News & Analysis as of

Department of Labor (DOL) Regulatory Requirements 401k

Snell & Wilmer

A Return to Form: Department of Labor Walks Back Crypto Warning for 401(k) Plans

Snell & Wilmer on

In Compliance Assistance Release 2025-01 (the “Release”), the Department of Labor (the “Department”) rescinded its prior guidance that cautioned fiduciaries against offering cryptocurrency investments in their retirement...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

10 Things Every 401(k) Plan Sponsor Should Be Doing To Stay On The Right Side Of ERISA

When you sponsor a 401(k) plan, you’re not just handing out a shiny benefit to help employees save for retirement. You’re stepping into a role that carries legal weight, personal responsibility, and—if you’re not careful—...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t Hire Your Payroll Provider As Your 401(k) TPA

I f you’re thinking of hiring your payroll provider to also serve as your 401(k) plan’s third-party administrator (TPA), stop. Think again. Then think again harder. I’ve been an ERISA attorney for more than 25 years. In that...more

Proskauer - Employee Benefits & Executive...

DOL Rescinds 2022 Guidance Cautioning Against 401(k) Plan Investments in Cryptocurrencies

On May 28, 2025, the Department of Labor (“DOL”) issued Compliance Assistance Release No. 2025-01 which rescinds the DOL’s prior Compliance Assistance Release No. 2022-1 which had warned 401(k) plan fiduciaries against adding...more

Jackson Lewis P.C.

Not So Fast: DOL Releases Annual Funding Notice Guidance Just Before the Distribution Due Date

Jackson Lewis P.C. on

On April 3, 2025, the Department of Labor (the DOL) issued Field Assistance Bulletin 2025-02 (the FAB) and updated model annual funding notices for single-employer and multiemployer plans. The FAB addresses conflicts between...more

Proskauer - Employee Benefits & Executive...

EBSA Releases Long-Awaited Update to Model Annual Funding Notices Reflecting SECURE 2.0 Changes

Following up on our recent blog post, SECURE 2.0’s Required Changes to Annual Funding Notice Become Effective in 2025, the Department of Labor released Field Assistance Bulletin 2025-02 on April 3, which addresses compliance...more

Morris, Manning & Martin, LLP

EBSA Guidance on Annual Funding Notices … Better Later than Never

On April 3rd, the Employee Benefits Security Administration (EBSA) released FAB 2025-02 and related model notices to provide some guidance for the 2024 plan year annual funding notices (AFNs). The EBSA is requiring that plan...more

Alston & Bird

Department of Labor’s Temporary Policy Allows Voluntary Escheatment of Certain Retirement Benefits

Alston & Bird on

In this article, the authors delve into the Department of Labor’s temporary ERISA enforcement policy for unclaimed retirement benefit payments of $1,000 or less. The Department of Labor (DOL) has announced a temporary...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Federal judge affirms Biden rule

A federal judge in Amarillo, Texas, rejected arguments made by 26 attorneys general in Republican-led states challenging the legitimacy of the Biden Administration’s so-called ESG rule....more

Seward & Kissel LLP

DOL Publishes Final Regulation Expanding the Definition of an ERISA Fiduciary

Seward & Kissel LLP on

On April 25, 2024, the U.S. Department of Labor (the “DOL”) finalized a collection of regulatory changes in its ongoing quest to update the definition of a “fiduciary” under ERISA and Section 4975 of the Internal Revenue Code...more

Laner Muchin, Ltd.

DOL Issues Implementation FAQs Regarding the Lifetime Income Illustrations for Defined Contribution Plans

Laner Muchin, Ltd. on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) amended the Employee Retirement Security Act of 1974 (ERISA) to add two lifetime income illustrations, furnished at least annually, to plan...more

Stinson LLP

DOL Issues FAQs on SECURE Act Lifetime Income Illustrations and Interim Final Rule

Stinson LLP on

On July 26, 2021 the Department of Labor’s (DOL) Employee Benefits Security Administration issued a set of four frequently asked questions (FAQs) that address the implementation of Section 203 of the Setting Every Community...more

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