News & Analysis as of

Fiduciary Duty Regulatory Requirements Employee Retirement Income Security Act (ERISA)

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

Epstein Becker & Green

Hot Topics in Employee Benefits: A Primer for In-House Lawyers

“ERISA, you’ll need a lawyer for that.” Our practice group’s tagline is meant to be a shorthand for the alphabet soup of laws that apply to employee benefits, including the Employee Retirement Income Security Act (ERISA)....more

Jackson Lewis P.C.

New DOL/EBSA Opinion Letter Program Offers A Path to Clarity for Plan Sponsors

Jackson Lewis P.C. on

On June 2, 2025, the U.S. Department of Labor (DOL) announced a significant expansion of its compliance assistance tools by launching an Opinion Letter Program across five key enforcement agencies, including the Employee...more

Woodruff Sawyer

Fiduciary Duty in the Digital Age: Cybersecurity Best Practices for ERISA Plans

Woodruff Sawyer on

Cybercriminals look for two things when seeking a victim—access and opportunity. ERISA retirement plans offer both. Cybercriminals exploit weaknesses in systems, software, or human behavior to find opportunities for easy...more

A&O Shearman

Texas court upholds Biden administration’s rule on ESG Investing for ERISA fiduciaries

A&O Shearman on

In a recent decision by the U.S. District Court Northern District of Texas, Judge Matthew J. Kacsmaryk ruled that the U.S. Department of Labor’s 2022 Rule (the 2022 Rule) on environmental, social, and governance (ESG)...more

Seyfarth Shaw LLP

The DOL May Not Actually Want to Hear From You: New Guidance Streamlining the Voluntary Fiduciary Correction Program

Seyfarth Shaw LLP on

The DOL updated its voluntary fiduciary correction program (“VFCP”) which was introduced over 20 years ago to allow plan sponsors to corrected enumerated fiduciary breaches. The amended VFCP now allows for self-correction of...more

Bass, Berry & Sims PLC

BREAKING: DOL Expands the Voluntary Fiduciary Correction Program

Bass, Berry & Sims PLC on

Yesterday, the U.S. Department of Labor (DOL) published in the Federal Register an updated version of the Voluntary Fiduciary Correction Program (VFCP) under Title I of ERISA. Per the DOL, VFCP “is designed to encourage...more

Foley & Lardner LLP

New Artificial Intelligence (AI) Regulations and Potential Fiduciary Implications

Foley & Lardner LLP on

Fiduciaries should be aware of recent developments involving AI, including emerging and recent state law changes, increased state and federal government interest in regulating AI, and the role of AI in ERISA litigation. While...more

Faegre Drinker Biddle & Reath LLP

Rollover Recommendations: PTE 2020-02 Compliance Considerations Following the DOL Fiduciary Rule Stay

The effective date of the DOL’s new expansive fiduciary rule and the amendments to Prohibited Transaction Exemption (PTE) 2020-02 has been stayed pending the outcome of the lawsuits challenging the rule and the amended PTE....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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (24): The DOL Fiduciary Rule Requires a Recommendation. What is That?

In November 2023, the U.S. Department of Labor released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (14): The Timeline for the Final Regulation and Exemptions

The U.S. Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to retirement plans,...more

Foley Hoag LLP

DOL Issues Proposed Amendment to Investment Advice Fiduciary Regulation

Foley Hoag LLP on

On October 31, 2023, the Department of Labor (“DOL”) issued a much-anticipated proposal to amend its 1975 “investment advice fiduciary” regulation, which defines when a person who provides investment advice for a fee or other...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (2): The Impact

The US Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment advice to plans, participants (including...more

Verrill

The Department of Labor Proposes Its New Fiduciary Rule

Verrill on

On October 31, 2023, the Department of Labor published a new proposed regulation (the “Proposed Rule”) defining “investment advice” for purposes of determining when someone advising an ERISA plan or participant or an IRA...more

Akerman LLP

United States Department of Labor Expands Electronic Delivery Rules for Retirement Plans

Akerman LLP on

The United States Department of Labor (DOL) finalized a new safe harbor rule for the use of electronic media to furnish information to participants and beneficiaries of employee retirement plans subject to the Employee...more

Pullman & Comley - Labor, Employment and...

More Disaster Relief for Employee Benefit Plans Due to COVID-19

On April 28, 2020, the Employee Benefits Security Administration (“EBSA”) issued three documents related to COVID-19 relief: (i) EBSA Disaster Relief Notice 2020-20 (EBSA Notice 2020-01); (ii) the text of a final rule...more

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