News & Analysis as of

Benefit Plan Sponsors Employee Benefits Security Administration Employee Retirement Income Security Act (ERISA)

Faegre Drinker Biddle & Reath LLP

Things I Worry About (8): DOL Investigations and Unsuspecting Plan Sponsors (2)

As explained in my last post, Things I Worry About (7), the DOL’s EBSA has a number of programs that can restore benefits to plans and participants. Those include: - Civil investigations. - Criminal investigations. -...more

Faegre Drinker Biddle & Reath LLP

Things I Worry About (7): DOL Investigations and Unsuspecting Plan Sponsors

The DOL’s EBSA has a number of programs that can restore benefits to plans and participants. Those include: - Civil investigations. - Criminal investigations. - Informal compliant resolutions. - Correction programs. ...more

Snell & Wilmer

2024 End-of-Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

Snell & Wilmer on

We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more

Proskauer - Employee Benefits & Executive...

Benefit Plan Deadlines Extended for Individuals Affected by Recent Natural Disasters

Last week, the U.S. Departments of Labor and Treasury issued a Joint Notice requiring the extension of certain benefit plan deadlines for individuals affected by Hurricanes Helene and Milton and Tropical Storm Helene.[1] The...more

Patterson Belknap Webb & Tyler LLP

The End of the COVID-19 Emergency Declarations

Today marks the end of the COVID-19 public health emergency that first began on March 13, 2020. The end of the public health emergency has a wide range of implications for employer sponsored benefit plans. This alert...more

Bass, Berry & Sims PLC

Tolling No More: Preparing for the End of COVID-19 Emergency Declarations

On January 30, President Biden announced his intention to end the COVID-19 National Emergency (NE) and Public Health Emergency (PHE) effective May 11, 2023. Both emergency declarations resulted in various forms of relief for...more

Morgan Lewis - ML Benefits

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

McDermott Will & Emery

DOL Proposes Significant Changes to VFCP Program

McDermott Will & Emery on

On November 21, 2022, the US Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released a proposed amendment and restatement of the Voluntary Fiduciary Correction Program (VFCP), along with a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Biden nominates Gomez as EBSA head

Some birds aren’t mean to be caged (a line from The Shawshank Redemption) and some attorneys weren’t meant to be law firm associates. 3 years working for two law firms was 3 years too long....more

Faegre Drinker Biddle & Reath LLP

Forced Rollovers of Small Retirement Account Balances: What to Do with Missing Participants

When a participant experiences a distribution event (e.g., terminating service with the employer), and when the participant does not affirmatively elect to take the distribution, a plan document may require that an account...more

Harris Beach Murtha PLLC

DOL Issues FAQs on Lifetime Income Disclosures for Defined Contribution Plans

On July 26, 2021, the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) issued Temporary Implementing Frequently Asked Questions (FAQs) on the Interim Final Rule (IFR) which the EBSA had...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Missing Plan Participants

Williams Mullen on

On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined once again by Beryl Ball, Principal Financial Advisor at CAPTRUST, who explains the Department of Labor’s recent guidance for plan sponsors...more

Holland & Knight LLP

DOL Releases Cybersecurity Best Practices Guidance for Protecting Retirement Benefits

Holland & Knight LLP on

For the first time, the U.S. Department of Labor's (DOL) Employee Benefits Security Administration (EBSA) has released cybersecurity guidance aimed at protecting workers' retirement benefits. The guidance, which was released...more

Davis Wright Tremaine LLP

Department of Labor Announces Cybersecurity Guidance for ERISA Retirement Plans

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently announced its first cybersecurity guidance for retirement plans subject to the Employee Retirement Income Security Act of...more

Harris Beach Murtha PLLC

DOL Finally Issues Cybersecurity Guidance for Retirement Plans

On April 14, 2021, the U.S. Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) finally issued first-ever guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best...more

McAfee & Taft

New DOL guidance on cybersecurity

McAfee & Taft on

Today, the U.S. Department of Labor announced new guidance for plan sponsors, plan fiduciaries, recordkeepers and plan participants on best practices for maintaining cybersecurity, including tips on how to protect retirement...more

Holland & Hart - The Benefits Dial

In the Darkness at the Edge of Town…Cybersecurity Guidance for Plan Participants, Record-Keepers, and Plan Sponsors From The EBSA

On April 14, 2021, the Employee Benefits Security Administration (“EBSA”) published guidance for plan sponsors, plan fiduciaries, record-keepers, and plan participants on best practices for maintaining cybersecurity. This is...more

Moore & Van Allen PLLC

USDOL Offers Guidance on Data Security for Plan Fiduciaries and Service Providers

Moore & Van Allen PLLC on

The Employee Benefits Security Administration of the United States Department of Labor (“EBSA”) recently published guidance regarding cybersecurity best practices for recordkeepers and service providers responsible for plan...more

Mintz - Employment Viewpoints

Agencies Issue Needed Guidance on COBRA Elections During the COVID-19 “Outbreak Period”

On February 26, 2021, the Department of Labor’s Employee Benefits Security Administration (EBSA) issued Notice 2021-01 (the “Notice”). The Notice was issued jointly with the Department of the Treasury, the Internal Revenue...more

Troutman Pepper Locke

Changes to Plan Distribution and Disclosure Information

Troutman Pepper Locke on

Updated Safe Harbor Special Tax Notice (402(f) notice) & Lifetime Income Illustrations – Five Key Points for Plan Fiduciaries - The IRS has updated its safe harbor Special Tax Notice required to be provided to plan...more

Seyfarth Shaw LLP

Show Me the (Monthly) Money!

Seyfarth Shaw LLP on

Seyfarth Synopsis: On Tuesday, August 18, 2020, the Department of Labor’s Employee Benefits Security Administration (EBSA) released an interim final rule related to a new disclosure that will need to be provided as a part of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Blackout notice relief

BSA Notice 2020-01 from the Employee Benefits Security Administration (EBSA) announced important relief for plan sponsors in connection with authorizing plan loans and distributions...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Time Is on Your Side: Additional COVID-19 Relief Now Available for Employee Benefit Plan Sponsors and Participants

Deadlines are an inescapable aspect of administering employee benefits plans, and even in the midst of a pandemic that seems to have slowed the progress of days to a crawl, time is always in short supply. Fortunately, the...more

Perkins Coie

COVID-19 Relief for Employer-Sponsored Benefit Plans: Federal Government Announces Deadline Extensions and Other Short-Term Relief

Perkins Coie on

Many employee benefit plan sponsors, administrators, and fiduciaries have been asking about regulatory relief in response to administrative challenges created by the COVID-19 pandemic. Most recently, the U.S. Departments of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - May 2016

The Struggles Of Being A Retirement Plan Provider And How To Manage It. What you have to deal with. Any good retirement plan financial advisor will tell you that relationships in the retirement plan business mean...more

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