News & Analysis as of

Retirement Plan Cybersecurity Employee Retirement Income Security Act (ERISA)

Jackson Lewis P.C.

Harnessing AI Under ERISA: A Compliance and Oversight Guide for Retirement and Health Plan Fiduciaries

Jackson Lewis P.C. on

It is increasingly evident that artificial intelligence (AI) is reshaping all facets of business, and its impact on employee benefit plans is no exception. From automating plan administration to personalizing participant...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

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

Verrill

DOL Updates Cybersecurity Guidance for ERISA Plans

Verrill on

On September 6, 2024, the U.S. Department of Labor (DOL) issued a press release announcing that it was publishing updated cybersecurity guidance in the form of Compliance Assistance Release No. 2024-01 for all plans governed...more

Verrill

Department of Labor Launches Retirement Savings Lost and Found

Verrill on

The SECURE 2.0 Act of 2022 added new Section 523 to the Employee Retirement Income Security Act of 1974 (“ERISA”), requiring the Department of Labor (the “Department”) to establish an online database called the Retirement...more

Seyfarth Shaw LLP

The Department of Labor’s Expanded Cybersecurity Guidance: What ERISA Plan Sponsors and Fiduciaries Need to Know

Seyfarth Shaw LLP on

On September 6, 2024, the U.S. Department of Labor (DOL) issued Compliance Assistance Release No. 2024-01, titled “Cybersecurity Guidance Update.” The updated guidance clarifies that the DOL cybersecurity guidance applies to...more

Carlton Fields

Expect Focus - Volume IlI, September 2024

Carlton Fields on

Gone With the Wind? Closed-End Funds Risk Extinction - Shares of SEC-registered closed-end funds (CEFs) have long held significant potential advantages for some investors. For example, unlike shares of mutual funds...more

Kaufman & Canoles

ESOPs, Benefits & Compensation Q3 2024 Client Update

Kaufman & Canoles on

Fall greetings from the Kaufman & Canoles ESOPs, Benefits & Compensation team. We hope you’re enjoying the cooler weather, changing leaves, and—of course—the continual pace of change in employee benefits. Please find below a...more

Patterson Belknap Webb & Tyler LLP

DOL Updates and Confirms Cybersecurity Guidance Applies to All ERISA Plans

In September 2024, the U.S. Department of Labor (the “DOL”) released Compliance Assistance Release No. 2024-01 and its updated cybersecurity guidance for employers that sponsor employee benefit plans governed by the Employee...more

Foster Swift Collins & Smith

DOL Echoes Employee Benefits and Cybersecurity Best Practices

On April 14, 2021, the U.S. Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance was highly...more

Bradley Arant Boult Cummings LLP

Group Health Plan Sponsors Take Note: New Developments Relating to the Privacy and Cybersecurity of Plan Participants’ Health...

There have been two important developments in the law applicable to the privacy and cybersecurity of group health plan participants’ health information. Plan sponsors must review plan policies and procedures, provider...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL updates cybersecurity guidance

The Department of Labor (DOL) updated current cybersecurity guidance for plans governed by the Employee Retirement Income Security Act, including health and welfare plans....more

Morgan Lewis - ML Benefits

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

Holland & Hart - The Benefits Dial

Both Sides Now… Must Be Alert to Cybersecurity

by Becky Achten New guidance from the Employee Benefits Security Administration (EBSA) affirms that both sides—retirement plans and welfare plans—must take steps to secure participant data from cybercrime. In 2021 the...more

Carlton Fields

Expect Focus - Volume II, May 2024

Carlton Fields on

Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Morgan Lewis - ML Benefits

ERISA Cybersecurity Compliance: SEC Proposed Rule May Provide Metrics for Evaluating Certain SEC-Regulated Plan Service Providers

In 2021, the US Department of Labor (DOL) issued cybersecurity guidance (the DOL Guidance) that sets out the DOL’s views on what processes fiduciaries of benefit plans regulated by the Employee Retirement Income Security Act...more

Foley & Lardner LLP

401(k) Compliance Check #10: Magic Words – Best Practices for 401(k) Plan SPDs

Foley & Lardner LLP on

To help employers properly administer their 401(k) plans, in 2022, Foley & Lardner LLP is authoring a series of monthly “401(k) Compliance Check” newsletters. This article includes some tips for drafting a best-in- class...more

Pullman & Comley - Labor, Employment and...

ERISA Plan Sponsors:  DOL Investigation Defense: Adopt Solid Cybersecurity Protocols

In April 2021, Employee Benefits Security Administration division of the United States Department of Labor (“DOL”) issued cybersecurity related guidance intended to assist business owners and plan fiduciaries to prudently...more

Robinson+Cole Data Privacy + Security Insider

Alight Solutions Must Comply with Subpoena Issued by DOL in Cybersecurity Incident Investigation

A subpoena was issued to Alight Solutions by the U.S. Department of Labor (DOL) for documents related to a cybersecurity breach that potentially resulted in Employee Retirement Income Security Act (ERISA) violations. Alight...more

Jackson Lewis P.C.

Do Employers Need a CISO for ERISA Compliance?

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According to a recent survey, about 45% of companies do not have a Chief Information Security Officer (CISO). As West Monroe’s “The Importance of a CISO” observes, it would be terrific for all organizations to have a CISO,...more

Perkins Coie

2022 Cybersecurity Issues and Recommendations for ERISA Plan Fiduciaries

Perkins Coie on

New cybersecurity developments and observations, including those relating to U.S. Department of Labor's (DOL) review of cybersecurity issues, warrant prompt consideration by plan sponsors and other fiduciaries of employee...more

Fisher Phillips

Top 10 Workplace Law Predictions for 2022

Fisher Phillips on

Workplace law has changed dramatically over the past two years of the pandemic. Unfortunately, 2022 (or is it “2020 too”?) is shaping up to be another year full of new rules and regulations within this volatile area of law....more

Woodruff Sawyer

Protecting Against the ERISA Litigation Surge

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ERISA litigation has exploded in the past few years, particularly cases alleging excessive fees. Last year was the high-water mark for ERISA class actions with over 200 cases filed, an 80% increase from 2019. 2021 is on track...more

Snell & Wilmer

2021 End of Year Plan Sponsor “To Do” List (Part 3) Qualified Retirement Plans

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As 2021 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. Part 1 covered health and welfare plan...more

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