William Marx on Employee Retirement Income Security Act (ERISA)

Withdrawal Liability Notice and Demand in Multiemployer Plans: Interpreting ‘As Soon as Practicable’ for Funds and Employers

A recent ruling by the US Court of Appeals for the Third Circuit serves provides a valuable reminder for multiemployer pension funds and contributing employers regarding ERISA’s withdrawal liability notice and demand...more

8/28/2024 / Employee Benefits , Employee Retirement Income Security Act (ERISA) , Multiemployer Plan , Pensions , Retirement Plan , Withdrawal Liability

Transitioning to Post-SECURE 2.0 Pension Overpayment Recovery Practices

As we have previously discussed, the SECURE Act 2.0 of 2022 (SECURE 2.0) changed the game for plan sponsors when considering whether and how to recover retirement plan overpayments. The new rules provide welcome relief and...more

6/21/2023 / Employee Benefits , Employee Retirement Income Security Act (ERISA) , Fiduciary Duty , Pensions , Retirement Plan , SECURE Act

DOL Calls for ‘Extreme Care’ Before 401(k) Plans Dive into Cryptocurrency Investments

Cryptocurrency investing has experienced a tidal wave of popularity since the fabled genesis of Bitcoin in 2009. This growth has been fueled by “extreme” investment returns (despite “extreme” volatility) and innovative means...more

3/21/2022 / 401k , Bitcoin , Cryptocurrency , Department of Labor (DOL) , Employee Retirement Income Security Act (ERISA) , Employer Liability Issues , Securities and Exchange Commission (SEC) , Wage and Hour

Department of Labor Waves Caution Flag for 401(k) Private Equity Investing

The Department of Labor (DOL) delivered a surprise holiday gift on December 21, 2021 to fiduciaries of participant-directed 401(k) plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), as...more

1/4/2022 / 401k , Department of Labor (DOL) , Employee Benefits , Employee Retirement Income Security Act (ERISA) , Environmental Social & Governance (ESG) , Information Letters , Investment Management , Private Equity , Retirement Plan

An ‘Ex-CIT’ (Exit) from Mutual Funds? Retirement Plans Head to Collective Investment Trusts

We have recently seen a rise in the number of retirement plans exiting mutual funds in favor of collective investment trusts (CITs). Often the transition is simply a change in structure—that is, moving from the same...more

8/5/2021 / Collective Investment Schemes , Employee Retirement Income Security Act (ERISA) , Investment Companies , Investment Company Act of 1940 , Investment Management , Mutual Funds , Retirement Plan

Target Date Funds: Facing Increasing Congressional, Regulatory, and Legal Scrutiny

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

7/19/2021 / Benefit Plan Sponsors , Department of Labor (DOL) , Employee Benefits , Employee Retirement Income Security Act (ERISA) , Investment Management , Retirement Plan , Securities and Exchange Commission (SEC) , Target Date Funds

DOL Issues Interim Final Rule on Lifetime Income Illustrations

The US Department of Labor issued an Interim Final Rule on August 18 to implement “lifetime income illustrations,” which must be provided to defined contribution plan participants pursuant to the Setting Every Community Up...more

9/1/2020 / Defined Contribution Plans , Department of Labor (DOL) , Employee Benefits , Employee Retirement Income Security Act (ERISA) , Interim Final Rules (IFR) , Lifetime Income Disclosures , Retirement Plan , SECURE Act

ERISA Fiduciary Duties: Stick to the Plan!

One of the simplest yet most integral parts of meeting your ERISA fiduciary duties is “sticking to the plan.” Section 402(a)(1) of ERISA requires that every employee benefit plan it covers be established and maintained...more

5/5/2020 / Employee Benefits , Employee Retirement Income Security Act (ERISA) , Fiduciary Duty , Investment Management , Retirement Plan

It’s Official! DOL Finalizes Delay

The Fiduciary Rule transition period is extended until mid-2019, with financial institutions having flexibility in complying with the impartial conduct standards during this period....more

11/30/2017 / Best Interest Contract Exemptions , Department of Labor (DOL) , Employee Retirement Income Security Act (ERISA) , Fiduciary Rule , Financial Institutions , Principal Transaction Exemption , Retirement Plan

DOL Issues Additional Fiduciary Rule Transition FAQs

The Department of Labor ties up a few loose ends with FAQS regarding the fiduciary rule....more

8/11/2017 / Department of Labor (DOL) , Employee Retirement Income Security Act (ERISA) , Fiduciary Rule , Investment Adviser , Retirement Plan

William Marx

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