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DOL Reiterates Its Focus on Cybersecurity with Updated Guidance

The US Department of Labor (DOL) issued a press release on September 6, 2024 reminding ERISA plan fiduciaries that it considers cybersecurity to be an area of “great concern” and emphasizing that it continues to investigate...more

2024 DOL ERISA Investigation Update: Recent Publications Offer Insight Into Possible Areas of Focus

The US Department of Labor (DOL) maintains a robust investigatory program for auditing employee benefit plans for potential ERISA violations. Under the Biden administration, the DOL’s ERISA enforcement activities and...more

DOL Continues Active ERISA Enforcement and Focus on Cybersecurity Including Health and Welfare Plans

The Employee Benefits Security Administration (EBSA) of the US Department of Labor (DOL) has continued to be active in civil and criminal enforcement investigations of ERISA’s fiduciary duties. This blog post details two...more

Could Sponsoring a Pooled Employer Plan Grow Your Business?

While large financial institutions with significant expertise in retirement plan administration are widely expected to sponsor most pooled employer plans (PEPs), other firms (such as franchisors, gig economy employers, joint...more

Digesting the New Proposed Exception to the ‘One-Bad-Apple Rule’ for MEPs and PEPs

In late March 2022, the US Internal Revenue Service withdrew regulations proposed in 2019 and issued new proposed regulations under sections 413(c) and (e) of the Internal Revenue Code, which provide for an exception to...more

DOL Updates Form 5500 for PEPs and MEPs; No Decision Yet on Group of Plan Issues

The US Department of Labor (DOL) issued a final regulation (Final Rule) on December 29, 2021, updating the 2021 Form 5500 to reflect certain statutory changes included in the Setting Every Community Up for Retirement...more

DOL Begins Its Cybersecurity Audit Initiative – And It’s a Doozy

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

A Deeper Dive into the DOL’s First-of-Its-Kind Cybersecurity Guidance

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

The DOL Is Focusing on Cybersecurity; Plan Fiduciaries May Want to Consider Doing the Same

There has been an increasing focus in recent years on the intersection of ERISA’s fiduciary duties and the issues of cybersecurity and data (including participant data) protection. Beyond the potential for pecuniary and...more

DOL Proposes Rules on Pooled Plan Provider Registration Process

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

Stay Tuned – DOL to Issue RFI on Pooled Employer Plans

While much of the attention by regulators has been focused on the coronavirus (COVID-19) response and CARES Act/FFCRA guidance, they have not forgotten about the SECURE Act’s introduction of pooled employer plans (PEPs)...more

Multiple Changes for Multiple Employer Plans

While the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) and its promise of truly open multiple employer plans (MEPs) sat with the Senate this summer, the US Department of Labor (DOL) and Internal...more

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