOP ,
Failure To Disclose ,
Fiduciary Duty ,
FIfth Third Bancorp v Dudenhoeffer ,
Fraud ,
Inflated Projections ,
Insider Information ,
Misrepresentation ,
Plan Participants ,
Pleading Standards ,
Remand ,
Retirement Plans Committee of IBM v Jander ,
Reversal ,
SCOTUS ,
Securities Violations ,
Vacated
On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020 (the “Appropriations Act”) that includes the “Setting Every Community Up for Retirement Enhancement Act of 2019” (the “SECURE...more
12/27/2019
/ 401k ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Individual Retirement Account (IRA) ,
Inherited IRA ,
Investment Management ,
Multiple Employer Plan (MEP) ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Credits
On April 29, 2019, the United States Department of Labor (the “DOL”) released a policy statement providing transitional relief from the potential adverse consequences arising from a District Court’s vacating portions of the...more
5/16/2019
/ Affordable Care Act ,
Association Health Plans ,
Contract Terms ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Final Rules ,
Health Insurance ,
MEWAs
On April 23, 2018, the U.S. Department of Labor (the “DOL”) released Field Assistance Bulletin No. 2018-01 (“FAB 2018-01”) which provides guidance regarding (1) the exercise of shareholder rights and written statements of...more
On December 29, 2016, the U.S. Department of Labor (the “DOL”) released Interpretive Bulletin 2016-1 (“IB 2016-1”) relating to the voting of proxies on securities held in employee benefit plans. IB 2016-1 withdraws the...more
1/20/2017
/ Benefit Plan Sponsors ,
Defined Benefit Plans ,
Department of Labor (DOL) ,
Directed Trustees ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employee Stock Purchase Rights ,
Fiduciary Duty ,
Interpretive Opinions ,
Investment Management ,
Investment Policy Statements ,
Profit Sharing ,
Proxy Voting Guidelines ,
Qualified Benefit Plans